The President of the Association of Ghana Industries (AGI), Dr. Humphrey Ayim Darke, has called for an urgent and comprehensive strategy to stabilise Ghana’s energy sector and address the escalating debt crisis involving Independent Power Producers (IPPs).
Speaking on Joy News’ PM Express Business Edition on Thursday, November 28, Dr. Darke highlighted the immense pressure businesses are facing due to uncertainties in the energy sector.
“There is a pressing need for a clear and actionable roadmap to ensure power stability,” he stressed.
He described the IPP debt crisis as a “ticking time bomb,” warning that if left unresolved, it could severely disrupt industrial operations and destabilise the broader economy.
Dr. Elikplim Kwabla Apetorgbor, CEO of the IPPs, has also raised concerns about the situation, revealing that three power plants are at risk of shutting down due to outstanding debts. The government, he noted, has failed to settle the $259 million owed by the Electricity Company of Ghana (ECG).
In an interview with Joy FM last week, Dr. Apetorgbor cautioned that if the debts remain unpaid, the affected power plants would cease operations as early as next week.
As Ghana approaches the December 7 presidential election, Dr. Darke has urged candidates to prioritise energy sector reform in their agendas.
“The erratic power supply, combined with the looming threat of IPP shutdowns, directly impacts industrial productivity and erodes investor confidence,” he said.
He warned that the crisis poses a significant risk to businesses and could undermine Ghana’s macroeconomic stability.
“The instability caused by unresolved IPP issues spills over into the broader business environment,” Dr. Darke noted. “The government must act immediately to settle these debts and ensure a stable, reliable energy supply.”
He also urged the next administration to adopt a forward-looking approach to energy sector management.
“Addressing the current crisis is not enough,” he explained. “We must consider the long-term implications of these debts on our economy and implement measures to prevent such situations from recurring in the future.”
Source: TheDotNews