Source: newsthemegh.com
Employees of the Ghana Grid Company, or GRIDCo, are blaming Ghana’s distribution company, the Electricity Company of Ghana (ECG), for the company’s problems and threatening to bring back “dumsor” this Christmas if the company’s financial situation is not improved immediately.
They claim that because of the non-working Cash Waterfall Mechanism, GRIDCo does not appear to be in good financial condition. This has caused significant distress to the company’s operations, and if a solution is not found very away, it may have an impact on the quality of services provided to clients.
They said, “The Cash Waterfall Mechanism, which is used as the mode of payment to the industry players within the sector, is not working and is suspected to have been discontinued,” which is the key reason for the negative cash flow scenario.
The Senior Staff Association’s National Chairman, Wisdom Kojo Adenyo, is signing a letter to the Minister of Energy, the Board Chairman, and the Chief Executive of GRIDCo that the staff is directing blame at ECG for not paying them in full for the services the company provided.
They clarify that GRIDCo invoices ECG, a significant client, more than GH₵100 million a month, of which only roughly 18% to 25% is paid—and that payment is erratic.
“There are no plans to redeem the portion of the revenue that is sitting in our books. Due to the current circumstances, it has become challenging to pay suppliers and obtain the necessary equipment, supplies, and spare parts, all of which have a negative impact on the company,” they stated.
The employees of GRIDCo claim that the company’s continuous cash flow issues have an impact on not just business operations but also customer service and employee well-being in general.
They are raising the possibility of a relapse into the sporadic power outages that the nation experienced a few years ago.
“We, the staff groups, would like to advise that smooth power supply cannot be guaranteed, particularly during this holiday season and in the future, unless the Cash Waterfall Mechanism is promptly restored or alternative financial support is provided for GRIDCo.”