President John Dramani Mahama has called on organised labour to back the government’s plan to involve the private sector in billing and metering operations at the Electricity Company of Ghana (ECG), assuring that the move will not result in job losses.

Speaking to union leaders at Jubilee House on Tuesday, President Mahama said inefficiencies in ECG’s billing and metering processes have hindered the company’s operations and limited its ability to improve wages, working conditions, and social protections for employees.

“ECG is not being privatised, and no jobs will be lost. Under this arrangement, ECG will sell electricity to the private sector, which will handle billing and metering. ECG will receive its payments and continue to pay its employees. For emphasis, this is not privatisation,” he clarified.

The President noted that US$1.57 billion was spent in 2025 to settle legacy debts in the energy sector, bringing the total over the past nine years to about US$8 billion to address financial challenges.

He urged labour to support the government’s plan to create a new “institutional architecture” for ECG, emphasizing that the reform is designed with and for labour to ensure the long-term stability of public sector compensation.

President Mahama also highlighted the low pension coverage in the country, noting that pension assets currently stand at around GH¢100 billion—just seven per cent of GDP—well below continental benchmarks. “Less than two million workers out of ten million contribute regularly to pensions. Without action, the imbalance between contributors and retirees will worsen, threatening the sustainability of the system and the dignity of future retirees,” he said.

He revealed that the Ministry of Finance has been tasked with reviewing the pension structure, expanding coverage in the informal sector, modernising contribution systems, and strengthening governance and investment management.

“Together, we can build a remuneration system that is transparent and fair, a pension system that guarantees dignity in retirement, and an economy that rewards hard work. Our goal is clear: every Ghanaian worker must retire with dignity, security, and confidence in the pension system,” President Mahama concluded.