Business News of 2014-08-06

New team will implement compact 2 – MIDA Chairman

The Chairman of the Millennium Development Authority (Ghana) board, Professor Sefa-Dede says a new team will be put in place to implement the second compact that was signed in Washington on Monday.

The Millennium Challenge Corporation signed the largest US government-funded transaction of President Obama’s Power Africa initiative designed to double access to power on the African continent with the Government of Ghana.

There have been calls for government to maintain the management team that successfully implemented the first compact between 2006-2012 spanning the Kufour and Mills administrations to ensure continuity.

But speaking on the Citi Breakfast Show on Wednesday August 6, 2014, Prof. Sefa Dede said, although the previous management team did a great job in implementing compact 1, the nature of the projects under the new compact requires a different team.

He however noted that the process of applying for positions on the new team would be open to all including members of the first management team.

“The process that was used for compact one is slightly different and the team and the activities are different from the second compact and therefore what you are looking for is a team that can deliver on the specific activity identified for the second compact,’’ he said.

President John Dramani Mahama in his comments at the signing ceremony in Washington described the first MCA program as a success, resulting in the “transformational change in the agricultural sector."

Speaking on the Citi Breakfast Show, a former Community and Public Outreach Officer of MIDA 1, Nana Ofori Owusu, urged government to maintain the management team that implemented the first compact stressing that ‘if it ain’t broke, why fix it."

But Prof. Sefa-Dede stated that, “the positions will be advertised and all Ghanaians including those who participated in the first compact can apply and they will be considered through the normal processes of review and interview.”

He further explained that the new compact will focus solely on power. According to him, the power sector in Ghana requires more investment and the MCC “is providing funds for specific activities contributing to the total improvement of the power sector.’’

Prof. Dede concluded that power is a critical sector of Ghana’s economy and if done right there will some improvement in the power sector to transform the economy and improve the lives of people.

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