Hubtel, a technology firm working with the Electricity Company of Ghana (ECG), has denied allegations that it was paid $25 million for its role in developing the PowerApp software.

In a statement responding to what it called "false claims" made by certain Civil Society Organisations (CSOs) and media commentators, Hubtel clarified that it had not received the alleged sum.

The company explained that the $25 million figure was a projected cost limit approved by ECG’s Board of Directors at the start of the project.

To date, around $12 million of the projected amount has been spent on modernising outdated systems and improving ECG's operations, including the development of the PowerApp.

Hubtel also addressed allegations that it receives 3% of the value of electricity purchased by ECG customers, clarifying that it charges a fee of 1.95% for transactions processed through its payment platform for merchants and retailers, with Hubtel's actual share being 0.95%.

Responding to claims that ECG’s revenues have not improved since Hubtel's involvement, the company pointed to a 210% increase in average monthly revenue growth compared to August 2022.

Hubtel credited its work and the new commercial systems for the increase, which it said represents the longest-sustained period of revenue growth in ECG’s history.