President John Dramani Mahama has announced plans to add 2,000 megawatts (MW) of nuclear power to Ghana’s energy mix, saying the move would help reduce electricity tariffs, particularly for industries, and diversify the country’s sources of power generation.
He said Ghana had reached an agreement with Russia’s nuclear power agency, Rosatom, on the proposed development, with negotiations expected to progress after the Attorney-General reviews the memorandum of understanding (MoU).
President Mahama disclosed this during an engagement with the Presidential Press Corps following his recent international engagements in Ethiopia, Russia and Antigua and Barbuda.
He explained that nuclear energy would complement existing hydro, gas and solar sources to create a balanced energy mix and reduce the cost of electricity. “We’re looking initially at adding 2,000 megawatts of power from nuclear into our energy mix,” he said.
“One, because the tariffs on nuclear power are much lower than when you use fossil fuels. So if we have hydro, we have gas, we have nuclear, we have solar, I mean, that will give us a combination that makes us able to bring tariffs down, especially for industry.”
The President said Rosatom had the expertise and capacity to support Ghana’s nuclear energy ambitions, having constructed nearly 38 nuclear plants in different locations, including Egypt.
He said the agency would follow up with discussions with the relevant Ghanaian authorities after the Attorney-General had reviewed and approved the MoU. The parties would subsequently negotiate the structure of the proposed arrangement before it was submitted to Cabinet for consideration and, if approved, Parliament for ratification. “If it’s approved, it will go to Parliament for ratification,” he said.
The nuclear energy proposal was among the key issues discussed during President Mahama’s bilateral engagement with Russian President Vladimir Putin at the Russia-Africa Summit.
He said the discussions also covered education, security, artificial intelligence, digital education, transportation and railway development, as well as increased scholarship opportunities for Ghanaian students in Russia.
On Ghana’s growing engagement with Russia and its decision to become a BRICS partner, President Mahama dismissed suggestions that the country was abandoning its non-alignment foreign policy.
Quoting Ghana’s first President, Dr Kwame Nkrumah, he said: “We neither face east nor west. We face forward.”
He explained that the recommendation for Ghana to become a BRICS partner originated from a ministerial committee established under the previous New Patriotic Party administration and was subsequently approved by Cabinet.
He stressed that Ghana was seeking partnership status, not full membership of BRICS, insisting that the decision was consistent with its foreign policy principle of maintaining friendly relations with all countries. “We’re not drifting anywhere. We are friends to all and enemies to none,” he said.
Debt, reparations and international cooperation
President Mahama also highlighted discussions with British Prime Minister, Andy Burnhamahead of Ghana’s assumption of the African Union (AU) chairmanship and the United Kingdom’s presidency of the G20 next year.
He said the discussions focused on reforming the global financial architecture, addressing Africa’s debt burden and improving access to affordable credit for developing countries.
He noted that about 54 countries globally were spending more on debt repayment and interest than on healthcare, describing the situation as one requiring urgent international attention.
He said Ghana’s experience under the G20 Common Framework for debt treatment made the discussions particularly important, given the country’s substantial debt-service obligations in the coming years.
The President called for stronger African financial institutions, including the African Development Bank, African Export-Import Bank and Africa Finance Corporation, to improve their capacity to finance development on the continent.
He said African countries continued to face high borrowing costs because of risk premiums, which could add about four percentage points to loans before interest rates were applied.
On reparations, President Mahama said Ghana and other African countries were making progress towards securing acknowledgement, apologies and practical interventions for the consequences of the transatlantic slave trade and colonialism.
He cited the adoption of a United Nations resolution on the slave trade, which received 123 votes, as a significant development in advancing the conversation. He said reparations should go beyond formal apologies to addressing the enduring consequences of slavery and colonial exploitation through interventions in debt treatment, education, healthcare and economic development.
He maintained that reparations did not necessarily have to involve direct cash payments, but could take other forms capable of addressing the historical harm suffered by African countries.
Trade and investment opportunities
The President also outlined investment and development discussions with Singapore, Canada and Caribbean countries. He said Singapore had about 150 businesses operating in Ghana,
