Finance Ministry submits bill to Parliament to end sole-sourcing of power contracts
Finance Minister Dr Cassiel Ato Forson made the announcement on April 23 2025, during a session on the Ghana Energy Compact under Mission 300, organised by the World Bank. He said the proposed regulation is aimed at improving transparency in power procurement and securing better value for money.“We have submitted the LI to Parliament to make competitive procurement of power plants the standard approach,” Dr Forson said. “If we are serious about fixing the deep-rooted problems in the energy sector, this is a necessary step.” Dr Forson described the energy sector as the country’s most pressing economic challenge, revealing a current financial shortfall of about US$2 billion.He attributed much of the gap to inefficiencies across the energy value chain, particularly at the Electricity Company of Ghana (ECG).“ECG alone could reduce the shortfall by half if it addressed its internal challenges,” […]
