The Deputy Minister for Finance, Thomas Nyarko Ampem, recently shared some important news about Ghana's energy plans. He believes that getting businesses involved is super important for helping Ghana reach its goal of providing electricity to everyone by 2030.
At a special workshop called the Mission 300 Ghana Compact Review, he spoke on behalf of the Minister for Finance, Cassiel Ato Forson. The Deputy Minister highlighted that the government is serious about managing money wisely while also looking for new and smart ways to fund energy projects.
“Projects under Mission 300 need to be financially smart and fit within Ghana’s international agreements,” said Hon. Nyarko Ampem. He explained that they want to create plans that attract funding from different sources, including private businesses, and use creative financing methods like public-private partnerships.
The workshop gathered people from the energy sector, development partners, and banks to discuss how Ghana is doing with its energy goals and how to move forward.
The Deputy Minister mentioned that the government knows expanding energy services can be expensive, and they want to make sure they don’t put the country in debt. He said that energy projects should help the economy grow without causing financial problems.
“Our goal is to make sure energy projects help the economy without putting too much pressure on the government’s budget,” he explained.
The Mission 300 initiative aims to bring reliable and affordable electricity to communities that need it most. Hon. Nyarko Ampem emphasized that it’s important to make energy investments appealing to both local and international investors.
“We need to encourage businesses to join in by sharing risks to protect public funds,” he said. “This is about more than just money; it’s about creating a system that helps everyone while keeping our finances healthy.”
The Deputy Minister shared four important financial goals that will guide Ghana’s energy plans:
1. **Maximize Funding**: Use grants and climate finance to lower costs.
2. **Encourage Business Involvement**: Create safer investment options for businesses.
3. **Focus on Renewable Energy**: Invest in clean and affordable energy solutions.
4. **Improve Financial Management**: Make sure everything is transparent and well-managed.
“These goals will be the foundation of our financial plans under Mission 300,” he noted. “We need to move away from only relying on government money and see businesses as partners in our development.”
The Deputy Minister assured everyone that the Ministry of Finance will keep working closely with the Ministry of Energy and Green Transition, along with other partners, to create a friendly environment for energy investments.
“We need to align our financial policies and incentives to build trust with investors and achieve results,” he said. “Together, we can unlock the potential of universal energy access while keeping Ghana’s finances strong and ready for growth.”
In conclusion, the Deputy Minister encouraged everyone involved to focus on practical and responsible solutions. He called the workshop an important step in Ghana’s journey toward a sustainable energy future.
The Mission 300 Ghana Compact is part of Ghana’s commitment to the United Nations’ Sustainable Energy for All initiative. As the country works to close the energy access gap, the push for more collaboration with businesses marks an exciting new chapter in Ghana’s energy journey.