President John Dramani Mahama has announced encouraging headway in clearing the massive $1.7 billion debt the government inherited from previous Independent Power Producers (IPPs).
The move is part of a broader effort to stabilise Ghana’s energy sector, which has long been plagued by unpaid bills, frequent power cuts and mounting financial pressure on electricity producers.Speaking about the development, the President indicated that negotiations and payments are advancing steadily, bringing much-needed relief to both the power companies and the national grid.
Energy experts say settling this long-standing debt will help restore confidence in the sector, encourage reliable electricity supply and prevent further disruptions that have affected homes and businesses across the country.
For many Ghanaians who have endured years of unstable power, the announcement brings hope that the worst of the energy crisis could soon be behind them. The government has described the debt clearance as a critical step toward a more stable and self-sustaining power system.
With the process now gaining momentum, attention is turning to how quickly the remaining payments can be completed and what this means for electricity tariffs and reliability in the coming months.President Mahama’s update is being welcomed as a positive signal that the administration is tackling one of the biggest financial headaches left behind in the energy sector.