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    E-cedi will not affect MoMo business – Bank of Ghana

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    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

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    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Farmers worried about possible unfair distribution of MoFA machines

    Coronation Insurance launches marine insurance e-portal for importers

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    Our cars to sell for cheaper soon- locally assembled automobile companies

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

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    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Coronation Insurance launches marine insurance e-portal for importers

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    Zenith Bank Ghana wins premium quality West African banking brand of the year 2021

    GIPC and GSE sign MoU to attract more investment into Ghana

    Appolonia City unveils its first commercial building; Adumuah Place

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    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

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    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

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    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

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Govt to clear all energy debts – Pres. Akufo-Addo

bycitibusinessnews
May 31, 2017
in Banking And Finance, Government, Local Economy, Oil And Gas, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

President Akufo-Addo has assured that government will clear all debts in the energy sector to bring back efficiency into the generation and distribution of electricity in the country.

Debts in the energy sector are currently at 2.4 billion dollars, as the Finance Ministry announces plans to raise a bond to settle the debt.

Speaking at the World Development Forum in Accra today, President Akufo-Addo disclosed that a comprehensive plan has been drawn to make the sector efficient to attract private investors.

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“My government has moved quickly to address the energy supply constraints by tackling the financial challenges of the sector as well as define a policy framework that will encourage private sector investment. We will very soon issue a 2.5 billion dollars energy sector bond to retire the legacy debt in the energy sector and create space for increase investment in the sector,” he said.

Touching on the ECG Private Sector Participation with the Millennium Challenge Corporation (MCC), President Akufo-Addo was optimistic the compact will provide an opportunity for private sector participation in the ECG to make it efficient.

“We have encouraged majority Ghanaian private sector participation in the Electricity Company of Ghana under the Millennium Challenge Account Compact with the United States government,” he said adding that the Ghanaian private investors will control the majority share.

President Akufo-Addo reiterated that government will now pursue renewable energy to create  clean source of power in the country.

This follows a directive from the Ministry of  Energy to cancel agreements with some  Independent Power Producers with Ghana.

–

By: Lawrence Segbefia/citibuinessnews.com/Ghana

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