Ghana’s ECG wins landmark arbitration over $390M PDS fraud dispute

A years-long legal battle ends as ECG escapes a crushing debt. How did fraudulent guarantees unravel PDS’s nearly $400 million claim?

, and Administrator

2025 November 6 . 9:12 AM

1 min read

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Ghana’s ECG wins landmark arbitration over $390M PDS fraud dispute

An international arbitration tribunal has ruled in favor of the Electricity Company of Ghana (ECG), upholding the termination of a concession agreement with PDS (L). The ruling, made in London, dismissed PDS's claim for a judgement debt of nearly $390 million.

The tribunal agreed with ECG's argument that the termination was justified due to fraudulent payment guarantees provided by PDS. ECG had initially terminated the agreement in 2019, leading PDS to file a lawsuit.

The Public Procurement Authority (PPA) was later tasked with addressing unauthorized expenditures exceeding GH¢180 million under the ECG contract in 2023. The tribunal's recent ruling brings closure to this long-standing dispute.

With the tribunal's decision, ECG can now move forward with its operations without the threat of a substantial judgement debt. PDS, on the other hand, must accept the ruling and explore other avenues for resolving the issues related to the terminated concession agreement.