Ghana has paid a total of $1.47 billion in 2025 to settle long standing energy sector debts and restore a key World Bank guarantee, according to a statement from the Ministry of Finance.
Finance Minister Cassiel Ato Forson said the government fully repaid $597.15 million, including interest, drawn under the World Bank Partial Risk Guarantee, which had been depleted in previous years. The repayment has reinstated the guarantee, widely seen as essential for rebuilding investor confidence in Ghana’s power sector.
In remarks shared on X, Forson said the energy sector was in a fragile condition when President John Dramani Mahama took office in January 2025, after years of unpaid gas supply bills.
He said persistent non payment for gas supplied from the Offshore Cape Three Points, OCTP, field had pushed the sector to the brink, leading to the exhaustion of the World Bank guarantee under the previous administration.
The government also settled $480 million in outstanding gas supply invoices owed to ENI and Vitol for electricity generation from the OCTP field.
Forson said the government was determined to prevent a repeat of past practices, assuring the public and international partners that the era of uncontrolled energy sector debt accumulation had ended.
In addition, around $393 million in legacy debts owed to independent power producers were cleared, further stabilising the sector.
The statement added that beyond clearing inherited arrears, the government has kept up with most current payments to independent power producers in 2025, supported by the disciplined use of the Cash Waterfall Mechanism overseen by the Ministry of Energy.