Hubtel says it has not received US$25million for ECG PowerApp software
Hubtel has responded to claims made recently by some civil society organisations (CSOs) on its work at the Electricity Company of Ghana (ECG) with the allegation that Hubtel has been paid $25 million.
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In a reaction, Hubtel indicated that the amount was only a figure set as the cost limit by the ECG Board at the start of the project.
The company added that these false statements made against its outfit are designed to discredit the work it has done in the recent record-breaking achievement in ECG’s revenue collection and commercial operations.
Additionally, the statement clarified that only US$12 million which amounts to about GH¢171 million has been used so far to overhaul ECG’s old and obsolete systems as part of the project.
On the claims of political ownership of the company, Hubtel said at no point since its founding has any of its shares been held or owned, directly or indirectly by a government official or any politically affiliated person.
Also, the company described as misleading, the claim that ECG could have simply bought the APIs from Hubtel or any other provider and had its engineers build the new commercial system.
Again the statement denied the claim that Hubtel gets 3% of electricity bought by ECG customers and notes that it only charges 1.95% on all transactions processed through its payment platform.
Of the said amount, Hubtel indicates that 1% is retained by the MoMO and card scheme providers while it receives 0.95% as fees.
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Further, the company challenges the claim to the effect that there has not been any improvement in ECG revenues since its involvement.
It notes that as of today, a monthly average revenue growth of over 210% has been achieved as a result of its work and the new commercial system providers and states that this is the longest-sustained record of monthly revenue growth in ECG’s collection history.
The company is thus urging the general public to disregard these misleading comments.
Attached below is a copy of the press release