Day 3 - 14.15 - Country Spotlight – Republic of Ghana

Moderator: Andrew M. Herscowitz, Chief Development Officer, DFC

Speakers:

• Emmanuel Antwi-Darkwa, Chief Executive, Volta River Authority (VRA), Republic of Ghana
• Oscar Amonoo-Neizer, Executive Secretary, Energy Commission, Republic of Ghana
• William Amuna, Technical Controller, Millennium Development Authority (MiDA), Republic of Ghana
• Ishmael Ackah, Exec Secretary, Public Utilities Regulatory Commission (PURC)  

• Ebo Quagrainie, Chairman, Public Utilities Regulatory Commission (PURC), Republic of Ghana 

• Samuel Dubik Mahama, MD, Electricity Company of Ghana (ECG)

Attention turned to Ghana in the afternoon of day three as the main theatre hosted a well-attended Country Spotlight session.

The forum was moderated by DFC’s Andrew Herscowitz, who picked up a prestigious aef Lifetime Achievement Award earlier in the week. Joining him to discuss the latest trends and developments shaping the Ghanaian energy landscape were Oscar Amonoo-Neizer, Executive Secretary of Ghana’s Energy Commission, Samuel Dubik Mahama of the Electricity Company of Ghana (ECG), and Ishmael Ackah, Executive Secretary of the Public Utilities Regulatory Commission (PURC).

The spotlight began with some scene setting by the chair, who explained that Ghana recently went through a debt renegotiation with the IMF, restricting the flexibility the country has to invest in its energy landscape by taking on sovereign debt.

That landscape, however, is already very expansive, with peak demand representing around 3,600 MW, leaving 1,000 MW of surplus generation capacity. Currently, the country exports east to Togo and Benin, west to Cote d’Ivoire and north to Burkina Faso. And despite the current restrictive environment, investment from the US into several large power stations and substations, including in the capital Accra, provides cause for some cautious optimism.

“We’re almost at a 90% access to electricity rate, and the more remote areas represent opportunities for remote grids,” commented Ishmael Ackah.

“Electric vehicles are another interesting avenue for Ghana as well,” added Oscar Amonoo-Neizer. “We have developed standards for EV charging stations which we are just about to put into legislation… this is an opportunity for investors to come into Ghana and participate in the e-mobility sector.”

Other key issues that were highlighted included how Ghana can compete with other nations offering guarantees on investments – here, it was discussed how the country offered sovereign guarantees in the past with limited success, with panellists also asked about how fiscal certainty can be reinstated into the industry.