Monie Captan, Chief Executive Officer (CEO) of Liberia Electricity Corporation has a two-year contract now nearing its expiration date of November 30, 2024; however, his dismal performance report in the possession of Verity News calls for President Joseph Nyumah Boakai’s careful thought on considering Captan’s continuity at the country’s lone and under-performing energy provider.
In December of 2022, Captan was considered and given a contract by the Liberian government to take over LEC and deliver the nation’s struggling energy company from repeated failures and onward collapse, but the CEO who milks nearly US$20,000 monthly in salary, has failed to deliver and continues to break all regulations governing the entity.
Verity’s sources, including documentary evidence, have it that the US$17,514 salary CEO has, over the months operated LEC unilaterally, disobeying the founding principles of exchange of ideas with the Board of Directors which is clothed with the authority to advise.
“Captan has been and is involved in decision-making processes independently, particularly on significant matters such as employment, salary changes, and organizational restructuring, without seeking or obtaining proper approvals from the Board. This undermines the established governance structure,” a highly placed unimpeachable source told Verity News.
Like it is at many public entities across the country where heads have become unguided and careless about working for the good of the public, Captan has fallen short of further enjoying the confidence of some Board members who think the latter should be replaced and asked to account for his stewardship in the period nearing its conclusion.
“He is bypassing the necessary approvals, demonstrating a disregard for the established decision-making protocols, which are critical for ensuring accountability, oversight, and adherence to organizational guidelines,”
Captan’s contract, which is in the possession of Verity News calls on him to prepare high level briefs with relevant information on progress, achievements, bottlenecks, issues, and suggestions to the board and stakeholders but has failed to accomplish in his nearly two years of service.
LEC was created an Act of Legislation in 1973 with the mandate to produce and supply economical and reliable electric power to the entire nation, while at the same time maintaining the corporation’s financial viability
According to the contract, the CEO is to increase domestic and commercial connections by 7.5 percent per calendar year; reduce commercial losses by 2.5 percent per calendar year and reduce technical losses by 2 percent per calendar year but LEC’s performance results indicate failure to meet the demands.
Additionally, Captan, as CEO of LEC was called upon to deliver a 5 percent increase in LEC received revenue per calendar year; maintain 75 percent generation reliability at Mount Coffee Hydro Power Plant as well as deliver the first utility scale solar power plant within 36 months from appointment but there is no evidence of his achievement of said indicators as per the contract’s arrangement.
Having failed to comply with the regulations and legal frameworks that govern the operations of the Liberia Electricity Corporation, including provisions outlined in the LEC Act of 1973, the By-laws of 2009, and the 2015 Act.
Although a US$238 Million Compact Challenge facility was awarded to Liberia following the country’s passing of key governance indicators as outlined by the US government, the facility has fallen short of impacting lives in the area of sustainable electricity supply.
USAID’s 2023 report on Liberia’s power supply efficiency has put the country at a flat failing rate due to the lack of meeting the target set in place for the the rebuilding and transformation of the electricity grid reaching the mass of the population of less than six million.
The MCC Liberia Compact of 2016 to 2021 was designated to encourage economic growth and reduce poverty by providing access to more reliable and affordable electricity but the country has fallen short of achieving the goal as less than majority of places and people continue to live in darkness and lose touch with modernity.
Mount Coffee Hydro Power plant has been and continues to be the country’s major source of national power supply reliance, even though its 75 megawatts capacity remains unimproved due to lack of proper management and leadership.
Creating more woes for the country, Liberia has subscribed to Ivory Coast’s electricity supply line with the purpose of serving people in Nimba, Bong and the Southeastern Counties but LEC was called to public in August by the Ivorian Electricity Management authorities for failing to pay for the service delivery.
“We are writing to alert you to situation of your institution in our books. To date, your outstanding bills amount to USD Nineteen Million Six Hundred and Ninety-one thousand six hundred and forty-seven United States Dollars (19,691,647) as of the end of June 2024,” the Ivorian electric grid management wrote LEC on August 26, 2024.
The notification continued: “This level of unpaid bills represents an unsustainable burden for the Ivorian Electricity Sector, which is currently experiencing financial difficulties exacerbated by the increase in electricity operation costs.
Furthermore, please note that during our last collection visit in February 2024, you informed us of new clearance plan with a view to reducing the level of unpaid MV bills. To date, this plan has not been complied with, as no payment has been made since the start of the period covered by the plan.
Therefore, please note that, in the absence of a response from you within 15 days regarding the above mentioned situations, we will have no other choice than to implement the provisions of Article 11.4 and 21.3 of the Power Sale agreement, relating respectively to the suspension of power supply and termination in the event of default by the purchaser.”
Ivory Coast got its independence on August 7, 1960 compared to Liberia that boasts of being independent since 1847 when no country on the continent of Africa could dare mentioning a wish to be independent lest mention declaring said freedom amid imperialist control.
Captan whose bank account number with United Bank Africa (UBA) Liberia is 53030250033130 with the swift code of UNAFLRLMXXX is among the select few pocketing huge sums without service delivery as majority of the people suffer.
With Captan is a Ghanaian national named Mr. Kwame Kpekpena who serves as chief operation officer of the company. Kpekpena receives a monthly salary of US$26,655. Like Captan, the Ghanaian has failed to deliver on his contract’s terms of reference which calls of adequate expertise to alleviate the rotten and troubling situations of the company.Similar to Captan’s KPIs is Kpekpena’s but the duo has miserably failed to meet all performance indicators according to detailed findings inscribed in an evuation brief of MCC.
A nation blessed with many natural resources, including ceaseless flowing rivers has failed to to provide for its people access to stable and sustainable power supply.
By David S. Menjor
