‘No honeymoon for Mahama as Ghana faces energy and economic turmoil’, says Ben Boakye

Executive Director of the Africa Centre for Energy Policy (ACEP), Benjamin Boakye has warned that the incoming Mahama administration will not have the luxury of a “honeymoon” due to the pressing challenges confronting the country, particularly in the energy sector.

“The energy situation demands a careful, surgical examination to ensure you hit the ground running on January 7,” Boakye stated in his open letter to President-elect John Mahama.

Highlighting the scale of the issues, he pointed to over GH¢50 billion in annual waste in the energy sector alone, which he said undermines public trust and economic stability.

He described the systemic failures in the energy sector as a microcosm of broader governance issues, warning that inefficiencies in state agencies, declining investor confidence in the upstream oil and gas sector, and bloated administrative structures demand immediate attention.

“This message is not meant to be lengthy, but to state that you would not have the luxury of a ‘honeymoon’ in this situation,” Ben Boakye cautioned.

He stressed that the incoming government must prioritize transparency, calling for the transition team to disclose the total outstanding debt in the energy sector before assuming office.

Ben Boakye also highlighted the importance of swiftly addressing inefficiencies in the downstream petroleum sector and restoring trust among investors to halt the decline in the upstream sector.

“We can attract a minimum of $2 billion in investments by 2025, but only with swift, decisive action,” he said.

The challenges extend beyond energy, encompassing a strained economy and heightened public expectations following Mahama’s landslide victory.

Ben Boakye expressed hope that constructive policy ideas from the public domain would be embraced to tackle these challenges head-on.