Ghanaian Govt has repaid $455m arrears owed to ECG

In Ghana, Energy Minister John Peter Amewu said the government has repaid the entire 2.63 billion cedis ($ 455.6 million) it owed to the ECG , the national electric company. According to the official, in December 2019, the government paid the full amount due for supplying electricity to the Electricity Company of Ghana.

The state would also currently have a credit of 500 million cedis with the electrical distributor. Indeed, to avoid the accumulation of new debts on the company’s account, the government has implemented an annual payment system of 2 billion cedis since 2017 in order to meet the various payments.

“In December 2016, when the National Democratic Congress handed over power to us, the government owed 2.63 billion cedis to the ECG. In the exercise of its mandate, the New Patriotic Party has ensured that it has paid all these invoices on time since 2017. On average, President Akufo-Addo has paid approximately 2 billion cedis annually to cover its invoices with the ECG, ” said the Minister.

With its 500 million cedis of credits remaining with the ECG, the government intends to cover its consumption from January to April 2020, its monthly bills being on average 100 million cedis.

 

Source: Agence Ecofin

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