On his first official day as President of Ghana, John Dramani Mahama took immediate steps to tackle one of the nation’s most pressing challenges: inefficiencies in the energy sector.
In a meeting with a high-level delegation from the World Bank on Wednesday, January 8, 2025, at his private office in Accra, President Mahama outlined plans to explore the privatization of the Electricity Company of Ghana (ECG). The move is part of his broader strategy to address long-standing issues of operational inefficiency, financial mismanagement, and subpar service delivery that have plagued the power sector.
Mahama emphasized the critical importance of efficient energy distribution for national development, highlighting that without addressing the challenges at ECG, the entire power value chain would continue to suffer. Drawing from his experience with the Millennium Challenge Corporation (MCC) Compact during his tenure as Vice President, Mahama noted that privatization could bring much-needed private sector efficiency to the company.
“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 said.
However, he made it clear that any decision on privatization would be made following extensive stakeholder consultations to ensure that the process benefits both public and private interests.
During the meeting, Mahama also welcomed a delegation led by Ousmane Diagana, Vice President for West and Central Africa at the World Bank. Diagana expressed strong support for Ghana’s development ambitions, praising Mahama’s proactive approach. He noted that the President’s goals aligned with the World Bank’s “Better Bank” initiative, which focuses on fostering partnerships and innovative financing solutions for sustainable economic growth.
Discussions during the meeting also covered broader development strategies, including enhancing domestic resource mobilization, addressing challenges in the agricultural sector—particularly in cocoa—and utilizing global expertise to benefit Ghana’s development.
President Mahama’s decisive actions on his first day set a clear tone for his administration, signaling a commitment to strategic reforms and international collaboration aimed at propelling Ghana’s growth and development.