In a strategic move echoing a commitment to transparency and efficiency, the World Bank has inked an accord with the Government to terminate sole sourcing in the nation’s energy sector. This pivotal agreement was disclosed by Pierre Laporte, the World Bank’s Country Director for Ghana in yet-to-be-aired interview on Joy News on December 21, 2023.
The decision arrives amidst escalating apprehensions surrounding Ghana’s energy infrastructure, notably encompassing revenue mobilisation intricacies, the imperative to curtail wastages in power distribution, and the mitigation of transmission losses. Compounding these concerns are the contractual intricacies with Independent Power Producers (IPPs) in the country.
Effective 2024, the collaboration mandates that all contractual engagements within the energy domain undergo rigorous competitive bidding processes. Mr Laporte articulating optimism, asserted that this recalibration will be instrumental in fortifying value-for-money benchmarks and streamlining project realization.
“This framework envisages optimising Ghana’s energy contracts and ensuring judicious resource allocation,” he affirmed.
Despite the government’s historical reservations concerning power overabundance, Mr Laporte elucidated exceptions, particularly for sectors necessitating revitalised capital influxes. Encouragingly, he advocated for a renewed emphasis on sustainable energy paradigms, citing their burgeoning cost-efficiency trajectory.
In a candid assessment, Mr Laporte underscored Ghana’s imperative to maximise dividends from its mining and hydrocarbon portfolios, accentuating the nation’s prerogative to negotiate equitable terms in its extractive engagements.
The collaboration portends a transformative phase for Ghana’s energy sector, encapsulating rigorous procurement norms and sustainability imperatives, underpinned by the World Bank’s strategic guidance.
Source: norvanreports.com