Info@diaspoint.nl

The Government of Ghana says it has paid a total of $1.47 billion in 2025 to clear longstanding debts in the energy sector, a move it says has restored stability, strengthened investor confidence, and improved the country’s international credibility.

According to the Ministry of Finance, the payments included $597.15 million to fully reinstate a World Bank partial risk guarantee that had been depleted under the previous administration. The guarantee is considered critical to unlocking nearly $8 billion in private investment for the Offshore Cape Three Points field and the Sankofa Gas Project.

In addition, the government settled all outstanding gas supply invoices owed to energy partners ENI and Vitol, paying approximately $480 million, and cleared about $393 million in legacy debts owed to Independent Power Producers, including major suppliers such as Karpowership and Cenpower.

Officials said the comprehensive settlement, completed within President John Dramani Mahama’s first year in office, represents a decisive reset of the power sector after years of mounting arrears that threatened electricity reliability and investor confidence. The government added that new budgetary provisions and renegotiated agreements with upstream partners are designed to prevent future arrears and boost domestic gas production.