Ghana’s President, Nana Addo Dankwa Akufo-Addo on Tuesday February 21, 2017, presented his first State of the Nation Address. He touched on all sectors of the Ghanaian economy including the power sector.
According to him, the power sector was heavily indebted by the erstwhile John Mahama administration. The President said he inherited a $2.4 billion debt from the previous administration, adding that about $800 million was also owed local banks in the country.
“We have inherited a heavily indebted energy sector, with the net debt reaching 2.4 billion US dollars as at December 2016. I have to point out the alarming fact that 800 million US dollars of this debt is owed to local banks, which threatens their stability and that of the whole financial sector. Indeed, the huge indebtedness of the energy sector constitutes the single major hurdle to Ghanaians enjoying reliable and affordable electricity supply,” he added.
Check below for an Infographic on what the President said about the power sector during the address.