{"id":40457,"date":"2026-01-23T06:43:21","date_gmt":"2026-01-23T06:43:21","guid":{"rendered":"https:\/\/www.europesays.com\/africa\/40457\/"},"modified":"2026-01-23T06:43:21","modified_gmt":"2026-01-23T06:43:21","slug":"ghana-clears-1-47-billion-in-energy-debts-finance-ministry-says","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/africa\/40457\/","title":{"rendered":"Ghana clears $1.47 billion in energy debts, finance ministry says"},"content":{"rendered":"

ACCRA, Jan 12 (Reuters) – 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 on Monday.<\/p>\n

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<\/a> to reduce the $2.5 billion owed to independent power producers and gas suppliers.<\/p>\n

Sign up here.<\/a><\/p>\n

“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

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

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

An additional $480 million was paid to Italian energy company ENI (ENI.MI), opens new tab<\/a> and commodities trader Vitol for outstanding gas invoices related to electricity generation through the Sankofa Gas Project, the ministry said.<\/p>\n

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

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

The government has also renegotiated all agreements with independent power producers and is working with Tullow Oil (TLW.L), opens new tab<\/a> and Jubilee Field partners on a payment roadmap, the ministry said.<\/p>\n

Ghana is seeking to boost domestic gas production and reduce its reliance on expensive liquid fuels.<\/p>\n

Reporting by Emmanuel Bruce; Additional reporting by Christian Akorlie; Editing by Anait Miridzhanian<\/p>\n

Our Standards: The Thomson Reuters Trust Principles., opens new tab<\/a><\/p>\n

Purchase Licensing Rights<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"ACCRA, Jan 12 (Reuters) – Ghana’s government paid $1.47 billion in 2025 to clear legacy energy sector debts,…\n","protected":false},"author":2,"featured_media":40458,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[28],"tags":[488,2096,4590,685,3150,686,687,2844,6608,6991,1762,1597,16140,688,23944,1775,715,495,1586,9525,23945,23946,491,493,1592,1144,1598,1593,1594,1397,1771,7672,1768,714,3151,2070,1395,690,691,9471,79,694,13761,3487,1589,3396,20985,1595,1596,1765,695,1777,1766,6606,1778,19113,19114,3155,1761,20990,3149,4016,19109,3148,9472,23948,5395,1770,2836,2835,1590,23947,2072,3161,2741,3488,1396],"class_list":["post-40457","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ghana","tag-afr","tag-asia","tag-asxpac","tag-bact","tag-bisv","tag-biz","tag-cdm","tag-ceeu","tag-ch","tag-ci","tag-cmpny","tag-com","tag-corpd","tag-dbt","tag-dbtr","tag-destousnrg","tag-destozabsm","tag-destozatpm","tag-eco","tag-eleu","tag-elut","tag-elut1","tag-emea","tag-emrg","tag-ener","tag-energy","tag-enff","tag-eng","tag-enr","tag-europ","tag-expro","tag-expro1","tag-ezc","tag-fin","tag-fins","tag-gasu","tag-gb","tag-gen","tag-gfin","tag-gh","tag-ghana","tag-intag","tag-it","tag-loa","tag-mce","tag-meast","tag-ngs","tag-nrg","tag-oilg","tag-oili","tag-pol","tag-privt","tag-publ","tag-pwr","tag-pxp","tag-refi","tag-refi1","tag-regs","tag-repiexploration-production","tag-repigas","tag-repigovernance","tag-repigrid-infrastructure","tag-repirefining","tag-rsbiregulatory-oversight","tag-rulesghana","tag-seeu","tag-swasia","tag-topicenergy-oil-gas","tag-topicenergy-power","tag-topicenergy-transition","tag-topicmarkets-commodities-energy","tag-tr","tag-util","tag-utlreg","tag-wafr","tag-wbnk","tag-weu"],"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts\/40457","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=40457"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts\/40457\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/media\/40458"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/media?parent=40457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/categories?post=40457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/tags?post=40457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}