The Electricity Company of Ghana (ECG) has recovered over GH₵2.5 billion out of the over GH₵5.7 billion debt customers owe.
Nationwide revenue mobilisation exercise
This is the outcome of the ongoing nationwide revenue mobilisation exercise to recover all unpaid bills.
One month exercise
The exercise, which will last for a month, targets domestic users, businesses, organisations, ministries, departments and state agencies for power already consumed.
4.5m ECG customer base
ECG has so far established the existence of 4.5 million customers with prepaid and postpaid being 50 per cent each and the count continues.
Managing Director of ECG Mr Samuel Dubik Mahama told senior media practitioners that the Company will not relent until the debt is fully recovered.
GH₵500m to offset debt of soldiers, police, others
According to him, GH₵500 million was used to off-set debt of some public institutions including GH₵200m for Ghana Armed Forces (GAF), Ghana Police Service GH₵120 million among others.
Plans to offset GH₵1.2bn debt of MDAs with GRA
He announced that ECG is considering GH₵1.2 billion tax offset using the debts of some state institutions to clear tax obligation owed Ghana Revenue Authority (GRA).
ECG can be worth GH₵2bn a month
Mr Mahama is optimistic that if all consumers pay their bills, ECG will be worth GH₵2 billion a month company.
100% revenue losses
The ECG MD noted that at the time he assumed office, the company was making about GH₵125 million a month and recording over 100% revenue losses.
End-to-end digitalization to curb revenue losses
To address revenue losses, he implemented end-to-end digitalization which has increased revenue significantly.
Bulk vendors increase from 400 to over 1,000
As part of the reforms, he said bulk vendors increased from 400 to over `1,000 leading to revenue increase.
Quota vending rises from GH₵100m to GH₵200m a month
Mahama revealed that revenue from quota vending rose from GH₵4.6 million to GH₵13 million a day which translates into a monthly increase from GH₵100 million a month to over GH₵200 million a month.
