- Energy minister has bemoaned the high indebtedness in the sector
- Boakye Agyarko reveals that the ministry owes banks and fuel suppliers in excess of 800 million dollars
All seems to be highly difficult for the power minister, Boakye Agyarko in the wake of Ghana’s looming energy crisis.
The Power minister has since his nomination been faced with stark challenges confronting the sector top of which has been Ghana’s suffocating indebtedness to the Nigeria Gas (N Gas) and the fluctuation in energy supply from the West African Gas pipeline.
In an honest presentation at the 2017 Ghana Energy Summit, Boakye Agyarko remarked that one of the major challenges faced the sector has to do with nothing but just the suffocating debt in the sector – a development he reveals makes investing in the energy sector a strange reality.
YEN.com.gh is gathering that Ghana’s energy sector currently owes in excess of 800 million dollars to banks and fuel suppliers alone as at 2016 – a development which makes securing loans from these institutions very difficult.
Watch Boakye Agyarko’s speech below:
So far, Ghana has experienced two major nationwide power outages in 2017 alone since the NPP administration came to office in January – a scary development which poses both security and investment challenges to the country.
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