'You can't use cedi stability to justify loses' — Afenyo-Markin tells NDC govt to fix ECG, GoldBod, COCOBOD inefficiencies

Minority Leader in Parliament, Osahen Alexander Kwamena Afenyo-Markin, has urged the government to undertake major reforms in the energy and gold sectors instead of imposing additional financial burdens on Ghanaians.

Speaking to the media in Accra on Monday during a courtesy visit by the Asafo Cultural Troupe, the Effutu MP said the government must focus on plugging revenue leakages within the Electricity Company of Ghana (ECG) before increasing electricity tariffs.

He cited illegal connections, non-payment of electricity bills and weaknesses in revenue collection as major challenges that needed to be addressed to improve the financial position of the power sector.

“You can’t pay so much for power production, and you cannot get revenue out of what you pay. Many people don’t pay for electricity they consume. Many factories, many homes—there are a lot of illegal connections. That is one area that they have an opportunity in. Fix it,” he said.

Mr Afenyo-Markin described the recent 29 per cent increase in electricity tariffs and the introduction of a GH¢1 levy as an attempt to rely on readily available revenue sources rather than tackling systemic inefficiencies.

He argued that greater investment in technology and efficient systems could help reduce losses and improve revenue mobilisation within the energy sector.

GoldBod losses
Turning to the gold sector, the Minority Leader raised concerns about the financial implications of the Domestic Gold Purchase Programme and GoldBod operations, citing findings from an International Monetary Fund (IMF) audit.

He alleged that the State had incurred losses of about GH¢21 billion, arguing that the financial cost of the programme could not simply be justified by its contribution to the stability of the cedi.

“The IMF that audited the implementation is saying the losses go beyond the economic cost argument. Government cannot attribute the losses to economic cost. Yes, you have chalked up some successes; it has contributed to the stability of the cedi. But you have brought success at an unimaginable cost,” he stated.

Mr Afenyo-Markin said the Minority Caucus would push for the establishment of an Ad Hoc Committee to investigate the matter when Parliament resumes.

He added that the Chief Executive Officer of GoldBod had expressed willingness to appear before such a committee.

Private sector must drive job creation

On employment and economic growth, the Minority Leader criticised what he described as excessive reliance on state institutions to absorb unemployed Ghanaians.

“We cannot continue to use bureaucracy and state institutions to create jobs. The economy will crash. You go to the Bank of Ghana, Ghana Gas, COCOBOD, ECG, Ghana Water—all state institutions are choked. What we need is a policy to drive the private sector,” he said.

He called for policies that would create a conducive environment for private businesses to expand and employ more people.

He also urged the government to leverage digital technologies and Artificial Intelligence (AI) to equip young people with the skills and opportunities needed to establish businesses and become entrepreneurs.

Mr Afenyo-Markin also questioned the implementation of the proposed 24-hour economy policy, describing it as excessively bureaucratic and lacking the structures required to make it effective.

Poultry initiative
The Minority Leader further raised concerns about the implementation of the Nkoko Nkitinkiti poultry initiative.

He alleged that some beneficiaries were consuming the birds instead of raising them for production and sale, arguing that such practices could undermine the programme's intended economic benefits.

He said government interventions should be designed to create sustainable economic opportunities rather than encourage beneficiaries to consume resources intended as productive investments.

Alleged intimidation
Mr Afenyo-Markin also accused the government of using arrests and threats of investigations to intimidate NPP Members of Parliament and suppress opposition voices.

He maintained, however, that his criticisms were aimed at government policies and not individuals.

According to him, the government must urgently address policy weaknesses and strengthen the economy to preserve the recent stability of the cedi while reducing the financial pressure on ordinary Ghanaians.