Fidelity Bank has called for a shift toward sustainable and transparent financing models to address the country’s long-standing power sector challenges – which include debt accumulation, liquidity shortfalls and inefficiencies that continue to undermine reliability and growth.
Speaking at an energy sector roundtable themed ‘Powering Ghana Forward: Strategising for a Self-Sustaining and Resilient Power Sector in 10 Years’ – held as a prelude to the Ghana Economic Forum (GEF) organised by Business and Financial Times (B&FT),- Mr. Atta Yeboah Gyan,Deputy Managing Director, Operations & Support Functions, Fidelity Bank observed that despite progress in diversifying the energy mix to include gas, thermal and renewable sources, the sector remains constrained by deep-rooted structural inefficiencies.
He said the sector is weighed down by inefficiencies and legacy debts exceeding US$3billion, limiting its capacity to deliver affordable and reliable power.
“The inefficiencies in collection, tariff non-alignment and policy uncertainty have created a cycle where debts grow faster than investment,” Mr. Gyan said, warning that a financially distressed energy system cannot sustain industrial expansion or support economic recovery.
He noted that while initiatives such as the ESLA bonds provide short-term relief, they are not enough to restore the sector’s financial health.
Mr. Gyan called for a coordinated approach that combines fiscal discipline, policy alignment and private-sector participation to create a more resilient power system.
“What Ghana’s power ecosystem needs today is not more temporary fixes but sustainable financing structures, underpinned by transparency, innovation and collaboration,” he said.
Mr. Gyan stated that resolving the energy sector’s financial instability requires deeper partnerships between banks, policymakers and power producers.
He argued that commercial lenders are ready to play a more strategic role, not just as financiers of projects but also as partners in designing solutions that balance investment risks with developmental goals.
Fidelity Bank, he said, is already aligning its sustainable finance framework to support renewable energy investments and cleaner technologies. The bank has rolled out renewable asset finance products to help businesses and households adopt solar and hybrid systems. It is also exploring green financing, blended capital and ESG-linked instruments to close the funding gap for renewable energy projects and enhance private-sector participation.
Mr. Gyan underscored the importance of cost-reflective tariffs, saying that realistic pricing frameworks are needed to attract long-term capital from investors and lenders. He also called for digitisation and smart metering across the electricity value chain to reduce revenue leakages and improve collections efficiency.
“Strong governance and accountability must underpin every effort, ensuring that each cedi invested delivers not only value and reliability but also lasting impact,” he added.
The Fidelity executive said Ghana’s growing population and industrial ambitions make energy stability central to its economic transformation. He urged greater collaboration among government agencies, regulators and financial institutions to ensure that reforms go beyond emergency interventions.
“Our shared goal must be to transform a sector that has long been defined by debt and dependency into one defined by reliability and resilience,” Mr. Gyan said.
He reaffirmed the bank’s commitment in supporting Ghana’s transition toward a cleaner, financially sustainable energy system – arguing that a stable power supply is essential to unlocking productivity, confidence and growth.
