The Government of Ghana settled a total of US$1.47bn in energy sector debts which it said posed "one of the gravest risks to Ghana’s financial stability" in 2025.
- •Ghana repaid US$597.15 million drawn from a US$500 million World Bank Partial Risk Guarantee that was used a safeguard after years of persistent non-payment for gas supplied to the power sector from the Offshore Cape Three Points (OCTP) field.
- •Between January and December 2025, Government also settled all outstanding gas invoices owed to ENI and Vitol for electricity generation to a tune of US$480mn.
- •In 2025 alone, Government paid approximately US$393 million in legacy Independent Power Producer (IPP) debts, and also renegotiated all IPP agreements.
"Government has also held constructive engagements with Tullow Oil and the Jubilee Field partners, agreeing on a comprehensive roadmap to guarantee full payment for all gas off-taken," Ghana's ministry of finance said in a statement on Monday.
The World Bank guarantee was designed to guarantee payments to the project partners, ENI and Vitol, in the event of payment shortfalls. The repayment now restores the facility fully, providing a much needed safeguard for the country's energy sector.
