Ghana’s Ministry of Finance is facing mounting criticism over delays in debt payments to Sunon Asogli Power Ghana Limited, as the power producer pushes back against recent statements made by Finance Minister Dr. Mohammed Amin Adam.
Days earlier, Dr. Adam criticized Sunon Asogli’s decision to halt operations at its 560-megawatt plant, accusing the company of acting in “bad faith” by shutting down due to an outstanding $259 million debt owed by the Electricity Company of Ghana (ECG).
Dr. Adam reportedly maintained that the Ministry had approved a $30 million payment to the IPP, a partial settlement Sunon Asogli now claims it has not received.
Responding to the Minister’s comments on Citi Business, Sunon Asogli asserted today that the Ministry’s promised payment remains unpaid and accused the Ministry of focusing on public image rather than action.
Dr. Elikplim Apetorgbor, Business Development Manager at Sunon Asogli, labeled the Ministry of Finance as an “official propaganda office,” suggesting that the ministry’s assurances lack substance and have worsened the financial strain on the energy sector.
Apetorgbor explained that the failure to follow through on commitments has undermined operations and jeopardized energy stability across the country.
“It is unfortunate the Ministry of Finance has been reduced to an official propaganda office. It is such a sensitive office to be used for that. I will advise that whatever information the Finance Minister provides or shares with the public, kindly double check to ensure that you are dealing with the right information,” Apetorgbor said.
Before, Dr. Amin Adam had addressed the ongoing dispute at the Annual IMF-World Bank Meetings in Washington, D.C., where he expressed disappointment over the shutdown, which he suggested was timed to pressure the government as elections near.
According to Dr. Adam, Sunon Asogli initially agreed to a $30 million settlement but then demanded an additional $30 million upfront.
“It will be as if we as a country, we don’t know our rights, especially when an election is closer everybody thinks that when I put a gun on the head of government by going ahead to shut down, they acted in bad faith,” he stated.
The company has called for a more transparent approach, urging the Ministry to prioritize timely payments to avoid further disruptions to power supply. With the possibility of more shutdowns, if debts remain unpaid, stakeholders are pressing both parties to resolve the matter and restore confidence in Ghana’s energy commitments.
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Ministry of Finance