Ghana Plans to Add 3,000MW to Power Supply by 2030 – Ato Forson

Finance Minister Dr. Cassiel Ato Forson says expanding Ghana’s energy supply is key to industrialization, noting that unreliable power across Africa is costing the continent billions and hurting manufacturing.

Speaking at the Ishmael Yamson & Associates Business Roundtable on Thursday, May 28, Dr. Forson revealed that Ghana aims to add 3,000 megawatts of generation capacity by 2030 to boost stability and support industrial growth.

“Ghana understands these challenges deeply. We are therefore targeting 3,000 megawatts of installed generation capacity by 2030,” he said.

He added that President John Dramani Mahama recently announced plans for 1,200 megawatts as part of this goal. Of the total 3,000MW target, 30% will come from renewables.

Dr. Forson pointed out that Africa loses about $25 billion each year due to power outages, which he described as a major barrier to productivity and value addition.

“We cannot industrialise in darkness. Energy remains central to Africa’s transformation. Yet over 600 million Africans still lack access to electricity. Africa collectively loses an estimated US$25 billion annually through power outages,” he stated.

He called the energy deficit unacceptable given Africa’s vast resources in gas, hydro, solar, wind, and critical minerals needed for the global energy transition.

“This is unacceptable, in fact, in a continent endowed with abundant gas, hydro, solar, wind, and critical minerals required for the global energy transition. How can Africa speak meaningfully about industrialisation without reliable and affordable power?” he asked.

Dr. Forson said Africa’s next phase of industrial growth must move beyond raw exports to processing and value addition.

“The next quarter of a century will therefore become Africa’s industrial century, not just extracting lithium, but refining lithium, not just exporting bauxite, but producing aluminium, not just exporting cocoa, but processing and building competitive value addition and value chain,” he said.

He stressed that reliable energy isn’t just an infrastructure issue — it’s essential for competitiveness and job creation.

He also noted that trade integration through the African Continental Free Trade Area (AfCFTA) will help drive growth and reshape commerce across the continent.