Sanitise energy sector to attract investments
EXECUTIVE Vice-President, Energy and Infrastructure at Stanbic Bank Ghana, Sydney Nii Ayitey Tetteh, has called on stakeholders and policymakers in Ghana’s energy sector to prioritise the sanitation of the sector to attract the necessary investments.
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Speaking at the 13th Ghana Economic Forum, he said while there were finances available to support the sector, unlocking those funds required creating a more investor-friendly environment.
“No investor will put money in a sector with huge legacy debts. Initiatives such as the cash waterfall system that ensures that suppliers receive consistent payments have helped to improve the sector but there are still more things to be done to make the sector creditworthy.”
“While the potential for substantial investment in the sector exists, it is essential that the sector’s underlying health is addressed as a foundational step,” he stated.
External capital
He said a strong, stable and transparent sector was essential to attract external capital, adding that prematurely pursuing investment without first establishing a solid base was akin to building a house on shifting sands.
“Therefore, a comprehensive sanitisation process must be undertaken to rectify any structural or operational deficiencies,” he said.
The Ghana Economic Forum was started in 2012 to bring together captains of industry and thought leaders to discuss and debate key issues affecting the Ghanaian economy and offer solutions to enhance the country’s economic growth.
The event provides a platform that offers in-depth analysis, discussions and debate on key issues affecting the Ghanaian economy and suggests solutions to help achieve the country’s economic development agenda.
It is also a stage for participants to make recommendations aimed at consolidating gains and driving attention to under-served
economic imperatives.
The forum also provides opportunities for participants to interact with business experts from the public and private sectors, as well as the country’s top bankers and financial service providers. The 13th edition was held on the theme, ‘Unlocking Opportunities: Re-engineering Ghana’s Economic Model for Sustainable Development.’