The Electricity Company of Ghana (ECG) will not pay a dividend to the state for the 2025 financial year after recording another annual loss, despite a significant improvement in its financial performance.
The announcement was made by the Board Chairman of ECG, William Amuna, during the company’s 18th Annual General Meeting (AGM) held in Accra on Thursday, July 30, 2026.
According to Mr Amuna, ECG’s revenue increased by 16.2% to GH¢22.109 billion in 2025. However, the company still recorded a loss after tax of GH¢2.521 billion due to its liabilities, although this represented a substantial improvement from the GH¢8.256 billion loss reported in 2024.
“In view of the financial outcome for the year and the company’s retained losses position, the Directors do not recommend the payment of dividend,” Mr Amuna told the meeting.
The AGM, the first to be held in more than eight years, was attended by the company’s sole shareholder—the Government of Ghana—represented by the Ministry of Finance and the State Interests and Governance Authority (SIGA).
Also present were members of the ECG Board, senior management and key stakeholders from the energy sector, including the Public Utilities Regulatory Authority (PURC), the Ghana Grid Company (GRIDCo), the Volta River Authority (VRA) and Independent Power Producers (IPPs).
Mr Amuna said the Board has been overseeing the implementation of government-led reforms aimed at restoring the utility’s financial health, adding that the measures are beginning to yield positive results.
He reaffirmed the Board’s commitment to strengthening ECG’s long-term financial sustainability through continued collaboration with management, government and industry regulators.
“The Board is working with management and engaging Government and the regulatory stakeholders on a sustainable long-term financing framework for the distribution sector,” he said.
The ECG Board Chairman also disclosed that the Board has approved a four-pronged strategy to improve the company’s financial position. The plan focuses on reducing debt, achieving full cost recovery through tariffs, cutting system losses, improving revenue collection and expanding alternative sources of income.
“This strategy has been endorsed by the Board and is being actively pursued by management,” Mr Amuna added.
The Board expressed optimism that the ongoing reforms will place ECG on a stronger financial footing and enhance the long-term sustainability of Ghana’s electricity distribution sector.
