Ghana has been plunged into widespread power disruptions following the complete shutdown of the Akosombo Dam after a devastating fire destroyed key infrastructure at the Ghana Grid Company (GRIDCo) substation at Akosombo. The Ministry of Energy confirmed that the blaze caused extensive damage to the dam’s critical switchyard system, forcing authorities to halt operations entirely — a move that has significantly affected electricity supply across the country. Speaking on the Citi Breakfast Show on Monday, April 27, the Ministry’s spokesperson, Richmond Rockson, described the scale of destruction as severe and unprecedented. The switchyard at the Akosombo Substation is completely burnt down and not salvageable. The primary control room is gone. It was even difficult for us to access the site when we went to assess the situation,” he said. He explained that the damage to the switching system — a critical component for transmitting power from the dam — made it impossible to continue ...
An International Monetary Fund (IMF) staff mission is scheduled to arrive in Accra on April 29, 2026, to begin Ghana’s sixth and final review under its Extended Credit Facility (ECF) programme. The mission, expected to stay for about two weeks, will commence formal engagements on April 30, marking a critical step toward Ghana’s planned exit from the IMF-supported programme in August 2026. The country signed onto the three-year ECF arrangement in May 2023 to stabilise its economy and restore fiscal discipline. This final review will assess Ghana’s performance since the fifth review earlier this year, with particular focus on whether outstanding targets and structural reforms have been met or are close to completion. On the fiscal front, discussions will centre on developments in the energy sector, especially debt management and ongoing structural reforms. The IMF team is also expected to scrutinise government spending priorities, including allocations to key social protection prog...