Genser Energy has secured €456 million in term and revolving credit facilities to support ongoing energy infrastructure projects and expansion in Ghana and other West African markets, marking one of the largest corporate financings in the region’s energy sector this year.
The financing was arranged by FirstRand Bank Limited through its Rand Merchant Bank division, Absa Bank Limited and Standard Bank of South Africa Limited. According to a statement issued by the company, the facilities would provide working capital for the completion of ongoing engineering, procurement and construction projects, strengthen the company’s balance sheet, and provide additional financial flexibility to support expansion plans.
Genser said the funds would support continued investment in Ghana while advancing its expansion into Côte d’Ivoire and other strategic markets in the sub-region.
Mr Baafour Asiamah-Adjei, Chief Executive Officer of Genser Energy, said the financing demonstrated the confidence of the company’s financial partners in its long-term growth strategy.
Since day one, Genser has taken a long-term approach to building energy infrastructure across West Africa,” he said.
He said the company would continue investing in large-scale energy infrastructure to provide reliable power and support industrial development across the region.
The latest financing follows a US$428 million corporate refinancing secured in Ghana and a €200 million equipment loan facility secured by Genser Energy Côte d’Ivoire in 2025. The company also plans to commission its Gas Conditioning Plant and the Takoradi Natural Gas Liquids Export Terminal later this year.
Analysis: Strategic Context and Growth Trajectory
The €456 million credit package—equivalent to approximately US$527 million—reflects the deepening relationship between Ghanaian energy infrastructure firms and South Africa’s leading financial institutions. Standard Bank, Absa, and Rand Merchant Bank have demonstrated sustained appetite for West African energy projects, with Standard Bank’s rest of Africa franchise contributing significantly to the group’s record R49.2 billion profit in 2025.
Infrastructure Expansion
Genser’s immediate spending plan includes completing the upgrade of open-cycle gas turbine plants to combined-cycle systems that improve efficiency while burning less fuel, and readying a gas processing plant under construction in Prestea for launch later this year. The company has also secured an agreement with Côte d’Ivoire’s government to begin construction of a 470-megawatt power project in Taboth, west of Abidjan.
The company currently has more than 334 megawatts of installed generation capacity and operates a 436-kilometre natural gas pipeline network in Ghana. It supplies power to industrial customers and utilities and participates in cross-border electricity exports within the West African region.
Gas Processing and Export Infrastructure
The planned Takoradi Natural Gas Liquids Export Terminal, developed in partnership with the Ghana Ports and Harbours Authority, provides approximately 40,000 cubic metres of cryogenic storage capacity for propane and butane exports, supporting cleaner energy supply chains. The facility is expected to be commissioned later this year, strengthening Ghana’s position in the regional gas market.
What This Means for West African Energy Markets
The financing signals continued investor confidence in Ghana’s energy infrastructure despite global economic pressures. It also demonstrates the viability of natural gas as a foundation for electricity generation in West Africa, where approximately 600 million people still lack access to electricity.
Genser’s focus on Nigeria as a lower-cost gas source is strategic. Nigerian gas prices are about a third lower than those charged by Ghana and Côte d’Ivoire, which will be crucial for the company’s long-term goal of providing low-cost electricity to its growing clientele. The company hopes to make a final investment decision about gas supply from Nigeria by the end of 2027 and begin purchases in barges by 2030.
Outlook
With more than US$2 billion in debt and equity capital raised, Genser’s financing history underscores both the scale of investment required for gas-to-power projects and the growing interest in West Africa’s energy infrastructure. The company’s long-term plan to list on the New York Stock Exchange and another West African bourse signals further ambitions
Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of The Accra Daily Mail, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.
