Ghana's Big Move to Fix Its Energy Money Problems

In 2025, Ghana made a significant move to clean up its energy sector by paying off $1.47 billion in old energy debts. This substantial payment addressed a longstanding issue with the World Bank and repaid outstanding amounts owed to power companies.

Addressing Energy Challenges

Ghana has faced considerable energy challenges, including frequent blackouts due to unpaid bills. Last year, the president committed to reducing the $2.5 billion debt owed to power and gas companies.

A New Financial Approach

The finance ministry described this payment as the beginning of a more disciplined financial management approach in the energy sector. They ensured sufficient funds are allocated for future energy bills.

Key Payments

• $597 million to the World Bank: This resolved a specific agreement related to gas supplies, which was nearly depleted, hindering Ghana's international collaborations.
• $393 million to private power companies: This includes debts owed to companies from Turkey and other countries. These companies highlighted the importance of this payment, signaling Ghana's commitment to resolving its energy issues.

Future Goals

Ghana aims to increase the use of its own gas instead of relying on expensive fuels. This shift could lead to more affordable and reliable energy for the country.