Energy sector’s inefficiencies are deepening Ghana’s fiscal and social inequalities — Ben Boakye

For Mr Boakye, however, the scale of ECG’s losses, accumulated energy-sector debt and borrowing costs means Ghana cannot afford to preserve an arrangement that continues to impose a heavy burden on the national purse.

When the interest costs on those borrowings are combined with recurring debts generated through ECG, Mr Boakye estimates that the total annual cost of how Ghana has managed the energy sector could approach GH¢40 billion.

According to Mr Boakye, ordinary citizens are effectively contributing towards servicing and amortising energy-sector debts through public finances, yet some of those same citizens do not have access to electricity.