Ghana’s 2024 Auditor-General report reveals a staggering GH¢18.4 billion in financial irregularities across public institutions – a 109% increase from 2023’s GH¢8.79 billion.
The energy sector alone accounted for GH¢15.8 billion (86%) of these discrepancies, exposing systemic failures in revenue reporting, debt management, and procurement oversight.
The findings emerge as Ghanaians pay a new GH¢1-per-litre Energy Sector Recovery Levy intended to stabilize the sector. The audit details alarming patterns:
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ECG under-declared GH¢2.95 billion in revenue, failed to remit GH¢1.29 billion to state agencies/IPPs, paid GH¢75 million to an un-contracted vendor, and withheld GH¢70.9 million in taxes
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Payment processor Hubtel operated without a valid contract until March 2024 yet deducted 1.5% commissions from GH¢10 billion in ECG revenues, with its backdated contract violating procurement laws
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Bui Power Authority reported $729 million in uncollected debts
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GNPC maintained undocumented loans and unverified oil reserves
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GRIDCo lacked required Environmental, Social, and Governance (ESG) policies
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BOST bypassed e-procurement regulations
The Auditor-General has called for urgent reforms and sanctions, noting the energy sector’s irregularities in 2024 nearly doubled the total national irregularities for 2023.
With recoverable energy-sector funds (GH¢15.6 billion) exceeding 1,500 times the projected monthly levy revenue (GH¢10 million), the report implicitly questions the levy’s necessity absent institutional accountability.
