Ghana, Africa’s largest gold producer, is modernizing its power grid to ensure reliable power supplies to mining companies as part of a broader strategy to maximize growth across the mining sector. In November 2025, Ghana announced a GH¢22 billion energy sector reform program aimed at clearing legacy debt, stabilizing long-term power contracts, and strengthening linkages between the energy and gold industries.
Of the total funding, GH¢15.2 billion will help address accumulated payment shortfalls in the energy sector, while GH¢4.8 billion will be used to resolve legacy debt owed to independent power producers, helping to ensure uninterrupted supply to the mining industry and the wider economy. A further GH¢2 billion will fund the first phase of the Rural Power Acceleration and Urban Intensification Initiative, which is expected to benefit mining projects, many of which are located in remote areas. The reform package also supports Ghana’s gas-to-power strategy, which includes a planned 1,200MW thermal power plant scheduled for construction in 2026. The facility, which uses domestic gas from the Cape Three Points offshore field and the Ghana Gas Processing Plant, is expected to improve energy affordability and increase profitability for mining companies. In parallel, the state-owned Ghana Grid Company (GRIDCo), in partnership with Turkey’s AKSA Enerji, is finalizing the integration of the 141MW AKSA Anwomaso power plant into the national grid to further expand electricity supply.
Ghana is also prioritizing the upgrade of its electricity transmission infrastructure to ensure the resilience of electricity supply from generation hubs to mining areas. The country is installing around 200 new transformers in major urban centers to boost electricity transmission capacity across the country. At the regional level, GRIDCo and Ivory Coast’s state-owned power company CI-ENERGIES have launched a 330 kV double-circuit interconnection reinforcement project in mid-2025. The World Bank-funded project includes a new high-capacity transmission line and substation linking Dankwa to Elbo, Ghana, and extending to Bingerville, Ivory Coast. Once completed, the project is expected to allow Ghana to tap additional electricity from the West African power pool to power its burgeoning mining sector.
With Ghana’s mining sector attracting $1.2 billion in foreign direct investment in 2024, continued efforts to ensure reliable power supplies for industrial growth represent an opportunity to further strengthen investor confidence and accelerate mining expansion.
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