President John Dramani Mahama has highlighted the severe financial challenges facing Ghana’s energy sector.
Delivering the State of the Nation Address in Parliament in Accra on Thursday February 27, he revealed that the financing shortfall for the energy sector has risen significantly to approximately $2.2 billion or GHS34 billion for the year 2025.
“The energy sector faces serious financial challenges primarily due to collection and system losses, non-compliance with the cash waterfall mechanism, and legacy debts,” he stated.
President Mahama emphasised the urgent need for measures to reduce this shortfall to sustainable levels and ultimately eliminate it.
He further indicated that “The financial sector continues to struggle despite the reportedly spending of GHS29.9 billion on the financial sector cleanup exercise to date…In the next four years our debt servicing will amount to GHS280billion and this comprises of 150billion for domestic debt and 130 billion in external debt servicing.”
Source: Channel1news.com
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