Trending 
Ghana has paid a total of US$1.47 billion in 2025 to clear long-standing debts in its energy sector and restore a key World Bank guarantee, the Ministry of Finance said on Monday.
The ministry, in a statement, said the government had fully repaid US$597.15 million, including interest, drawn under the World Bank Partial Risk Guarantee (PRG).
The facility had been exhausted in previous years, and its restoration is expected to improve investor confidence in the country’s power sector.
Finance Minister Cassiel Ato Forson said the sector was in a fragile condition when John Dramani Mahama assumed office in January 2025, after years of unpaid gas supply obligations.
“When President Mahama assumed office in January 2025, the energy sector had been pushed to the brink by years of persistent non-payment for gas supplied to the power sector from the Offshore Cape Three Points (OCTP) field,” Forson said in a statement posted on X.
“As a result, the World Bank Partial Risk Guarantee of US$500 million had been completely depleted under the previous administration.”
The ministry also said the government had settled outstanding gas supply invoices worth US$480 million owed to ENI and Vitol for electricity generation from the Offshore Cape Three Points (OCTP) field.
In addition, Ghana paid about US$393 million in legacy debts owed to independent power producers (IPPs), a move the ministry said had further stabilised the sector.
“The Government of Ghana assures the general public, industry stakeholders, and international partners that the era of uncontrolled energy sector debt accumulation is over,” Forson said.
Beyond clearing inherited arrears, the ministry said the government has largely kept up with current payments to IPPs in 2025 through disciplined implementation of the Cash Waterfall Mechanism under the Ministry of Energy.
