Monies R. Captan’s tenure as Chief Executive Officer (CEO) of the Liberia Electricity Corporation (LEC) officially ended on November 30, 2024. Serving in this capacity since July 2022, Captan’s departure follows growing criticisms of his leadership and the LEC’s ongoing failure to address Liberia’s electricity challenges effectively. Despite overseeing the allocation of substantial international and Government funds, Captan’s time at LEC has been marked by public dissatisfaction with power supply issues and a lack of transparency in financial management.
From the outset of his tenure, Captan was tasked with addressing Liberia’s persistent power issues, including the country’s inadequate electricity supply and unreliable infrastructure. Critics argue that, despite receiving hundreds of millions of dollars in funding for the power sector, Captan failed to deliver meaningful reforms. The demand for transparency grew louder as his tenure progressed, culminating in public calls for financial accountability.
The demand for the outgoing CEO of LEC, Mr. Monie Captan, to account for his tenure is growing louder amid mounting calls for financial accountability. The Opposition Liberian People’s Party (LPP), led by Political Leader Tiawan Gongloe and Chairman J. Yanqui Zaza, has become one of the most vocal critics of Captan’s leadership, accusing him of withholding critical financial information. On November 4, 2024, the LPP formally requested that LEC release its audited financial statements from 2015 to 2023. Referencing the 2010 Freedom of Information Act, the LPP argued that the Liberian public had the right to understand how substantial funds, including loans and government subsidies, were managed. Among these funds are significant contributions from international development partners, including a $314 million loan from the International Development Association (IDA), $103 million from the African Development Bank (AfDB), and $257 million from the Millennium Challenge Corporation (MCC).
The LPP’s demand for these records highlights growing concerns about how these substantial financial resources were used, particularly when Liberia struggles with unreliable power supply. Zaza emphasized that without fully disclosing how these funds were allocated, the public couldn’t assess the effectiveness of LEC’s management. He pointed out that international reports, which often painted an optimistic picture of progress, did not align with the realities of everyday Liberians dealing with persistent power outages and infrastructure failures.
Senator Edwin Melvin Snowe, Jr., Chair of the Senate’s Hydrocarbon, Energy, and Environment Committee, echoed these concerns. On October 30, 2024, Snowe sent a letter to Captan, expressing his frustration with LEC’s lack of consultation with the Senate regarding a tariff increase proposal submitted to the Liberia Electricity Regulatory Commission (LERC). Snowe argued that such decisions should involve the Senate’s oversight, given the direct impact of energy costs on Liberia’s economy and citizens. He also emphasized the importance of financial transparency, calling for greater openness in LEC’s decision-making processes, particularly regarding public utilities and energy pricing.
The Liberia Electricity Regulatory Commission (LERC) further intensified the call for transparency by demanding that the LEC provide all supporting documentation for its tariff increase proposal. LERC, responsible for overseeing electricity pricing in Liberia, also announced plans for public hearings and consultations to allow citizens, civil society groups, and other stakeholders to voice their concerns. These sessions aim to ensure that any changes to electricity pricing are justifiable and not arbitrary, particularly in light of Liberians’ struggles with unreliable power supply and high energy costs.
The situation has drawn significant public attention, as many Liberians have long questioned the lack of accountability in the country’s power sector. Despite the injection of millions of dollars in funding, many continue to suffer from unreliable electricity, high costs, and outdated infrastructure. The calls for financial transparency reflect a growing demand for answers about where the money allocated for electricity improvements has gone and why progress has been so slow.
In response to the mounting pressure, Captan defended his leadership in a press conference on November 27, 2024. He pointed to several achievements during his tenure, including restoring thermal generators at Bushrod, which added 28MW to Liberia’s energy supply. Captan also highlighted a key agreement with CIE/CI Energies of Côte d’Ivoire, which began supplying 27MW of electricity to Liberia by December 2022. This agreement helped alleviate the power shortages experienced during the dry season of 2023. Additionally, Captan noted that the country’s total energy supply increased from 56MW in 2022 to 107MW by mid-2023, offering some relief to a country that has long faced challenges in meeting its electricity demands.
Under Captan’s leadership, LEC also saw an increase in energy supply, which reached over 460,000MWH in 2023, compared to 275,000MWH in 2022. By October 2024, LEC had already supplied over 430,000MWH, with projections indicating a total of 520,000MWH by the end of 2024—an 88.79% increase. Captan attributed this growth to a series of initiatives, including repairing thermal units, expanding the national grid, and improving energy procurement from neighboring countries.
However, despite these energy supply improvements, LEC’s financial state remains a concern. Captan acknowledged that the corporation’s net loss had decreased from $27.2 million in 2022 to $18.3 million in 2023, with expectations of further reduction to $11 million by the end of 2024. While these figures represent progress, the company still struggles with high operating costs and a significant financial gap. Captan cited the growing geographic span of the national grid and rising energy supply costs, including increased reliance on expensive imported energy, as contributing factors to LEC’s financial challenges.
LEC’s revenue has increased significantly under Captan’s leadership, rising from $24 million in 2022 to a projected $68 million by the end of 2024. This growth has been driven by efforts to reduce commercial losses, which have dropped from 41.3% in 2022 to 27.5% by October 2024. Captan attributed this success to initiatives such as creating an Anti-Power Theft Task Force, more robust metering, and greater oversight of large customers. However, the question remains whether these efforts will be enough to turn around the company’s financial health in the long term.
Despite Captan’s defense of his record, the public remains unconvinced that LEC has sufficiently addressed the nation’s energy needs. Many citizens continue to experience power outages, and the cost of electricity remains prohibitively high for many Liberians. This has led to growing frustration, especially as Captan leaves office amidst increasing calls for financial transparency and accountability.
As Captan’s tenure closes, LEC’s future remains uncertain. The calls for transparency surrounding the corporation’s financial practices are unlikely to subside anytime soon, and the Boakai administration now faces the difficult task of addressing these concerns. The outcome of the public hearings and consultations planned by LERC, along with the continued scrutiny of LEC’s financial records, will likely have far-reaching implications for the future of the country’s electricity sector.
Whether legal action will be pursued against Captan for any alleged mismanagement during his leadership remains to be seen. What is clear, however, is that the future of Liberia’s electricity sector depends on restoring public trust and ensuring that financial resources are managed transparently and efficiently. Only time will tell if the Boakai administration can address these pressing concerns and provide the Liberian people with the reliable and affordable electricity they have long been promised.
