The Board of Directors of the Electricity Company of Ghana (ECG) says the company is unable to pay dividends to sole shareholder for the year 2025.

It said though its finances have improved over the last year, it did not break even to be able to pay a dividend.

Addressing the 18th Annual General Meeting of the company in Accra on Thursday (July 30, 2026), the Board Chairman, William Amuna said ECG's revenue grew by 16.2 per cent to GH¢22,109million

Liabilities resulted in a loss after tax of GH¢2,521.20million, in 2025, which was a significant improvement on the GH¢8,255.80 million recorded in 2024.

"In view of the financial outcome for the year and the company's retained losses position, the Directors do not recommend the payment of dividend," Mr Amuna told the meeting.

The AGM, the first in over eight years, was attended by the sole shareholder, the state, represented by the Ministry of Finance and the State Interest Goverance Authority ( SIGA).

Also in attendance were members of the board, ECG management and other stakeholders such as the Public Utilities Regulatory Authority (PURC), GRIDCo, the Volta River Authority (VRA) and independent power producers.

Mr Amuna said the board acknowledged the need to restore the company's financial position and had thus supervised the implementation of government's proposed reforms which were already yielding results.

The board, he said, remained committed to implementing measures to strengthen ECG's long-term financial sustainability.

"The Board is working with management and engaging Government and the regulatory stakeholders on a sustainable long-term financing framework for the distribution sector," he stated.

Mr Amuna further said the board has endorsed a four-channel strategy for debt reduction, tariff full cost recovery, loss reduction, improved collections and the growth of other income streams.

"This strategy has been endorsed by the Board and is being actively pursued by management," the ECG board chairman told the AGM.