Former Managing Director of the Electricity Company of Ghana (ECG), Samuel Dubik Mahama, has recently highlighted the significant financial and operational improvements the company experienced during his tenure. In an interview on the Asaase Breakfast Show, Mahama detailed the transformation of ECG into a revenue-generating powerhouse, comparing its monthly income to that of major corporations like MTN.

Mahama emphasized the scale of ECG's operations, stating, "Let’s not treat ECG like a cottage industry when it’s actually one of the biggest." He pointed out the dramatic increase in monthly revenue, noting, "ECG’s monthly revenue can be likened to—what do you call it—MTN now. The Minister, in his own interview, said ECG is making 1.5 billion cedis a month. When I came into office, it was around 450 to 500 million. In longer months, maybe 700 million. But as we speak, revenue has tripled to 1.5 billion. How did we do it? We changed how we worked.”

A key aspect of ECG’s financial strategy, according to Mahama, is its adherence to a strict engineering pricing model. “ECG works with something called engineering pricing. So our pricing is unique. ECG has a set price for set goods. Whether you like it or not, that’s the price—take it or leave it. You can’t negotiate the price,” he explained. This rigid pricing structure ensures consistent revenue based on established costs and operational requirements.

Mahama also addressed the structural inefficiencies he encountered upon assuming his role. He revealed a substantial backlog of pending projects, stating, “I came to see 722 projects that predated me, all needing critical equipment, along with 98 civil infrastructure projects and 12 customer service-related projects. This showed me that the company wasn’t operating as a commercial entity, but rather as an engineering-focused one.” This backlog highlighted the need for a shift towards a more commercially-oriented approach to project management and service delivery.

Service delivery improvements were another area of focus during Mahama's leadership. He noted a significant increase in the rate of electricity meter installations. “When I got to ECG, the data showed meter installations were at about 2,500 per month. Under the loss reduction project, by the time I was leaving, ECG had the capacity to install up to 100,000 meters a month.” This dramatic increase underscores the efforts made to improve efficiency and reduce losses within the company.