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Ghana’s power sector reforms target financial stability; government moves to clear IPP payment gaps
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MyJoyOnline
Richard Gyan-MensahThe government says ongoing reforms in Ghana’s energy sector are aimed at improving financial sustainability, reducing costs and preventing a return to the accumulation of large outstanding debts owed to Independent Power Producers (IPPs).
The Deputy Energy Minister, Richard Gyan-Mensah, says the sector has recorded significant improvements despite inheriting challenges, including high IPP debts and system inefficiencies.
Meanwhile, the Chief Executive Officer of the Volta River Authority (VRA), Edward Obeng Kenzo, emphasised the importance of reliable and affordable electricity in supporting Ghana’s economic development.
“The bedrock now of the economy is reliable and affordable electricity power to power the mining industry as well as small and medium [enterprises],” Mr Obeng Kenzo said.
The remarks come as stakeholders continue to push for a more resilient and financially sustainable energy sector capable of supporting Ghana’s broader economic transformation agenda.