Govt urged to harness country’s renewable energy sources to produce affordable power
The government must harness the country’s abundant renewable energy resources to provide reliable and affordable power for domestic and industrial consumption in order to boost the manufacturing sector, the Senior Energy Specialist for Ghana, Liberia and Sierra Leone at the World Bank, Maame Tabuah Ankoh, has said.
She said renewable energy sources such as solar and gas could provide cheaper energy to support the growth of the manufacturing sector.
Ms Ankoh made the remarks on Monday at the 2026 World Bank Western and Central Africa Youth Forum, held on the theme: ‘Youth Works, Africa Thrives.’
The forum, organised by the World Bank in collaboration with Ghana Youth Voices, brought together youth representatives from Ghana, Nigeria, Guinea, Niger, Senegal, Cameroon and the United States of America.
Ms Ankoh said high electricity costs continued to undermine the growth and competitiveness of businesses in Ghana while increasing production costs.
According to her, Ghana had one of the highest electricity tariffs in Africa.
She said Ghana had abundant gas and solar resources and, therefore, the potential to generate electricity at lower costs than it currently did.
Ms Ankoh said electricity remained one of the biggest operational expenses for manufacturing companies and industries, making it difficult for businesses to expand and compete effectively.
She said some policy decisions, including the procurement of expensive power-generation plants and the underutilisation of domestic gas resources, had contributed to the country’s high electricity tariffs.
According to her, energy was the lifeblood of the economy and affordable electricity was essential for businesses to reduce production costs, improve productivity and create employment opportunities.
Ms Ankoh noted that decisions being taken today in the energy sector would have long-term implications for businesses and consumers, stressing the need for greater public understanding of energy policies.
She said that if the government opted for expensive thermal power generation instead of more affordable renewable energy sources such as solar power, the additional costs would ultimately be passed on to businesses and consumers through higher electricity tariffs.
Ms Ankoh said that although the country had achieved about 89 per cent electricity access, affordability, reliability and sustainability remained significant challenges.
The Senior Agricultural Economist for Ghana and West Africa at the World Bank, Ashwini Sebastian, urged young people to pursue entrepreneurship and innovation rather than rely solely on government interventions, as Ghana’s economic growth continued to outpace job creation.
She said there was a widening gap between economic growth and employment opportunities for the country’s growing youth population.
According to Ms Sebastian, although Ghana had recorded an average annual economic growth rate of about six per cent over the past decade, only about 435,000 jobs had been created during the period.
She said the figure was inadequate compared with the estimated 3.7 million young people who had entered the labour force over the same period.
Ms Sebastian noted that waiting for the government alone to solve unemployment challenges would not yield the desired results.
BY KINGSLEY ASARE
Follow our WhatsApp Channel now! https://whatsapp.com/channel/0029VbAjG7g3gvWajUAEX12Q
