Business Outlook Africa

Energy

Energy

200 Power Sector Leaders Converge in Accra as Ghana Hosts 60th APUA Annual Meetings

Ghana is set to host the 60th Annual General Meetings of the Association of Power Utilities of Africa (APUA), from Monday, July 27 to Friday, July 31, 2026.
The event is being held under the theme “Accelerating Africa’s Electricity Market Integration: Advancing Regulatory Readiness, Regional Market Development and Strategic Partnerships,” by the Ministry of Energy and Green Transition in collaboration with the Volta River Authority, Bui Power Authority, Ghana Grid Company, the Electricity Company of Ghana, and the Northern Electricity Distribution Company will be held at the Mövenpick Ambassador Hotel in Accra .

Energy

PMSU-VALCO Distances Itself from Demonstration, Pegs True Cost of VALCO Revival at $700 Million

The Professional and Management Staff Union (PMSU) of VALCO has distanced itself from the ongoing demonstration organized against the search for a strategic investor for the Volta Aluminium Company.

In a statement released on July 27, 2026, PMSU-VALCO, which represents Assistant Managers, Managers and Area Managers of the company, explained that it has no knowledge of, involvement in, or association with the demonstration, noting that it was not consulted or engaged in any form prior to its planning or announcement.

Energy

Energy Ministry Announces Final Phase of Kumasi–Anwomaso Transmission Line and Substation Upgrades, Warns of Temporary Outages

The Ministry of Energy and Green Transition, together with the Ghana Grid Company Limited (GRIDCo) and the Electricity Company of Ghana (ECG), has announced the commencement of final phase of the Kumasi–Anwomaso Transmission Line Upgrade (K1–K2 Project) and the transformer upgrade at the Kumasi (Ahodwo) Substation from July 20, 2026.

Chief Executive Officer of Star Oil, Kwame Tieku
Energy

Don’t Fill Up Your Tank Today — Star Oil CEO Warns Customers Amid Flooding

The Chief Executive Officer of Star Oil, Kwaku Tieku has cautioned its customers not to buy fuel or fill up their tanks today amid the current flooding situation. In a post made on Facebook on June 29,2926, Kwaku Tieku explained to customers that “floods are a big risk for water entering fuel underground tank” hence urging them not to buy fuel if not necessary. His post follows the heaviest single-day downpour of 140 millimetres of rainfall on June 29,2026 which caused severe flooding and displaced many Ghanaians. The rainfall which occurred on June 29,2026 has been described as the highest amount of rainfall recorded since 1995. Kwaku Tieku however assured customers and the general public that their teams “are constantly monitoring for water infiltration”. Star Oil Company Limited is a leading, wholly Ghanaian-owned Oil Marketing Company (OMC) which was established on October 7, 1998. It currently holds the distinction of being the oldest independent OMC in Ghana operating without foreign or state involvement. Over the years, Star Oil has expanded aggressively to become the country’s largest distributor of petroleum products, boasting a vast network of over 250 fueling stations nationwide.

Energy

GRIDCo, ECG Shut Down Mallam and Achimota Substations as Flooding Hits Critical Infrastructure

The Ghana Grid Company Limited (GRIDCo) and the Electricity Company of Ghana (ECG) have announced the temporary shutdown of the Mallam and Achimota Primary Substations, following severe flooding of critical electricity infrastructure across parts of the Greater Accra Region. In a joint press release dated 29th June, 2026, the two institutions stated that the torrential rainfall that is occurring has resulted in flooding at a number of important substations, which places electrical equipment and operational staff at risk.. Both GRIDCo and ECG stated that the decision to temporarily cut power supply from the affected substations was taken in the interest of public safety, to safeguard lives, protect property, and prevent further damage to the electricity network. The institutions also said that they would restore power to the affected substations only after they can assess conditions are safe enough to do so.. They cautioned the public that as heavy rains and flooding persist, power supply may be temporarily interrupted in other affected areas as a precautionary measure, with assessments of the transmission and distribution network ongoing.

Energy

NPA CEO Inaugurates Multi-Stakeholder Bitumen Technical Committee

The Chief Executive Officer of the National Petroleum Authority (NPA), Mr. Godwin Kudzo Tameklo has inaugurated a 16-member multi-stakeholder Bitumen Technical Committee to guide the use of bitumen in road construction . The inauguration which took place on June 17,2026 saw the 16-member committee being tasked with ensuring the development of a robust regulatory framework to guide the quality, regulation, and use of bitumen in Ghana’s road construction sector. The committee will be chaired by Mr. Abass Tasunti, Director of Economic Regulation and Planning (ER&P) at the NPA, with Ms. Bridgette A. Turkson, Acting Director of the Licensing Directorate serving as Co-Chair.   Other members include representatives from the NPA’s Quality Assurance, Licensing, Inspections Monitoring and HSE, and Economic Regulation and Planning Directorates, as well as key stakeholders from the Ghana Highways Authority (GHA), Ghana Standards Authority (GSA), Ghana Revenue Authority (Customs Division), and the Ministry of Roads and Highways. The Bitumen industry though having existed in Ghana for several years still lacks a dedicated regulatory framework governing key activities such as importation, storage, transportation, distribution and quality assurance.  

Energy

PURC Collaborates with ECG and GRIDCo to Ensure Reliable Power Supply for Consumers During the 2026 FIFA World Cup

As the nation prepares for the excitement of the 2026 FIFA World Cup, the Public Utilities Regulatory Commission (PURC) is taking proactive steps to safeguard the interests of electricity consumers. To ensure that football fans across the country enjoy an uninterrupted viewing experience, the Commission convened a strategic alignment meeting on Tuesday, 9th June 2026, with leadership of Ghana Grid Company (GRIDCo) and the Electricity Company of Ghana (ECG). The meeting focused on reviewing preparedness plans and aligning operational measures for seamless system operations throughout the World Cup period. The Executive Secretary of PURC, Dr. Shafic Suleman, outlined a strict follow-up framework to monitor performance closely and to ensure strict regulatory oversight on quality of service: • Active Monitoring: The PURC’s Energy Services and Performance Monitoring (ESPM) and Regional Operations and Consumer Services (ROCS) Directorates are collaborating to actively monitor power supply reliability and service quality. • Direct Coordination: The Commission is obtaining direct contact details of key technical personnel from both utilities to facilitate instant regulatory intervention during emergencies. • Unified Messaging: PURC has directed GRIDCo and ECG to maintain a joint stakeholder communication framework for maximum public accountability. Streamlined Utility Commitments
The utility service providers outlined concrete operational measures to the Commission to maintain network stability: Electricity Company of Ghana (ECG):
The Ag. Managing Director of Electricity Company of Ghana (ECG), Ing. Kwame Kpekpena, outlined the following measures: • Suspended Maintenance: All planned maintenance should be halted and that work should only be restricted to emergency fault rectifications. • Standby Teams: Technical teams and contractors would be stationed near heavy-demand centres for rapid response. • Asset Protection: Service Providers should partner with National Security for increased surveillance around critical infrastructure. • Consumer Updates: Service Providers should prioritise public announcements to assure consumers of prompt fault restorations. Ghana Grid Company (GRIDCo):
The Chief Executive Officer of GRIDCo, Ing. Frank Otchere, outlined the following measures: • Grid Fortification: All identified hotspots within the electricty network should be addressed, and all non-critical planned maintenance should be deferred. • Vegetation Management: Intensify bush clearing along transmission lines, which has been ongoing since May 2026. This is to prevent any tree branches falling over electricty lines, thereby affecting quality of supply. • 24/7 Operations: All major substations will be physically manned around the clock, with Area Managers deployed for swift resolution of issues. • Generation Alignment: Optimized generation schedules have been finalised with power-producing companies. Dr. Suleman commended both ECG and GRIDCo for coming out with such proactive and consumer-centric measures to provide reliable power supply to the Ghanaian consumers. This is a signal of intentional efforts to serve and protect the interest of the Ghanaian consumers. The PURC remains fully committed to protecting consumer rights. The Commission would continue to monitor operations of the service providers and is on standby to address in a timely manner any unforseen issues that may come up. Source: https://purc.com.gh/news-det/635782014

Energy

TOR Records First Profit In A Decade As SIGA Commends Historic Financial Turnaround

The State Interest and Governance Authority(SIGA) has commended the Board, Management and staff of Tema Oil Refinery(TOR) for its submission of its Audited Financial Statements for the past 7 years . In a statement released on Monday, March 1,2026, the authority explained that the subimission of Audited Financial Statements by TOR is a step in the right direction considering the fact that the State Agency had not published its Audited Finacial Report since December 2019. SIGA also commended TOR for recording a Profit Before Tax of GHS 1.24 billion in the 2025 Financial Year, the refinery’s first ever profit recorded in the past 10 years. SIGA further highlighted several notable performances underpinning the turnaround, including strong revenue growth representing TOR’s best financial performance since 2019, a foreign exchange gain of GHS 1.3 billion from prudent financial and forex management, and growth in associate profit to GHS 155 million. The refinery also reduced trade and other payables from GHS 7.1 billion in 2024 to GHS 5 billion in 2025, while receivable days improved significantly from 1,099 days to 652 days. Total debt levels also declined between 2024 and 2025.Additionally, TOR successfully completed Turnaround Maintenance (TAM) activities, refining approximately 600,000 barrels of crude oil. Despite the progress, SIGA acknowledged that liquidity pressures, retained deficits, and long-term balance sheet restructuring remain areas of concern. The Authority urged TOR’s Board and Management to sustain momentum, deepen operational efficiencies, strengthen corporate governance standards, and accelerate efforts toward long-term profitability and national energy security. SIGA reaffirmed its commitment to supporting all Specified Entities that demonstrate accountability and measurable performance outcomes aligned with Ghana’s national development priorities.