Over the years, the struggle to buy ECG prepaid credit has never been an easy task, and in today’s guide, we are going to elaborate on how to start ECG prepaid business in Ghana.
Some years ago, the pressures that were mounted on the Electricity Company OF Ghana weren’t easy for them to handle.
The human traffic at their offices was a mind-blowing scene to witness
The human traffic happens at the offices because that was the only place one can purchase ECG prepaid credit for their electricity.
But for some time now, the introduction of the ECG prepaid vending business has contributed by cutting some pressures off the Electricity Company Of Ghana (ECG).
Are you willing to help cut off the pressures of the ECG by starting a prepaid vending business?
This article will then guide you through the procedures of how to start your ECG prepaid business in Ghana.
Table of Contents
Necessary Requirement To Meet Before You Start The ECG Prepaid Business In Ghana
To start the prepaid vending business, remember you’ll have to provide some documents, necessities, and equipment for approval by the ECG before you will be allowed to operate.
Below are the Electricity Company Of Ghana(ECG) requirements to start a prepaid business:
1. Appropriate Location – location is supposed to be 3km away from an already existing ECG prepaid vendor. Also, the servers of the ECG should be able to operate at your business location.
2. A burglar-proof shop is a requirement by the Electricity Company Of Ghana (ECG)
3. Good furniture for vendor and customers should be available
4. A desktop computer or laptop should be made available.
5. Register your business
How Much Does It Cost To Start ECG Prepaid Business in Ghana
To become a prepaid vendor, you’ll need a minimum capital of 2,000 Ghana cedis. The only capital requirement to meet is to have 2,000 Ghana cedis or more.
Any amount less than the minimum capital instructed by the ECG is not acceptable.
How To Contact The Electricity Company Of Ghana For Business Approval
For your prepaid business to commence, you’ll need approval from ECG. The process of reaching out to the Electricity Company Of Ghana is as follows;
1. Write a business letter to the general manager of the regional branch of ECG you want to start your business.
2. Attach an original copy of your business certificate to your letter.
3. When the general manager accesses your job proposal letter, the ECG personnel will come and check on your location to see whether it meet the requirement.
4. When your business meets the standard for approval, the ECG will provide your business with a free card reader and printer.
The steps above are to guide you on how to reach the Electricity Company Of Ghana for your business approval.
How Profitable Is The Electricity Company Of Ghana Prepaid Business In Ghana
The ECG pays a constant commission of 2.5% based on your sales at the end of every working month.
Note: commission comes in the form of credit, so it depends on the vendor to sell credit for physical cash or use credit for his or her electricity.
Best Places To Run The ECG Prepaid Shop
The best places to set up your prepaid vending business are as follows;
1. Along busy roads
2. Filling stations
3. Commercial areas
4. Market centers
How To Run A Successful ECG Prepaid Business In Ghana
To easily run a successful ECG prepaid business in Ghana, the following must be practiced.
1. Stay reliable to your customers, so they don’t look elsewhere for services
2. Good customer relationship is required
3. Good customer care must be practiced
4. It takes hard work and determination to be successful
Challenges Faced When Running The ECG Prepaid Business In Ghana
The only challenge faced in this business is the inconsistency of the ECG system network.
Benefits Of Setting Up The ECG Prepaid Enterprise
The financial benefit of the prepaid vending business is quite impressive. Also, since demand is very high, there are always sales to be made.