Private Sector Holds The Key To Ghana’s Energy Future — Deputy Finance Minister

Thomas Nyarko Ampem, the deputy minister of finance, has underlined that the private sector’s active participation is crucial to releasing Ghana’s energy potential and reaching the nation’s 2030 universal access to power target.

At the Mission 300 Ghana Compact Review Workshop, the Deputy Minister spoke on behalf of the Minister for Finance, Cassiel Ato Forson, and emphasized the government’s dedication to fiscal restraint while promoting creative and sustainable funding methods to promote energy access.

“Projects under Mission 300 must be financially viable and structured within the framework of Ghana’s existing international commitments. We are committed to designing initiatives that attract concessional finance, leverage private sector capital, and utilize innovative financing models such as blended finance and public-private partnerships”, Nyarko Ampem stated.

In order to assess Ghana’s accomplishments under the National Energy Compact and map out a practical course for the future, the workshop brought together financial institutions, development partners, and energy sector stakeholders.

The Deputy Minister asserts that the government is committed to pursuing policies that prevent the nation’s contingent liabilities from rising and is fully aware of the financial ramifications of developing energy infrastructure. He clarified that in order to prevent endangering the sustainability of debt, Ghana’s energy projects need to be in line with more general economic and fiscal concerns.

“Our approach must ensure that energy projects contribute positively to economic growth without imposing unsustainable financial burdens on the state,” he said.

The Mission 300 initiative aims to connect underserved communities to reliable and affordable electricity while advancing Ghana’s commitments to climate resilience and sustainable development. Central to this mission, Hon. Nyarko Ampem said, is ensuring that energy investments are bankable and attractive to investors, both domestic and international.

“We must promote private sector participation through risk-sharing frameworks that protect public finances,” he emphasized. “This is not just about investment; it’s about creating a viable ecosystem for growth that benefits our citizens while ensuring fiscal integrity.”

The Deputy Minister went on to list four major financial priorities that will direct Ghana’s energy transition strategy. These include lowering the cost of capital by maximizing concessional and climate finance, encouraging private sector participation through de-risked investment models, concentrating on scalable, affordable renewable energy solutions, and enhancing financial governance and transparency.

“These strategic pillars will form the bedrock of our financial stewardship under Mission 300,” he noted. “We must move beyond reliance on state funding and embrace the private sector as a true partner in development.”

He gave participants his word that in order to foster an atmosphere that encourages investment in sustainable energy, the Ministry of Finance would keep up its strong collaboration with the Ministry of Energy and Green Transition (MoEnGT), as well as with development partners and regulatory bodies.

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The Deputy Minister urged all stakeholders to approach the deliberations with “a commitment to pragmatic and fiscally responsible solutions,” calling the workshop a crucial step in Ghana’s journey toward a sustainable and inclusive energy economy.

The Mission 300 Ghana Compact is part of the country’s broader commitment under the United Nations’ Sustainable Energy for All (SEforALL) initiative and forms a key pillar of Ghana’s energy and climate strategy.

As the nation seeks to bridge the energy access gap, the call for deeper private sector collaboration signals a new chapter in Ghana’s energy transition agenda.