The Export Credit Insurance Corporation of South Africa (ECIC) has sounded a note of caution regarding investments in Ghana due to the country’s economic volatility. Despite being involved in significant projects such as the Send Power project and the Rural Electrification Project, ECIC is taking a cautious approach, emphasizing the need for thorough risk assessments before insuring any future projects in Ghana.
Portia Dube, Head of Credit Development at ECIC, highlighted the corporation’s concerns, stating that Ghana’s economic situation poses a potential risk factor for insuring energy and power projects. ECIC’s cautious stance is a response to the current economic climate in Ghana, which has raised concerns about the viability of investments in the country.
While ECIC has a history of involvement in Ghana’s energy sector, the corporation is now taking a more measured approach, prioritizing risk assessment and mitigation strategies to ensure that any future investments are secure. This cautious approach may impact the pace of investment in Ghana’s energy sector, but it also reflects ECIC’s commitment to responsible and sustainable investment practices.
Ruth Abla ADJORLOLO
