World Bank calls for stronger private sector role in Ghana’s renewable energy drive
The World Bank Group has called for deeper cooperation between Ghana’s public sector and private investors to accelerate the country’s transition to renewable energy and strengthen long term energy security.
The appeal was made during a visit organised by the International Finance Corporation to the LMI rooftop solar facility, recognised as the largest installation of its kind on the African continent. The visit highlighted the growing role of clean energy solutions in supporting Ghana’s economic development.
Managing Director and Chief Knowledge Officer of the Bank, Paschal Donohoe, emphasised that sustained collaboration between government and private stakeholders is essential to expanding the country’s energy capacity. He noted that such partnerships would not only improve energy reliability but also contribute positively to Ghana’s broader economic outlook.
According to him, increasing private sector participation in renewable energy projects could unlock significant benefits, including job creation and higher tax revenues. He added that the Bank is committed to working closely with both government and private enterprises to support innovation and technical expertise within Ghana’s energy sector.
Meanwhile, Chief Executive Officer of LMI Holdings, Kojo Aduhene, underscored the need for reforms to make the regulatory environment more supportive of private investment. He pointed out that the current structure places considerable control in the hands of the public sector, which may limit opportunities for private companies to contribute meaningfully.
He stressed that creating a more enabling framework would allow private investors to expand their role, drive innovation, and help meet the country’s growing energy demands through sustainable solutions.
