Co-Chair of GHEITI, Dr Steve Manteaw
The Co-chair of the Ghana Extractive Industry Transparency Initiative, Dr Steve Manteaw, has raised concerns about the exclusion of roughly 50% of ECG’s revenue from the Cash Waterfall Mechanism (CWM).
In his October 21 interview on Joy News’ PM Express, he emphasised the potential credibility issues this exclusion creates for the energy sector’s financial recovery considering that it was designed to ensure fair distribution of funds to sector players.
“It surprises me that despite the substantial jump in revenue, about 50% of the funds generated are kept outside the CWM,” Dr Manteaw told host Evans Mensah on Monday.
The CWM was introduced as a financial innovation to manage the sector’s liquidity, ensuring that all stakeholders received their share of the revenue.
However, Manteaw believes its current implementation falls short of resolving the industry’s financial challenges.
