John Jinapor has raised serious concerns over alleged financial mismanagement at the Electricity Company of Ghana (ECG), suggesting that a cartel may be operating within the organization.
Addressing the press, he expressed deep disappointment with the state of affairs, stating that ECG has engaged in questionable procurement activities far beyond legal limits.
According to Jinapor, a forensic audit will be conducted to investigate the financial transactions of the ECG and determine the extent of the irregularities.
He pointed out that previous executives left behind a major mess, which the current leadership is struggling to clean up.
He acknowledged that while the process would be difficult, the government was committed to restoring order and accountability in the institution.
He further revealed that the energy sector’s debt has ballooned to GHC 80 billion, attributing the financial crisis to reckless spending and mismanagement by ECG.
Jinapor stressed that addressing these issues was a top priority, as the sector’s stability was crucial to Ghana’s economic growth.
The Minister also emphasized the need for an overhaul of ECG’s procurement structures, stating that reforms were necessary to prevent further financial losses.
He reassured Ghanaians that efforts were being made to ensure transparency and efficiency in the management of the country’s electricity supply.
His revelations have sparked widespread debate, with many calling for accountability and decisive action against those responsible for the alleged financial mismanagement.
The issue has also raised concerns among energy sector stakeholders, who fear that the ongoing crisis at ECG could have long-term consequences on power supply and tariffs.
TV3 Ghana, which shared the news on social media, reported a flood of reactions from the public, with many expressing frustration over the state of the country’s power sector and the allegations of corruption within ECG.
As investigations unfold, all eyes will be on the government’s next steps in tackling the reported crisis and holding accountable those involved in financial irregularities at ECG.
Source: NewsandVibes.com
