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President John Dramani Mahama wasted no time tackling Ghana’s pressing energy sector challenges as he assumed office. On Wednesday, January 8, 2025, he met with a high-level World Bank delegation at his private office in Accra, where he unveiled plans to explore the privatization of the Electricity Company of Ghana (ECG).
Mahama stressed the importance of efficient energy distribution for national development, highlighting his past experience with the Millennium Challenge Corporation (MCC) Compact during his tenure as Vice President. He proposed privatization as a potential solution to address ECG’s operational inefficiencies, financial mismanagement, and poor service delivery.
“If we don’t fix the Electricity Company of Ghana, we will continue to have a major problem with our whole power value chain. Bringing in private sector efficiency is a strategy we must consider to modernize and enhance performance,” Mahama explained.
The President assured that any decision regarding privatization would involve thorough consultations with stakeholders to ensure a balanced approach that considers both public and private interests.
The World Bank delegation, led by Ousmane Diagana, Vice President for West and Central Africa, expressed strong support for Mahama’s development agenda. Diagana commended the President’s proactive measures and noted how Ghana’s objectives align with the World Bank’s “Better Bank” initiative, which emphasizes partnerships and innovative financing for sustainable economic growth.
The discussions also addressed broader development priorities, including strengthening domestic resource mobilization, resolving challenges in the agricultural sector—particularly cocoa production—and leveraging global expertise for Ghana’s advancement.
President Mahama’s swift action on his first day in office showcased his commitment to decisive leadership and collaborative reforms, setting a strong tone for his administration.
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