The Electricity Company of Ghana (ECG) has initiated a comprehensive audit of its major agreements, including the one it holds with local fintech firm, Hubtel, as part of its efforts to strengthen legal compliance and safeguard public funds.
Appearing before Parliament’s Public Accounts Committee on Tuesday, October 28, 2025, Acting Managing Director of ECG, Julius Kpekpena, revealed that the utility company has engaged the services of a legal expert to examine all key contracts to ensure they meet the standards set under Ghana’s Public Financial Management (PFM) Act.
According to him, the exercise is meant to align ECG’s commercial engagements with existing financial laws and to guarantee that the company receives full value for every transaction it enters into.
“We’ve hired a lawyer to undertake a full review of our major contracts, including the Hubtel agreement, to make sure they comply with the law and reflect best practices,” Kpekpena told the committee.
He further clarified that the PFM Act requires ECG to receive its revenues in full without any deductions before settling payment processing fees or other costs.
“The law insists that we collect all revenues at gross. Therefore, Hubtel must remit funds to us in full before we account for any associated charges,” he explained.
Under this model, ECG is expected to bear additional costs for processing fees charged by Mobile Money operators and card payment providers.
The announcement follows ECG’s recent decision to reduce Hubtel’s transaction commission from 3 per cent to 1.65 per cent, a move aimed at improving efficiency and ensuring fiscal prudence.
Hubtel, one of Ghana’s top digital payment companies, handles ECG’s electronic payment systems, facilitating Mobile Money, card, and online transactions.
The arrangement remains a key component of the state power distributor’s digital transformation and the government’s broader cashless payment agenda.
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