Ghana’s government paid $1.47 billion in 2025 to clear legacy energy sector debts, restoring a depleted World Bank guarantee and settling arrears with power producers, the West African nation’s Finance Ministry said this Monday.<\/p>\n
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Ghana’s power sector has been grappling with widespread unpaid debts that have led to a sharp increase in outages. Last year, President John Dramani Mahama promised to reduce the $2.5 billion owed to independent power producers and gas suppliers.<\/p>\n
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“The era of uncontrolled energy sector debt accumulation is over,” the ministry said in a statement, adding that disciplined financial management had enabled the payments while securing provisions for timely future obligations.<\/p>\n
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The ministry said the government had repaid over $597 million to the World Bank, fully restoring the partial risk guarantee for gas supplies from the Offshore Cape Three Points field.<\/p>\n
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The guarantee, established in 2015, was designed to protect nearly $8 billion in private investment in the energy sector. Its depletion had damaged the government’s credibility with international partners.<\/p>\n
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An additional $480 million was paid to Italian energy company ENI and commodities trader Vitol for outstanding gas invoices related to electricity generation through the Sankofa Gas Project, the Ministry said.<\/p>\n
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The government also settled approximately $393 million in legacy debts owed to independent power producers, including $120 million to Turkey’s Karpowership and $59.4 million to Cenpower Generation, according to a breakdown provided by the Ministry.<\/p>\n
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Independent power producers said in a separate statement that the clearance of long-outstanding obligations represents a major milestone in restoring financial stability and operational confidence across the power sector.<\/p>\n
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The government has also renegotiated all agreements with independent power producers and is working with Tullow Oil and Jubilee Field partners on a payment roadmap, the Ministry said.<\/p>\n
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–Reuters–<\/p>\n","protected":false},"featured_media":22313,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-22312","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Ghana's government paid $1.47 billion in 2025 to clear legacy energy sector debts,","published_date":"2026-01-12 13:53:40","news_description":"Ghana's government paid $1.47 billion in 2025 to clear legacy energy sector debts,","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22312\/revisions"}],"predecessor-version":[{"id":25652,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22312\/revisions\/25652"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/22313"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=22312"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=22312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}