2024 Auditor-General’s Report: Clarification on ECG Payments and Contractual Cover

July 29, 2025 | 2 minutes read

Following the publication of the 2024 Auditor General’s report, public commentary has raised questions about whether Hubtel received GHS 75 million from the Electricity Company of Ghana (ECG) without a governing contract.

For the record, we wish to clarify as follows;

1. No Payment Made To Hubtel in 2022

For the avoidance of any doubt, no payment was made to Hubtel by ECG for the works implemented in 2022. As per the requirements of the Board Concept Paper, Hubtel covered all costs in relation to the development and deployment of the platform until the targeted monthly revenue of GHS 1 Billion was attained.

2. Board Concept Paper (executed in August 2022)

ECG’s Board formally adopted the Digital Payment Platform & Revenue Assurance Concept Paper (the Board Concept Paper) in August 2022.

That paper, as executed by both ECG and Hubtel, authorised the platform rollout and expressly sanctioned all project-related payments made prior to a long-form contract. Thus, any payment made prior to the signing of the long-form contract was covered by the executed Board Concept Paper.

3. Executed Services Agreement (executed in March 2024)

Hubtel and ECG subsequently executed the Digital Payment Platform Services Agreement (the long-form contract), effective 1 January 2024.

Article 3 of the Agreement ratifies and regularises the GHS 75 million paid in 2023 (and not in 2022 as reported or claimed) for implementation work and sets out the commercial terms for ongoing services.

4. Legal Filing

Both of the executed Board Concept Paper and the executed long-form agreement are lodged with the legal units of both ECG and Hubtel.

Accordingly, payments to Hubtel – including the GHS 75 million referenced in media reports – are fully covered by binding instruments approved by ECG’s Board and executed by both parties.

Assertions to the contrary are factually unfounded.