Bussiness
Government yet to fully settle Covid-19 relief to ECG, but pays ¢16.76bn of total indebtedness
Government is yet to fully settled electricity subsidies granted as COVID-19 relief to the Electricity Company of Ghana.
This is captured in a report by the power distribution firm submitted to the Public Utilities and Regulatory Commission (PURC) for consideration to increase electricity tariff.
ECG however expects the government to continue to honour its debt obligations to keep the company afloat.
It therefore expressed worry that subsidies expected to be paid by the government on behalf of customers are always in arrears, thereby negatively affecting the financial health of the company.
Government’s indebtedness to ECG in the last recent few years had however gone down to ¢4.2 billion.
Governments indebtedness to ECG in the last few years were ¢1.015 billion, ¢1.375 and ¢1.840 billion in 2019, 2020 and 2021 respectively.
The components of government bills are MDAs, GWCL, Subsidies, Streetlight shortfall, Utility Relief granted to all customers from July 2016 to June 2019 and Covid-19 Relief.
Government settles ECG 16.76bn of its indebtedness
Between 2019 and 2021, government paid ECG ¢16.76 billion as its indebtedness.
The various government payments, the report said, were reconciled with stakeholders in the electricity value chain and applied to reduce government indebtedness.
In 2019, government paid a total amount of ¢4.592 billion out of which an amount of 1.840 billion was paid to fuel suppliers and ¢2.751 billion to Independent Power Producers (IPPs).
In 2020, government paid a total amount of ¢5.925 billion, out of which an amount of ¢1.597 billion was paid to fuel suppliers and ¢4.328 billion to IPPs.
In 2021, government paid a total amount of ¢6.243 billion, out of which an amount of 1.230 billion was paid to fuel suppliers and ¢5.013 billion to IPPs.
Importantly, the total amount paid by government under this arrangement was more than government’s indebtedness.
“The total amount paid by government under this arrangement was more than Government’s indebtedness and the balance was treated accordingly as other government equity”.
Source: www.myjoyonline.com
Ghanaian dancehall artiste Charles Nii Armah Mensah, known as Shatta Wale, has won two awards at the 43rd International Reggae and World Music Awards (IRAWMA) held in Florida over the weekend.
He picked up the Best African Dancehall Entertainer award as well as Concert of the Year for ShattaFest.
In a statement, Shatta Wale’s management expressed appreciation to the organisers and supporters of the awards.
“Management would like to sincerely appreciate the organisers of the IRAWMA awards for the recognition and continuous support for African music on the global stage.
“We also extend our deepest gratitude to fans across the world, especially the Shatta Movement fraternity, for their unwavering support, votes, and dedication throughout the years,” the statement said.
The statement added that the latest wins reaffirm the artiste’s position as one of Africa’s leading musical exports and a prominent figure in global dancehall culture.
The awards bring Shatta Wale’s total haul at the IRAWMA to 11, highlighting his continued presence on the international reggae and dancehall scene.
At last year’s edition, he won three awards: Best African Dancehall Entertainer, Best Music Video for “Killa Ji Mi”, and Best Crossover Song for “Commando” featuring Bounty Killer. -GNA
Bussiness
Global Market Volatility: Gov’t absorb GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol
Effective Thursday, April 16, 2026, which is the next pricing window, the Government will absorb GH¢2.00 per litre on diesel and GH¢ 0.36 per litre on petrol.
This intervention is intended to cushion customers and ease the cost burden on households, transport operators, and businesses.
The measure, approved by Cabinet, is in response to rising prices of petroleum products on the international market, which have significantly impacted ex-pump prices in Ghana.
This temporary intervention will remain in force for a period of one (1) month.
During this period government will continue to closely monitor developments in the global oil market and assess the need for further policy adjustments.
A statement signed by Minister of Government Communications, Felix Ofosu Kwakye noted that they remain commited to maintaining price stability, protecting livelihoods, and supporting Ghana’s economic recovery in the face of external shocks.
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