Samuel Dubik Mahama, Managing Director of the Electricity Company of Ghana (ECG), has resigned for personal reasons. His resignation, confirmed by sources at JoyNews, comes after being appointed by President Akufo-Addo in May 2022, following the retirement of his predecessor, Kwame Agyeman-Budu.
In his resignation letter, Mahama expressed gratitude to the President for the trust placed in him during his tenure at ECG.
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Mahama’s departure coincides with rising tensions between ECG and the Public Utilities Regulatory Commission (PURC). A recent PURC report raised concerns about ECG’s financial instability, highlighting potential bankruptcy and operational challenges affecting the Volta River Authority (VRA) and Ghana Grid Company (GRIDCo). The report cited delays in salary payments and administrative costs, despite efforts by ECG to improve cash flow through digital initiatives and significant tariff increases.
ECG has criticized the PURC’s review of the Cash Waterfall Mechanism, accusing it of misrepresenting issues like fuel costs and payment delays to Independent Power Producers (IPPs), and called for more accurate reporting to address the sector’s challenges.
