Ghana has paid $1.47 billion to clear legacy debts in its energy sector, restoring confidence among lenders and power producers and easing a major constraint on electricity supply, the country’s finance ministry said on Monday.
The payments, made in 2025, were used to settle arrears owed to independent power producers, gas suppliers and the World Bank, whose partial risk guarantee had been depleted by years of unpaid obligations.
Ghana’s power sector has long struggled with mounting debts that contributed to frequent outages and discouraged new investment. Last year, President John Dramani Mahama pledged to cut the sector’s estimated $2.5 billion debt to power producers and gas suppliers.