The Public Accounts Committee (PAC) of Parliament has rescheduled the Minister for Works, Housing and Water Resources, the Managing Director of Ghana Water Limited (GWL), and other senior officials to reappear for hearing into the company’s financial performance.
The decision follows concerns raised over Ghana Water’s financial position, including declining revenue, a sharp rise in liabilities and a deficit of more than GH¢3 billion recorded in 2024.
PAC Chairperson Abena Osei-Asare said the rescheduling would give Minister Ahmed Ibrahim, GWL Managing Director Adam Mutawakilu and the company’s management adequate time to study the issues contained in the Auditor-General’s Report and return with explanations and relevant policy decisions.
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According to the Auditor-General’s Report, Ghana Water’s revenue declined marginally from GH¢2.113 billion in 2023 to GH¢2.109 billion in 2024, representing a fall of about GH¢4 million.
Despite the decline in revenue, the company recorded expenditure of GH¢5.167 billion during the same period, resulting in a deficit of approximately GH¢3.063 billion.
The financial challenges were compounded by increases in both current and non-current liabilities.
Ghana Water’s current liabilities rose by 24.9%, from GH¢3.129 billion in 2023 to GH¢3.908 billion in 2024, largely due to higher payables.
Non-current liabilities also increased significantly, rising by 26.7% from GH¢8.286 billion in 2023 to GH¢10.497 billion.
At the same time, the company’s non-current assets increased by 1.3%, from GH¢10.849 billion to GH¢10.993 billion, following the acquisition of additional property, plant and equipment.
Ghana Water management explained that some of the expenditure was necessary to replace ageing equipment at various water treatment facilities.
The explanation, however, failed to satisfy the Public Accounts Committee.
Ms Osei-Asare questioned why the company continued to rely on ageing equipment as a justification for borrowing, despite similar explanations being given over several years.
“From 2017 to 2024, I can count the number of loans that we’re taking on behalf of Ghana Water with the same explanation. Our equipment is 30 years old,” she said.
She also raised concerns about whether Ghana Water generates sufficient revenue to service its growing debts.
According to the PAC Chairperson, the company’s inability to generate enough revenue has increasingly shifted the burden of its debts onto the state.
“It’s not state-of-the-art, so we are going to use this loan for revenue collection, but revenue collection is nothing to write home about. Ghana Water ends up not being able to pay the loans, and then it sits on the back of government,” she observed.
Following the concerns raised, the Committee deferred the hearing to another date to enable the Minister, Managing Director and Deputy Minister to appear together.
Ms Osei-Asare said the Committee wanted the officials to provide a comprehensive account of Ghana Water’s finances and directly address the issues raised by the Auditor-General.
“Another time when the MD, the minister and you (the Deputy Minister) can come, and we can look at your financials properly and also look at the concerns that we have,” she said.
The rescheduled hearing is expected to place greater scrutiny on Ghana Water’s expenditure, revenue performance, borrowing and growing liabilities.
The Committee’s concerns also highlight broader questions about the financial sustainability of the state-owned water utility and its reliance on government-backed borrowing to maintain and upgrade its operations.