ECG’s Revenue Increased from GH¢1.2m to GH¢450m through Digitization – Veep Bawuma

Getting your Trinity Audio player ready...
The digitization efforts undertaken by the Ghanaian government have had a profound impact on the country’s economy, particularly evident in the increased revenues of key institutions. The Electricity Company of Ghana (ECG) is a prime example, as it has experienced a substantial surge in its monthly revenues, rising from around GH¢450 million to approximately GH¢1.2 billion.

Vice President Dr. Mahamudu Bawumia, who is leading the digital revolution in Ghana, revealed that the ECG’s revenue had remained stagnant at GH¢450 million for a continuous period of four years. However, with the implementation of digitization initiatives, the company’s revenue has witnessed a remarkable increase, leading to a significant boost in its financial performance.

During his speech at the National Development Conference, which focused on the theme “Moral Vision and National Development,” Vice President Dr. Mahamudu Bawumia addressed the significant increase in revenue experienced by the Electricity Company of Ghana (ECG) due to the government’s digitization efforts. He revealed that the substantial rise in revenue, from around GH¢450 million to approximately GH¢1.2 billion per month, prompted the government to take further action.

Recognizing the importance of understanding the factors behind this significant revenue growth, the government decided to assemble a team of experts. The purpose of this team was to conduct a thorough study of the revenue architecture of the Electricity Company of Ghana. By examining the various components and mechanisms that contributed to the revenue surge, the government aimed to gain valuable insights into the success of its digitization initiatives and identify areas for further improvement.

The positive impact of digitization is not limited to the power sector alone. Dr. Bawumia also highlighted the improvements in revenue mobilization at the passport office, where revenue figures have soared from GH¢1 million to GH¢64 million. This remarkable growth indicates the effectiveness of digital processes in enhancing revenue collection and streamlining operations.

Also Read: Osofo Kyiri Abosom Vows to Jail Cecilia Dapaah if Elected President

In times past, it used to be easy to lie about your age and get away with it, particularly in the government sector. At the port, for instance, we have introduced the paperless system, and this came with resistance. Some of the customs officers organized demonstrations against the move, but we were firm on our stance. Today, at the offices of ECG, you can buy your credit without any challenges.

The challenges with ECG initially were that the revenues of ECG were constant and the values were the same. We looked at the architecture of revenue of ECG and we changed it. They were collecting GH¢450 million a month as revenue. We sent in a team to work on their system. There were sabotage attempts, such as people sending viruses into the system to destroy our work, but we were resilient and brought in a whole new architecture for ECG. Today, they make over 1 million cedis as revenues monthly. The same happened at the passport office, which was making 1 million cedis to over GH¢65 million,” he stated.

Moreover, the Vice President emphasized that digitization has contributed to the enhanced efficiency of the public sector and has played a crucial role in reducing corruption. By embracing digital technologies, various government agencies have streamlined their operations, minimizing bureaucratic bottlenecks and fostering transparency in service delivery.

In conclusion, he explained that, Ghana’s journey towards digitization has yielded impressive results, particularly in bolstering the revenues of key institutions like the ECG and the passport office. The reduction in corruption and increased efficiency across the public sector further validate the transformative potential of digital initiatives in driving economic growth and development.

Leave a Comment

Bend The Trend Boutique
For all your Unisex clothes, footwears, bags, accessories and hair extensions; Contact Bend The Trend Boutique on 0508937174

Copyright ©2024 Ted News Ghana. All rights reserved.