\n President Mahama\u2019s administration, which took office in January 2025, inherited a power sector pushed to the brink by years of unpaid gas supplies from the Offshore Cape Three Points (OCTP) field.\n <\/p>\n
\n \u201cThe full repayment of $597.15 million under the World Bank Guarantee has restored the facility and reaffirmed Ghana\u2019s credibility as a reliable partner on the global stage,\u201d the government stated.\n <\/p>\n
\n In addition to restoring the guarantee, the administration cleared all outstanding invoices owed to the Sankofa partners ENI and Vitol, totalling approximately $480 million.\n <\/p>\n
\n \u201cPrudent financial management and adequate budgetary provisions ensure we can sustain timely payments going forward,\u201d officials said.\n <\/p>\n
\n These measures are designed to support consistent nationwide electricity generation while reducing reliance on costly liquid fuels.\n <\/p>\n
<\/p>\n
\n The government has also renegotiated all Independent Power Producer agreements, paying roughly $393 million in legacy debts during 2025. This move was part of a broader energy-sector reset aimed at securing better value for money for Ghanaian consumers and investors alike.\n <\/p>\n
\n According to the Ministry of Finance, the combined payments in 2025 reached $1.47 billion, representing a decisive effort to stabilise the energy sector.\n <\/p>\n
\n Industry analysts have welcomed the development, noting that clearing the backlog of debts is expected to bolster investor confidence, support industrial growth, and reduce operational risks across the energy sector.\n <\/p>\n
\n The Mahama administration emphasised that the era of uncontrolled energy sector debt accumulation is over, signalling a renewed commitment to fiscal discipline, energy reliability, and strategic engagement with both domestic and international partners.\n <\/p>\n","protected":false},"excerpt":{"rendered":"President Mahama\u2019s administration, which took office in January 2025, inherited a power sector pushed to the brink by…\n","protected":false},"author":2,"featured_media":18853,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[79],"class_list":{"0":"post-18852","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ghana","8":"tag-ghana"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts\/18852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/comments?post=18852"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts\/18852\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/media\/18853"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/media?parent=18852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/categories?post=18852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/tags?post=18852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}