The Deputy Minister for Finance, Thomas Nyarko Ampem, has underscored the critical role of the private sector in driving Ghana’s energy transformation and achieving universal access to electricity by 2030.

Speaking on behalf of finance minister Dr Cassiel Ato Forson at the Mission 300 Ghana Compact Review Workshop, the Deputy Minister reiterated the government’s commitment to fiscal discipline while championing innovative and sustainable financing models to boost energy access.

“Projects under Mission 300 must be financially viable and structured within Ghana’s international commitments,” Nyarko Ampem said.

“We aim to attract concessional finance, leverage private sector capital, and adopt blended finance and public-private partnerships.”

The workshop brought together key stakeholders from the energy sector, development partners, and financial institutions to assess Ghana’s progress under the National Energy Compact and outline a roadmap for energy expansion.

Addressing fiscal concerns, the Deputy Minister stressed that all energy projects must align with Ghana’s broader economic strategy to protect debt sustainability. “Energy investments must drive economic growth without increasing contingent liabilities,” he noted.

Mission 300 seeks to deliver reliable and affordable electricity to underserved communities, in line with Ghana’s climate resilience and sustainable development goals.

Nyarko Ampem highlighted that achieving this vision depends on making energy investments bankable and attractive to both domestic and foreign investors.

“We must foster private sector participation through risk-sharing frameworks that safeguard public finances,” he emphasized. “This is about building a viable growth ecosystem that benefits our citizens while maintaining fiscal integrity.”

To guide this transition, the Deputy Minister outlined four financial priorities:

Maximizing concessional and climate finance to reduce capital costs.

De-risking investments to boost private sector participation.

Focusing on scalable, cost-effective renewable energy solutions.

Enhancing financial governance and transparency.

“These pillars will anchor our financial stewardship under Mission 300,” he said. “We must reduce reliance on state funding and treat the private sector as a true partner in development.”

He assured participants of continued collaboration between the Ministry of Finance, the Ministry of Energy and Green Transition (MoEnGT), development partners, and regulatory bodies to foster a robust environment for sustainable energy investment.

“We must harmonize fiscal policy with investment incentives to build investor confidence and deliver real impact,” he said. “Together, we can unlock the economic potential of universal energy access while safeguarding Ghana’s fiscal health.”

In his closing remarks, Nyarko Ampem urged stakeholders to adopt pragmatic and fiscally responsible strategies, calling the workshop a pivotal step toward building a resilient, inclusive energy economy.

The Mission 300 Ghana Compact is a key component of Ghana’s commitment under the United Nations’ Sustainable Energy for All (SEforALL) initiative, forming a central pillar of the country’s energy and climate agenda.