Privatize more than 50% of ECG – IMANI Boss

FranklinFounding President and Chief Executive Officer (CEO) of policy think tank, IMANI Ghana, has called for the privatization of majority shares of power distribution company, Electricity Company of Ghana (ECG).

Franklin Cudjoe, analyzing Ghana’s Economic performance in 2014, said power fluctuations in the country was the bane of the country’s economy in the year 2014.

He said on Adom fm’s Burning Issues on Monday night that, the current situation had led to the collapse of many industries in the country; affecting the greater economic output.

“Let private people come to the country and manage the energy sector and business would boom…,” he said.

He thus recommended as the solution to the current energy crisis, the privatization of about 80% of ECG, to allow consistent supply of energy.

“It is not always the times that we have to criticize government, let’s accept it, privatize 80-90% of ECG and everything would be fine…,” he said.

Franklin Cudjoe continued that private sector participation in the energy sector would go a long way to help Ghana overcome the problem due to the competition that may arise from that.

Answering questions as to whether Ghanaians can pay realistic tariffs for the energy they consume, the IMANI-Ghana boss said Ghanaians would appreciate a constant supply of power that cost than fluctuations in power at a minimized cost.

To him, until the country privatizes ECG, it should be prepared for more doom in the energy sector in 2015.

Projecting into Ghana’s economic future, Franklin Cudjoe called for a greater fiscal discipline to help solve the problems of this country.

According to Franklin Cudjoe, government should also be more proactive in minimizing cost by making use of technology.

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