The Chief Executive Officer(CEO) of the Liberia Electricity Corporation (LEC), Monie Captan,
Has officially concluded his tenure at the corporation.
Mr. Captan ended his tenure at the end of November 2024.
Mr. Captan’s departure marks the end of a three-year leadership period characterized by significant achievements and challenges in Liberia’s energy sector.
Mr. Captan, who took the helm at LEC in June 2022, revealed during a press conference recently that his contract would not be renewed by the corporation’s Board of Directors.
The decision brings to an end his stewardship of LEC, which has seen major reforms in electricity supply and management across the country.
Reflecting on his tenure, Mr. Captan highlighted a series of milestones achieved under his leadership.
He noted that electricity supply had increased substantially, rising from 274,426 megawatts in 2022 to 430,344 megawatts in 2024.
“This represents significant progress in expanding energy access for Liberians, despite numerous operational challenges,” he stated.
Mr. Captan also acknowledged that the costs associated with energy supply had increased during his leadership, citing a decrease in the availability of hydropower from the Mount Coffee Hydropower Plant.
Despite this, he reported an impressive revenue growth, with the corporation recording $56.6 million by October 2024 and projecting $68 million by year’s end.
One of Mr. Captan’s notable achievements was the reduction of commercial losses to 27%, a feat he attributed to strategic initiatives implemented during his tenure.
These included the establishment of an anti-power theft task force, as well as the introduction of robust metering systems and the regularization of illegal customers.
“The reduction in commercial losses has not only improved LEC’s financial stability but also contributed to a fairer energy distribution system,” Mr. Captan remarked.
He emphasized that these measures were critical in addressing longstanding issues of inefficiency and revenue leakage within the corporation.
While Mr. Captan celebrated these accomplishments, his tenure was not without its challenges.
The reliance on diesel generators and the fluctuating availability of hydropower posed significant hurdles to achieving affordable and sustainable energy supply.
Nevertheless, he expressed optimism that LEC’s foundation had been strengthened to support future advancements.
The Board of Directors has yet to disclose the reasons behind its decision to rescind Mr. Captan’s contract renewal, but industry observers believe it may be linked to the persistent financial and operational hurdles faced by LEC.
Energy experts have commended Mr. Captan for his efforts to stabilize and expand Liberia’s electricity sector, describing his leadership as transformative despite the constraints.
“Mr. Captan’s tenure will be remembered for prioritizing efficiency and reducing energy losses, which are critical to Liberia’s energy development,” said Dr. Peter Gaye, an energy policy analyst.
Under Mr. Captan’s leadership, LEC also introduced several community-based initiatives to foster better customer relations and awareness about the importance of electricity conservation.
These programs reportedly contributed to increased public support for the corporation’s efforts.
As Mr. Captan prepares to depart, the search for his successor is likely to dominate discussions within Liberia’s energy sector.
Stakeholders are calling for a leader who can build on the outgoing CEO’s successes while addressing the persistent challenges of affordability and energy security.
During the press conference, Mr. Captan expressed gratitude to the LEC staff, government, and international partners for their support over the past three years.
“It has been an honor to serve Liberia in this capacity, and I am confident that LEC will continue to thrive under new leadership,” he said.
Mr. Captan’s departure comes at a time when Liberia is grappling with an urgent need to expand energy access to underserved communities.
As the country strives to meet its energy goals, many are hoping for continuity in the progress initiated under his tenure.
The outgoing CEO emphasized the importance of sustaining momentum in the sector, urging stakeholders to remain committed to LEC’s vision.
“Energy is the backbone of economic growth, and we must continue to work together to ensure that Liberia has a reliable and sustainable energy supply,” he concluded.
Mr. Captan’s legacy at LEC is expected to leave a lasting impact on Liberia’s electricity sector, setting a precedent for accountability, innovation, and resilience in the face of challenges.
As the leadership transition approaches, all eyes are now on the corporation’s next chapter.
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