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ECG blames power cuts on challenges with gas supply from Nigeria
The Managing Director of the Electricity Company of Ghana (ECG) Samuel Dubik Mahama, has said challenges with gas supply from Nigeria caused the recent power cuts.
He told journalists that “We pick gas from Nigeria and they’ve been having some challenges so it affected the gas flow through the power plants in Ghana.
“We had some massive load pressure so we had to take steps to shed some load immediately because we didn’t have access to some liquid fuels so that is what led to the outages that happened two days ago.”
The Ghana Grid Company Limited (GRIDCo) earlier apologized to Ghanaians who suffered from the challenges.
Recently, some parts of the country especially Accra experienced power cuts.
Head of Corporate Communications at GRIDCo, Dzifa Bampoh said the situation was a result of a generational challenge that is out of the control of GRIDCo
Speaking on News 360 on TV3 Wednesday, May 10, Dzifa Bampoh said “Sincerely, we apologize for the erratic power supply that many Ghanaians may have suffered for the last couple of days.”
She added “GRIDCo is a transmitter and we are not a generator however, we do have a view of what the generation is like, that is the generation coming from our power plants whether they are hydro or they are thermal or they are solar.
“Unfortunately, there has been a shortfall in generation capacity, meaning we have not been able to generate as much power as Ghanaians demand.
“That is out of the control of GRIDCo and it is partly because we don’t have enough gas coming in to power some of these plants. That is why we had some intermittent power supply, so there is no load-shedding.
“What has happened is, on some occasions, gas supply has been low and as a result, we have had to reduce supply to ECG.”
Source: 3news.com
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GEXIM deepens relations with US EXIM Bank
A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.
The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.
The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.
Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).
Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.
The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
