President John Dramani Mahama has urged African countries to adopt a pragmatic approach to the energy transition, arguing that oil and gas must continue to play a role alongside renewable energy in addressing the continent’s energy challenges.
The President made the call as Africa Oil Week (AOW) 2026 got underway in Accra, attracting policymakers, investors, energy executives and industry stakeholders from across the continent and beyond.
Representing President Mahama at the opening, Chief of Staff Julius Debrah said Africa’s energy strategy must be shaped by the continent’s unique development needs rather than simply replicate models used by wealthier economies.
He stressed that expanding access to dependable and affordable electricity would require a combination of conventional energy sources and renewables to support industrialisation, economic growth and improved living standards.
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The call comes at a time when African governments are under increasing pressure to develop their oil and gas resources while accelerating investment in cleaner energy technologies.
With large sections of the continent still lacking reliable electricity and access to clean cooking, the government believes hydrocarbons remain important to Africa’s development while renewable energy capacity continues to expand.
Debrah said Ghana’s energy strategy would focus not only on producing natural resources but also on creating the infrastructure and industries needed to turn those resources into broader economic opportunities.
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AOW 2026 also provided Ghana with an opportunity to present itself as an increasingly attractive destination for investment in the petroleum sector.
Debrah pointed to the country’s economic performance, including real GDP growth of 6% in 2025 and a sharp reduction in inflation from 23.8% at the end of 2024 to 5.8% at the end of 2025 and 4.6% by July 2026.
He said maintaining macroeconomic stability would be crucial to rebuilding investor confidence and attracting long-term capital into Ghana’s energy industry.
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A credible investment environment begins with a stable economy
He added that investors ‘need confidence in our currency, fiscal policy, institutions, and the broader direction of the country.’
According to the Chief of Staff, Ghana’s petroleum potential remains significant, with the Eban and Akoma discoveries at Cape Three Points adding to exploration prospects in areas including the Voltaian Basin, Eastern Basin, Outer Continental Shelf and Keta Basin.
The opening day also featured the signing of a Memorandum of Understanding between the Government of Ghana, the Ghana National Petroleum Corporation (GNPC), Shell and Chevron concerning the South Deepwater Tano Block.
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The agreement forms part of efforts to deepen investment and exploration activity in Ghana’s upstream petroleum industry.
Government officials also highlighted the importance of refinery operations, increased use of domestic natural gas and regional energy cooperation as part of Ghana’s broader strategy to strengthen energy security and drive economic development.
The discussions at AOW 2026 ultimately centred on finding a sustainable balance between Africa’s immediate energy needs and its long-term transition towards cleaner sources, while ensuring that the continent’s energy policies contribute directly to economic growth and the reduction of energy poverty.
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