The business community says reliable and affordable energy will be crucial to sustaining the country’s industrialization drive as government advances plans for a 24-hour economy.
President of the Ghana Union of Traders Association (GUTA), Joseph Obeng, speaking on the sidelines of the Power Energy Ghana Expo and BuildExpo Ghana 2025, said high energy costs continue to pose a major challenge for manufacturers and traders seeking to expand their operations.
As part of it recommendations, GUTA is urging greater efforts to scale up the adoption of renewable energy, emphasizing the need to make clean energy sources more affordable and accessible to businesses.
“In our quest to industrialize as a nation, it is very important we have affordable energy sources otherwise it will be in vain because of competition with the rest of the world. It is very important for us to access affordable energy sources rather than the old and obsolete ones that produce energy at a higher cost,” he said.
Deputy Energy Minister, Richard Gyan-Mensah, speaking on behalf of the sector minister, outlined key initiatives being implemented to transform Ghana’s energy sector and enhance efficiency across the value chain.
“Here in Ghana, we recognise that energy is the backbone of industrialisation – every factory that opens, every business that expands, and every home that lights up is powered by the silent force of electricity and infrastructure.
“That is why Government continues to prioritise reforms, innovation, and private sector collaboration to build a more resilient, inclusive, and future-ready energy economy.
“The Ministry has embarked on major reforms across the entire energy value chain. These include IPP tariff rationalisation to ensure affordability while protecting investor confidence, competitive and transparent procurement frameworks for all new generation and infrastructure projects, strengthening the Cash Waterfall Mechanism to guarantee fair and predictable payments across the sector, accelerating renewable energy adoption including the localisation of solar assembly lines and battery storage solutions, digitalisation of sector operations – from data-driven planning to smart distribution systems and crucially, enhancing local content participation so that Ghanaian enterprises can become integral players in our green transition,” he added.
India’s High Commissioner to Ghana, Manish Gupta, also expressed his country’s commitment to strengthening bilateral cooperation with Ghana, particularly in key sectors such as energy, trade, and technology.
