Ecobank Ghana has launched a landmark initiative to support the country’s transition to clean energy, committing over $31 million through the Accelerating Solar Action Programme (ASAP) to help households, small businesses, and agricultural cooperatives access solar energy solutions.
The initiative, unveiled in partnership with the Government of Ghana and the Green Climate Fund (GCF), is part of Ecobank’s broader strategy to support sustainable finance and climate resilience.
It is designed to address key challenges that have long hindered access to clean energy in Ghana, namely high upfront costs, limited financing options, and lack of awareness.
Speaking at the launch, Mrs. Abena Osei-Poku, Managing Director of Ecobank Ghana, said the bank was proud to be leading the charge towards a lower-carbon economy.
“ASAP is a bold commitment to climate action, economic empowerment, and financial innovation. Through this initiative, we are providing not just affordable loans, but also building the capacity of solar vendors, strengthening institutional frameworks, and creating about 1,800 green jobs,” she said.
Under the programme, households can access green loans of up to GH₵200,000, while businesses can secure up to GH₵10 million at a concessionary rate of 15% per annum, with a flexible repayment period of up to seven years. The goal is to make solar power a practical and accessible energy source for Ghanaians across socio-economic groups.
ASAP is expected to generate more than 1 million megawatt-hours (MWh) of clean energy, reduce over 417,000 tonnes of carbon dioxide emissions, and increase Ghana’s renewable energy capacity by 30.6 megawatts—a 33% boost to the country’s current installed base.
Mrs. Osei-Poku emphasised that Ecobank Ghana was serving as both the Accredited and Executing Entity for the programme.
“This reflects our deep commitment to sustainable finance and our readiness to lead in delivering climate solutions that are scalable, inclusive, and impactful,” she added.
In a speech read on his behalf, Minister of Energy John Jinapor noted that while Ghana’s clean energy ambitions were commendable, they would require massive investment and innovative thinking.
“The benefits of our resource wealth must be shared broadly, ensuring that no one is left behind, including women, youth, and persons with disabilities,” he stated.
He also called for a regional approach to building value chains for energy transition technology.
Also addressing the gathering through a statement, the Minister of Finance affirmed the government’s commitment to reducing Ghana’s carbon dioxide emissions by about 54 billion tonnes by 2030, with the potential to prevent nearly 3,000 premature deaths annually.
He described the ASAP initiative as a “strong vote of confidence in Ghana’s national systems and private sector capacity to drive climate action.”
The programme, he added, closely aligned with national development goals centred on renewable energy access, inclusive growth, and green job creation.
GCF Deputy Director Gissela Berardi commended Ghana for its leadership in climate action and urged the government to accelerate the adoption of solar energy as a pathway to opportunity and equity.
ASAP marks a significant step in Ghana’s energy transition journey, highlighting the growing role of public-private partnerships in addressing climate change while unlocking economic opportunities for all.