APA – Accra (Ghana)
The report that consultations on Ghana’s much-anticipated energy transition and in¬vestment plan took place in Accra this week as diverse stakeholders from the government, the private sector, youth and civil-society organisations offered feedback on the plan ahead of its launch is one of the leading stories in the Ghanaian press on Monday.
The Ghanaian Times reports that consultations on Ghana’s much-anticipated energy transition and in¬vestment plan took place in Accra this week as diverse stakeholders from the government, the private sector, youth and civil-society organisations offered feedback on the plan ahead of its launch.
The energy transition and investment plan is expected to serve as the government’s main roadmap for achieving universal energy access and net-zero carbon emissions, as expressed under the country’s current Energy Transi¬tion Framework and Nationally Determined Contributions while fostering economic growth and protecting jobs.
Ghana has set goals to diver¬sify its energy portfolio, increase the role of renewables and reduce energy intensity. All of these will need to be done in parallel, and the upcoming energy transition and investment plan provides a detailed view of what is needed in terms of technical assistance and investment across key sectors.
A statement issued by the or¬ganisers after the meeting in Accra said by mapping out these needs, the plan would serve as the main tool for the government to engage the international community and investors for support.
The Government of Ghana is developing the plan with technical support from Sustainable Energy for All (SEforALL).
President NanaAkufo-Addo and Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All and Co-Chair of UN-Energy, met in Accra to discuss the plan’s findings and recommendations, ensuring it was backed by the highest levels of government.
“Ghana is committed to a clean, equitable energy transition that harnesses the full potential of renewable sources and energy ef¬ficiency. However, ambition alone will not transform our energy sys¬tems, which is why we embarked on creating an energy transition and investment plan that details what is needed to reach our goals. I look forward to working with international partners to realise the many opportunities presented in this plan,” President Akufo-Addo said.
Ms Ogunbiyi also participated in an inter-ministerial committee meeting, where she briefed minis¬ters on how the plan was designed to support the work of various ministries, including environment, transportation, industry, and others.
The newspaper says that the International Monetary Fund (IMF) has said the loss Bank of Ghana (BoG) incurred in 2022 is as a result of the Domestic Debt Exchange Programme (DDEP) implemented by the government.
It said the loss BoG suffered in 2022 contributed to reducing the net equity of the Central Bank to a negative value.
The IMF, which disclosed this in its frequently asked questions on the Ghana IMF programme posted on its website, further said BoG absorbing part of government debt was to reduce the burden the DDEP placed on government debt holders.
“The BoG participated in the DDEP to share some of the burden the DDEP places on gov¬ernment debt holders, along with banks, other financial institutions, pension funds and individuals,” the IMF said in the answer to the question “why did the BoG incur losses from the authorities’ domestic debt exchange and what are their implications.”
It said the DDEP was a key el¬ement of plans by the government to restore macroeconomic stability and public debt sustainability.
The 2022 annual results and financial statement issued by the BoG indicated that the Central Bank recorded a loss of GH¢60 billion.
The Minority in Parliament has accused the BoG of mismanage¬ment which has resulted to the loss of the Central Bank and asked the Governor, Dr Ernest Addison and his deputies to resign.
The IMF said the negative equity position did not prevent the BoG from fulfilling its policy mandates and ensuring inflation gradually returns toward its 8 per cent target.
The Graphic reports that the telecommunications giant, MTN Ghana, is on course with the investment of $1 billion to expand and improve its network by 2025.
This is part of its broader plans to maintain leadership in the industry.
The Chief Executive Officer (CEO) of the company, Selorm Adadevoh, disclosed this at the 2023 Media and Stakeholder Forum, organised by MTN Ghana in Ho last week.
The event was attended by stakeholders in the regional capital, including media practitioners and representatives of some security agencies.
It was aimed at bringing together the media and other relevant stakeholders to share ideas and foster collaboration between the company and the media.
Mr Adadevoh said MTN Ghana’s ambition was to build the longest and most valuable platforms to drive the industry leading connectivity operations and create an accelerated portfolio transformation.
He thus stressed that the group would not be deterred in any way from that plan by the current economic challenges facing the country because the future for the scheme was very bright.
“Our strategy is anchored in building the largest and most valuable platform business with a clear focus on Africa,” he added.
The CEO maintained that MTN Ghana remained a significant contributor to the country’s revenue mobilisation, and said in 2022, it contributed GH¢4 billion of which GH¢3.7 billion was from direct and indirect taxes.
He said MTN Ghana contributed GH¢749.8million and GH¢1.3 billion in the form of Valued Added Tax, levies and duties; and GH¢539 million of withholding taxes.
The newspaper says that a lecturer of Governance Studies at the Evangelical Presbyterian University College (EPUC) in Ho, Dr Harrison Kofi Belley, has called on the Economic Community of West African States (ECOWAS) to use proactive preventive diplomacy to address the prevailing political situation in Niger.
In an interview with Graphic Online in Ho on Sunday (Aug 13), he said that the proposed military intervention by ECOWAS was likely to fuel the crisis in that country.
Dr Belley cited the growing support the military junta in Niger was enjoying from the masses and said neutral and sustained results-oriented strategic conflict management measures were required to deal with the state of affairs in Niger, and not military intervention.
The lecturer also called for the strengthening of the capacity of African states to settle electoral disputes at national, regional and continental levels through the enactment of laws and setting up of mechanisms for independent adjudication of such disputes to ensure political stability.
Dr Belley further called for a halt to tenure extensions by political leaders, and said the protocol of the Community Court of Justice of ECOWAS should be modified to allow for judicial intervention in all electoral matters.
“ECOWAS must muster the political will to hold member states accountable to their treaty obligations, in addition to combating corruption in public life to build confidence in state institutions and create the conditions for instability,” he added.
The lecturer further highlighted the need for ECOWAS to find ways of building and strengthening constitutional democratic norms and economies to eradicate poverty among the populace to ensure stability.
GIK/APA
Ghanaian press zooms in on Ghana’s energy transition plan, others
