Ghana: Reliable Power Supply Key To Ghana’s 24-Hour Economy Success

The Executive Director of Energy News Africa Limited, Michael Creg Afful, emphasized the urgent need for reliable and sustainable energy infrastructure as Ghana considers implementing a 24-Hour Economy and Accelerated Export Policy.

He made these remarks at the 5th Anniversary Public Lecture and Forum of Energy News Africa Limited held in Accra.

The Need for Reliable Energy Infrastructure

Reflecting on the theme “24-Hour Economy: Can Ghana’s current power situation support this policy?”, Mr. Afful highlighted the importance of energy availability in driving national development.

“We asked ourselves what energy-related issues could spark national dialogue. Then we realized that the proposed 24-hour economy and Accelerated Export Development Program are heavily dependent on energy,” he said.

Current Energy Situation

Mr. Afful raised critical questions about Ghana’s current energy situation, citing the country’s installed energy generation capacity of 5,260 megawatts against a peak demand of about 3,952 megawatts as of December 2024.

“On paper, it looks like we have enough capacity, but the real question is reliability. Can we ensure uninterrupted power so industries can operate at night? Can transportation systems run from 6 a.m. to 6 a.m. the next day?” he questioned.

Infrastructure Needs

Mr. Afful stressed that unless these infrastructure needs are met, the 24-hour economy will struggle to take off. Consistent power outages, such as load-shedding, would render the policy ineffective and force businesses to rely on costly generators, which is unsustainable.

Success Factors

“The success of a 24-hour economy hinges on three things—reliable power supply, reliable fuel supply, and financial investment into energy infrastructure,” Mr. Afful said.

He welcomed the government’s announcement to invest in the energy sector but called for transparency and urgency.

Call to Action

Mr. Afful concluded by urging the next government to prioritize solving the financial challenges crippling the energy sector. “If the liquidity situation is resolved, all other things will follow. That’s my advice,” he stated.

Source:https://energynewsafrica.com