Ghana Compact Eleven to be signed early next year

A team of experts from the Millennium Challenge Corporation (MCC) of the US is expected in Accra next month to assess work done on proposed projects to be executed under the Ghana Compact Eleven programme.

This is to enable the MCC to approve the Ghana Compact Eleven Concept early 2013.

The Ghana Compact Eleven Coordinating Team is currently finalizing the Concept which is aimed at developing projects and initiatives to address the constraints to the supply of reliable and adequate electric power in the country.

Professor Samuel Sefa-Dedeh, National Coordinator of the Ghana Compact Eleven Coordinating Team, announced this at the fifth Power Breakfast Meeting in Accra on Tuesday, organised by the Canadian Chamber of Commerce, Ghana.

The meeting, which was on the theme: “The Changing Business Environment in Ghana”, and attended by policy makers, captains of industry, academia, civil society, young business leaders and special interest groups, discussed Ghana’s Compact Eleven Concept and its business opportunities for the Ghanaian entrepreneurs.

Prof. Sefa-Dedeh said the Team had held extensive public consultations with various interest groups from both public and private sector, which was a critical requirement in the development of the compact.

He said the Concept had a lot of business opportunities for the private sector and encouraged its players to study the concept and explore available areas of investment.

Ms Hanna Tetteh, Minister for Trade and Industry said government had put in place measures to enhance the capacity of the Ghanaian private sector players to enable them to compete favorably with foreign counterparts for projects under procurement regulations.

Ms Tetteh explained that government was developing a public private partnership bill to spell out ways to engage the private sector for effective development.

She urged the private sector to remain prepared at all times to enable them to take advantage of the emerging business opportunities.

Mr. Herbert Morrison, President of the Canadian Chamber of Commerce, Ghana commended the Ghanaians for the smooth transition after the demise of the late President John Evans Atta Mills, saying “this goes a long a way to further promote investor confidence in our dear nation”.