Mahama’s bold first steps as President: ECG privatization and strategic partnerships

On his first official day in office, President John Dramani Mahama wasted no time addressing one of Ghana’s most pressing issues: the inefficiencies in the energy sector.

Meeting with a high-level delegation from the World Bank on Wednesday, January 8, 2025, at his private office in Accra, Mahama revealed plans to explore privatizing the Electricity Company of Ghana (ECG).

The President emphasized the critical role of efficient energy distribution in driving national development. Drawing from his experience with the Millennium Challenge Corporation (MCC) Compact during his tenure as Vice President, Mahama highlighted privatization as a potential solution to operational inefficiencies, financial mismanagement, and subpar service delivery at ECG.

“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 stated.

He emphasized that the decision would be made through extensive stakeholder consultations to ensure a balanced approach that serves both public and private interests.

President Mahama also met the World Bank delegation, led by Ousmane Diagana, Vice President for West and Central Africa.

They expressed strong support for Ghana’s development ambitions. Diagana praised Mahama’s proactive stance, noting the alignment of Ghana’s goals with the World Bank’s “Better Bank” initiative, which prioritizes partnerships and innovative financing solutions for sustainable economic growth.

Discussions also touched on broader development strategies, including enhancing domestic resource mobilization, addressing agricultural sector challenges—particularly in cocoa—and leveraging global expertise for Ghana’s benefit.

President Mahama’s first day in office set a tone of decisive leadership and strategic collaboration.

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The post Mahama’s bold first steps as President: ECG privatization and strategic partnerships first appeared on 3News.

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