The Deputy Minister for Finance in Ghana, Thomas Nyarko Ampem, has highlighted the critical role of private sector involvement in realizing the country’s energy potential and achieving universal electricity access by 2030. Representing the Minister for Finance, Cassiel Ato Forson, at the Mission 300 Ghana Compact Review Workshop, he emphasized the government’s commitment to fiscal discipline while advocating for innovative financing solutions to enhance energy access.
“Projects under Mission 300 must be financially viable and structured within the framework of Ghana’s existing international commitments,” stated Hon. Nyarko Ampem. He mentioned that initiatives should attract concessional finance, leverage private capital, and utilize blended finance and public-private partnerships.
The workshop gathered stakeholders from various sectors to assess Ghana’s progress under the National Energy Compact and plan future strategies. The Deputy Minister noted that expanding energy infrastructure must align with economic priorities to maintain debt sustainability. “Our approach must ensure that energy projects contribute positively to economic growth without imposing unsustainable financial burdens on the state,” he said.
Mission 300 aims to provide underserved communities with reliable electricity while advancing climate resilience and sustainable development goals. Central to this mission is ensuring investments are appealing to both domestic and international investors. “We must promote private sector participation through risk-sharing frameworks that protect public finances,” emphasized Nyarko Ampem.
He outlined four key financial priorities: maximizing concessional and climate finance; promoting private sector involvement through de-risked models; focusing on scalable renewable solutions; and strengthening financial governance. “These strategic pillars will form the bedrock of our financial stewardship under Mission 300,” he noted.
Nyarko Ampem assured participants of continued collaboration between the Ministry of Finance, Ministry of Energy and Green Transition (MoEnGT), development partners, and regulatory agencies to foster a conducive environment for sustainable investment. “We must harmonize fiscal policies and investment incentives to build investor confidence,” he said.
In his closing remarks, he urged stakeholders to commit to pragmatic solutions during deliberations, marking this workshop as a vital step toward a sustainable energy economy in Ghana. The Mission 300 Ghana Compact aligns with global initiatives like Sustainable Energy for All (SEforALL) as part of Ghana’s strategy for bridging its energy access gap.