Ghana seeks BRICS funding for energy sector
The nation needs US$4.4 billion for energy investments between 2025 and 2030, with the New Development Bank as a potential source.
Ghana is seeking to broaden its development and energy financing options by pursuing membership in BRICS. The country aims to translate diplomatic ties into capital, technology, investment, and markets, with the New Development Bank (NDB) identified as a key institution for long-term finance. Ghana's energy sector faces a significant funding gap across generation, transmission, distribution, and infrastructure, with limited government capacity to fund large projects directly.
The nation requires approximately US$4.4 billion for energy sector investments from 2025 to 2030, with an estimated US$2.6 billion expected from private sources, according to the IMF. The NDB could serve as an additional financing channel, complementing existing partners like the World Bank and African Development Bank. Access to NDB funding depends on Ghana's ability to present bankable projects with credible sponsors and clear risk allocation.
BRICS economies offer expertise in oil and gas, power generation, renewables, and electric mobility, presenting an opportunity for Ghana to gain technology and knowledge beyond just capital. The NDB approved about US$3.17 billion for 19 projects in 2025, demonstrating the availability of substantial capital. Ghana intends to develop a pipeline of projects meeting international investment standards to attract and deploy this capital effectively.
Why it mattersGhana's energy sector requires substantial investment, and joining BRICS could provide access to new financing sources like the New Development Bank.