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President Akufo-Addo Commissions 15MWP Kaleo Solar Power Plant
President Nana Addo Dankwa Akufo-Addo, on Wednesday, 24th April 2024, in a momentous ceremony held in Kaleo, officially inaugurated phase two of the Kaleo Solar Power Plant, marking another significant stride in Ghana’s renewable energy journey.
With a capacity of fifteen megawatts peak (15MWp), this addition underscores Ghana’s commitment to harnessing clean energy sources and building a sustainable future for generations to come.
Addressing a gathering of dignitaries, chiefs, and community members, President Akufo-Addo emphasized the importance of renewable energy in driving economic growth, mitigating climate change, and ensuring energy security for all citizens.
He praised the collective efforts of stakeholders, including the Chiefs and people of the Nadowli-Kaleo traditional area, the German Government, the Volta River Authority (VRA), and project contractors, for their invaluable contributions to the successful completion of the project.
The President highlighted the strategic significance of Kaleo as a hub for renewable energy development, citing its rich natural resources and potential to attract investment and spur innovation in the region.
He reiterated Government’s commitment to incentivizing green investments, promoting energy efficiency, and prioritizing the development of solar, wind, and hydroelectric power projects as key strategies for the nation’s energy sector growth.
Phase two of the Kaleo Solar Power Plant not only adds fifteen megawatts of clean energy to the national grid but also improves the quality of power supply in the Upper West Region. Furthermore, it is estimated to reduce national carbon emissions by nearly 8,917 tonnes, contributing to Ghana’s efforts to combat climate change and fulfill its international commitments. It will also promote practical studies in the development of solar power by the Technical Universities in the northern part of the country.
President Akufo-Addo reiterated Government’s commitment to invest continuously in the electricity transmission network, to enable the country to evacuate more renewable energy through the national grid to support the extension of electricity to all parts of the country.
“It is our intention to attain full electricity access by the end of this year, up from the current rate of eighty-eight-point-eight percent (88.8%),” he stated.
The President continued, “I expect that, with this project in this community, corporate social responsibility programmes for Kaleo and its environment will be enhanced through the provision of social amenities by the appropriate authorities, including VRA.”
President Akufo-Addo expressed optimism about Ghana’s energy future, emphasizing the importance of collaboration and collective action in achieving sustainable development goals. He urged all stakeholders to uphold effective maintenance management practices to ensure the longevity and efficiency of renewable energy infrastructure, reaffirming his government’s dedication to building a brighter, greener future for all Ghanaians.
“By investing in renewable energy infrastructure, we are securing a reliable source of electricity and creating new opportunities for economic growth and job creation. This plant will not only power homes and businesses, but also serve as a catalyst for development in the Upper West Region, attracting investment and spurring innovation,” he added.
The President told the gathering that the Government is implementing a series of policies and measures to incentivise green investments, foster a culture of energy efficiency, and prioritise the development of solar, wind, and hydroelectric power projects as key strategies for the growth of the energy sector in the country.
“The vision, however, is not only to be energy self-sufficient, but also to set the stage for Ghana to emerge as an eco-friendly country in the Region, inspiring neighbouring countries to follow suit in their pursuit of a greener, more energy-technology-centred future,” he added.
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GEXIM deepens relations with US EXIM Bank
A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.
The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.
The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.
Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).
Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.
The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
