Privatisation alone cannot resolve the deepening debt crisis in Ghana’s power sector, Energy Sector Specialist Dr. Nii Darko Asante has cautioned, urging a more structural and transparent approach to sector reform. Speaking during a High-Level Dialogue on “Addressing Ghana’s Energy Sector Challenges for Economic Transformation,” Dr. Asante emphasized that financial shortfalls in the power sector...
Category: Energy
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Namibia could achieve energy self-sufficiency by 2035
Namibia has the potential to meet all its electricity needs from local sources by 2035, but only if energy development is properly planned and supported by policy reform, a parliamentary committee has heard.Jean Basson, from the Renewable Energy Industry Association of Namibia (REIAoN), told MPs that Namibia’s current electricity demand of 600 to 700 megawatts...
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Energy Sector Accounts for 86% of GHS 18.4bn Public Financial Irregularities – Auditor-General’s Report
The energy sector has come under intense scrutiny following the release of the 2024 Auditor-General’s Report, which reveals that state institutions within the Ministry of Energy were responsible for GH¢15.8 billion out of the total GH¢18.4 billion in financial irregularities recorded across the public sector representing 86% of the total. The report highlights a sharp...
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New Study Warns the World is Running out of Time to Avoid the Worst Impacts of Climate Change
Bad climate news is everywhere. Africa is being hit particularly hard by climate change and extreme weather, impacting lives and livelihoods. We are living in a world that is warming at the fastest rate since records began. Yet, governments have been slow to act. The annual global climate change conference of the parties (COP30) is...
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Dangote Refinery Set to Overtake World’s Sixth Largest Refinery After Expansion to 700,000 Bpd
Dangote Refinery Set to Overtake World’s Sixth Largest Refinery After Expansion to 700,000 Bpd The $20 billion Dangote Petroleum Refinery in Lagos, Africa’s largest single-train oil refinery, is undergoing a strategic upgrade to expand its production capacity from 650,000 barrels per day (bpd) to 700,000 bpd by the end of 2025. This development marks a...
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*Energy Ministry Engages IPPs in $1.7 Billion Debt Renegotiation *
The Ministry of Energy and Green Transition has begun negotiations with Independent Power Producers (IPPs) to restructure $1.7 billion in outstanding payments, as part of efforts to ease Ghana’s energy sector debt burden, currently pegged at \$3.1 billion. Energy Minister John Abdulai Jinapor disclosed the ongoing engagements during a High-Level Dialogue themed “Addressing Ghana’s Energy...
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Dr. Ishmael Ackah: Generation Inefficiencies Deepen Ghana’s Energy Sector Debt Crisis
Dr. Ishmael Ackah, Advisor to the Minister for Energy and Green Transition, has sounded the alarm over persistent inefficiencies in Ghana’s power generation segment, describing it as the leading cause of the country’s growing energy sector debt. Speaking during a high-level stakeholder dialogue on “Addressing Ghana’s Energy Sector Challenges for Economic Transformation,” Dr. Ackah stressed...
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OPEC is Playing The Long Game
“There is no peak in oil demand on the horizon,” the head of OPEC, Haitham al Ghais, said last month in Canada. Demand will continue to increase as global population grows, he added. And OPEC will be there to respond with what supply is necessary. OPEC is now playing the long game. Fast-forward a month...
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AfDB and SEFA Provide $40 Million Investment in Equity Platform Zafiri to Accelerate Renewable Energy Access Across Africa
access across the continent. Project Zafiri will address the lack of longer-term equity that is constraining the growth of the DRE sector in Africa, Daniel Schroth, Director for Renewable Energy and Energy Efficiency, said, adding that by anchoring the junior equity tranche, SEFA is helping to crowd in private investment at scale. Zafiri aligns with...
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Stakeholders Call for Urgent Reforms as Energy Sector Inefficiencies Cost Ghana 2% of GDP
A strategic high-level dialogue convened by the Africa Centre for Energy Policy (ACEP), in partnership with the Open Society Foundations (OSF) and the Ministry of Energy and Green Transition, has spotlighted the deep-rooted structural inefficiencies plaguing Ghana’s energy sector inefficiencies that are costing the economy an estimated 2% of GDP annually. This figure represents nearly...