ECG Streamlines Operations, Cuts Hubtel Commission in Contract Overhaul
The Electricity Company of Ghana (ECG) is undertaking a significant review of its key agreements, starting with its contract with Ghanaian fintech company, Hubtel. This initiative aims to ensure legal compliance and optimize the use of public funds within the utility company’s operations.
# Contract Review and Legal Compliance
Acting Managing Director of ECG, Julius Kpekpena, informed Parliament’s Public Accounts Committee on Tuesday that the company has enlisted a legal expert to conduct a thorough examination of all major contracts. The primary objective is to verify that these agreements adhere to the stipulations of Ghana’s Public Financial Management (PFM) Act. This process will ensure that ECG’s commercial engagements are fully aligned with existing financial laws and that the company secures maximum value from all its transactions. A key aspect of this review is to adjust commission structures, including those impacting partners like Hubtel. While specific details of commission adjustments were not disclosed, the overall aim is cost optimization and legal compliance.
In conclusion, ECG’s proactive approach to contract review and compliance underscores its commitment to financial responsibility and transparency. By scrutinizing agreements and optimizing commission structures, the utility company seeks to enhance its operational efficiency and ensure optimal utilization of public resources.
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