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ECG Reforms Will Make Power Cheaper – MCC Boss

The Acting President of the Millennium Challenge Corporation (MCC) Jonathan Nash has indicated that ongoing power reforms will make electricity cheaper and accessible.

Mr Nash, who met President Akufo-Addo in Washington D.C. on the sidelines of US National Governors Association (NGA) Winter meeting, commended the President for turning around the fortunes of the country in his first year in office.

President Akufo-Addo was a keynote speaker at yesterday’s session of NGA, the first African President to be accorded that honour by the 50 US Governors.

Describing President Akufo-Addo’s first year in office as “a successful presidency,” the MCC boss was hopeful the Millennium Challenge Compact II agreement will have a positive impact on the Ghanaian economy, especially in the area of cheaper energy.

Mr Nash stressed that under the leadership of President Akufo-Addo, the $498 million MCA compact will help Ghana transform its power sector through private sector participation and the ensuing policy and institutional reforms will provide more reliable and affordable power to businesses and households, as well as boost the nation’s economy.

“We are excited about the positive impact and economic growth that can be generated from the investment, and we are ready to stand by your side in whatever way.”

On his part, President Akufo-Addo, told Mr Nash that Ghana will ensure that it meets the September 2018 deadline for the implementation of key agreements stipulated in the Compact II, which will mean the release of the remainder of $198 million by the Corporation would be met.

This, he said, was because “the structure of the understanding with the MCC is much more to our liking than what we inherited. We now have a strong Ghanaian involvement in the ECG concession agreement and it’s a very important consideration for us.”

“At the end of the day, we have to build capacity in our country. We cannot depend, with the greatest of respect, on people like you forever and ever. Ghanaians have to stand up and take control of their own affairs and show themselves capable of managing ECG efficiently.”

President Akufo-Addo commented: “We will get to a situation where ECG’s performance can be significantly enhanced, deliver better services to the Ghanaian people and down the road ensure the provision of cheaper, affordable and reliable supply of electricity. Its impact on our economy will be enormous.”

Prior to the meeting, the Acting Chief Executive Officer of the Millennium Challenge Corporation, President Akufo-Addo held separate bilateral meetings with the Governor of Texas, Gregory Wayne Abbott and James Reuben, a former US Assistant Secretary of State.


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