ECG disconnects power to Fabrimetal Company over GH¢28illion debt

Business & Finance ECG disconnects power to Fabrimetal Company over GH28illion debt
MAR 23, 2023 LISTEN

The National Taskforce of the Electricity Company of Ghana has disconnected power to Fabrimetal Company, close to the Saglemi affordable housing unit, for failing to meet a four-month outstanding debt of GH¢28 million.

Since the national revenue mobilization exercise began last Monday, March 20, 2023, the company is the first to be disconnected.

To avoid disconnection, the majority of the private companies and state institutions visited thus far have settled half of their debts.

After a few minutes of drama with the management of Fabrimetal Company, the taskforce decided to disconnect the firm from the national power grid.

The largest steel manufacturing company in West Africa, B5 Plus Company Limited in Tema, saved its operations after facility managers paid GHc20 million to settle four-month ECG debt arrears of power consumed.

The ECG revenue mobilization taskforce, led by Laila Abubakari, Manager of External Communications, declined an earlier agreement by B5 Plus management to pay the GH¢20 million in instalments.

According to ECG’s manager of external communications, despite citing current economic challenges and the exchange rate as reasons for failing to pay their bills, ECG is also facing similar issues, which is why the company decided to embark on a one-month revenue mobilization exercise to recoup some of its debts.