"ECG's Massive Waste: 3,000 Containers of Unnecessary Imports"

Minister Felix Kwakye Ofosu has made some serious allegations against the Electricity Company of Ghana (ECG), claiming they've engaged in reckless spending. According to him, the previous management made some questionable transactions that have resulted in significant additional costs.

For instance, the ECG allegedly has around 3,000 containers sitting at the Tema Port, containing items they won't need for the next decade. Some of these items will even expire within five years. This has led to an annual demurrage of GHC1.5 billion. As Minister Kwakye Ofosu puts it, "Is that useful expenditure?"¹

This revelation has sparked a heated debate about the state of Ghana's economy. The new government claims that the previous administration mismanaged the economy, while the Minority in Parliament argues that the current government is manipulating figures to paint a bleaker picture.

Minister Kwakye Ofosu emphasized that the economy is indeed in bad shape due to mismanagement by the previous administration. He pointed out that state institutions are heavily indebted, with verified arrears amounting to $67 billion. The ECG alone has GHC68 billion in debt. As he rightly asks, "How can you have a situation like that?"

Source: 3news