President Nana Addo Dankwa Akufo-Addo, has sworn into office the 11-member Board (voting members) of the Millennium Development Authority at a ceremony held at the Presidency on Monday, March 13, 2017.
The Board, which is chaired by Prof. Yaa Ntiamoah Baidu, was tasked by President Akufo-Addo to ensure the full implementation of the Second Compact.
This follows the successful execution of the first compact of $540 million, which was channeled towards the restructuring and transformation of Ghana’s agricultural system, as well as the development of some critical road infrastructure.
According to the President, the second compact “has the specific goal of enabling us to overcome one of the major challenges we have in the development of our country, that is the flow of reliable, stable power, both for our economic and personal development. It is a very critical intervention the Millennium Challenge Corporation (MCC) is making in the life of our country.”
The MCC will invest up to $498.2 million to transform Ghana’s power sector and stimulate private investment.
The aim of the five-year Ghana Power Compact is to create a financially viable power sector to meet the current and future needs of households and businesses, and to help fight poverty across the country
To this end, President Akufo-Addo charged the newly sworn-in Board “to make sure that the objectives of the compact are achieved.
The 11-members of this board, who have the voting rights, bear the principal responsibility of ensuring that the objectives of the MiDAare achieved.”
He added that “the Ghanaian people must have confidence in the board that has been assigned this important task. You have a chairman of renown, internationally recognized authority in her field as a zoologist, environmental specialist and building of institutional capacity, and is a very distinguished Ghanaian citizen.”
On the matter of the “private solution to the development of the Electricity Company of Ghana”, President Akufo-Addo noted that, “we (government) believe it is necessary for us to have a look at what is on the table and make sure that the various challenges that are there for the forward progress of the compact, involving the manner of ECG’s role, are resolved.”
The President assured that “hopefully, very soon, government’s take on how we go forward (with ECG) will be out. Our interest is making sure that this compact, which we have adhered to, is implemented, and that it is successfully implemented, so that the people of Ghana will benefit from this exercise, and that is why we have gone into it.”
On behalf of the membership of the Board, Prof. Yaa Ntiamoah Baidu, thanked President Akufo-Addo for the confidence reposed in them, assuring that “whatever it takes for us to deliver, we will deliver to ensure that MiDa achieves its goals and s successfully operates this compact.”
With the main focus of 2nd compact being on energy, Prof. Ntiamoah Badu noted that “we couldn’t have chosen a better focus. We have challenges that we need to resolve to move our country forward, and the board will do everything it can to make it work.”