Prez Mahama: We Have Paid Down Most Debt Owed to Independent Power Producers
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President John Mahama says government has made significant progress in settling outstanding debts owed to Independent Power Producers (IPPs), describing the move as a major step toward stabilising Ghana's energy sector.
The President said the huge debt owed to power-producing companies had the potential to completely collapse the energy sector, but added that government's efforts to reduce the arrears have placed the sector in a much better position.
“I am pleased to report we are in a much better place today. We have paid down most of the debt we owe to the Independent Power Producers,” President Mahama stated.
He said addressing the debt challenge is critical to ensuring reliable power supply and strengthening confidence among stakeholders in Ghana's energy sector.
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