• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Ghana Faces Power Crisis as Karpowership Threatens Shutdown Over $379m Debt

7 months ago
in Business, Economy, Energy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
158
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Lead, Mercury Found in Turmeric, Tom Brown and Others – FDA Report

IFRIG Announces 4th Edition of Non-Interest Finance International Conference

Russia Finally Moves Forward on its Long-Awaited Nuclear Deal With East Africa’s Largest Economy

Ghana Faces Power Crisis as Karpowership Threatens Shutdown Over $379m Debt

Ghana is on the brink of a power crisis as Karpowership, the operator of a floating power plant at Aboadze, threatens to halt operations over an outstanding $379 million debt owed by the Electricity Company of Ghana (ECG).

The situation was disclosed during a meeting on Monday between the Minister of Energy and Green Transition, John Abdulai Jinapor, and officials from Karpowership.

In an appeal to the company, Mr. Jinapor urged for patience while the new administration works to settle the debt.

“We acknowledge the severity of the situation and are committed to finding a sustainable solution to address the financial obligations. We appeal to our partners to bear with us as we navigate these challenges,” the minister stated.

Economic Implications of a Potential Shutdown

Industry experts warn that if Karpowership follows through on its threat, Ghana could face widespread power shortages, severely impacting businesses, industries, and households.

The country’s energy sector is already under significant financial strain, with total debts surpassing $3 billion as of January 12, 2025.

The International Monetary Fund (IMF) has raised concerns about the sector’s financial health, cautioning that without urgent reforms, Ghana’s power industry risks collapse.

The IMF has recommended a series of interventions, including cost-cutting measures, improved revenue collection, and a restructuring of power agreements to ensure long-term sustainability.

With mounting financial pressure and potential disruptions to electricity supply, the government faces a crucial challenge in stabilizing the sector and avoiding a repeat of past power crises.

Tags: $379m DebtGhana Faces Power Crisis as Karpowership Threatens Shutdown Over $379m DebtKarpowershippower crisis

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Botswana Organises Surprise Diamond Auction to Raise Money

Zijin Becomes World’s No. 3 Miner After Reaching $100bn Valuation

Tullow Oil Exits Kenya With $120m Sale to Auron Energy

GSE Market Cap Hits New Record High of GHS 160bn as Indices Extend Gains

Cyber Security Authority Warns High School Graduates Over Indecent Social Media Posts

From Glory With One Race Win to Triumphing by a Single Point – The Most Dramatic Drivers’ Title Comebacks in F1 History

Trending

Editor's pick

Lead, Mercury Found in Turmeric, Tom Brown and Others – FDA Report

September 26, 2025

Lead, Mercury Found in Turmeric, Tom Brown and Others – FDA Report A National Summary Report on...

IFRIG Announces 4th Edition of Non-Interest Finance International Conference

September 26, 2025

Russia Finally Moves Forward on its Long-Awaited Nuclear Deal With East Africa’s Largest Economy

September 26, 2025

Botswana Organises Surprise Diamond Auction to Raise Money

September 26, 2025

Zijin Becomes World’s No. 3 Miner After Reaching $100bn Valuation

September 26, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.