Hubtel, a prominent technology company in partnership with the Electricity Company of Ghana (ECG), has firmly refuted allegations that it was paid $25 million for its work on the PowerApp software.
In a statement addressing what it described as “false claims” from certain Civil Society Organisations (CSOs) and media commentators, Hubtel clarified that it has not received the said amount.
The company explained that the $25 million figure was only an estimated budget set by ECG’s Board of Directors at the project’s outset.
So far, around $12 million of the projected $25 million has been spent on upgrading outdated systems and improving ECG’s operations, including the development of the PowerApp.
Hubtel also responded to accusations that it receives 3% of the value of electricity purchased by ECG customers.
Hubtel clarified that it charges a fee of 1.95% on all transactions processed through its payment platform for merchants and retailers, with Hubtel’s actual share being 0.95%.
The company also addressed reports suggesting that ECG’s revenues had not improved since Hubtel’s involvement.
It argued that, as of the time of the statement, ECG has experienced an average monthly revenue growth of over 210% compared to August 2022, which it credited to Hubtel’s contributions and the work of new commercial system providers.
According to Hubtel, this represents the longest sustained period of monthly revenue growth in ECG’s history.
SOURCE : Obikyere Abigail Seyram
