GNC Chicago hosts roundtable discussions with Millenium Challange Corporation

In a bid to carry the message of the Millennium Challenge Corporation to the people directly, the Chief Executive Officer of the Millennium Challenge Corporation ,MCC, Ms. Dana Hyde and members of her staff met with Officials of the Ghana National Council of Metropolitan Chicago, GNC, led by its President, Mr. Ebenezer Antwi-Nsiah. The discussions brought together a group of Ghanaian business entrepreneurs and professionals in the Chicago metropolitan area for a round-table discussions on the MCC's five-year Ghana Power Compact project. The compact project will support the transformation of Ghana's power sector and stimulate private investment.

The Millennium Challenge Corporation (MCC) is a bilateral United States foreign aid agency established by the U.S. Congress in 2004, applying a new philosophy toward foreign aid. The MCC's main goal is to reduce poverty through increase economic growth in selected countries that qualifies for the program. It is an independent agency, separate from the State Department and USAID. Under its current Chief Executive Officer Ms. Dana Hyde, the MCC is changing the conversation on how best to deliver smart U.S. foreign assistance by focusing on good policies, country ownership, and results. Her goal after taking over as CEO has been to bring the conversation to the public by organizing seminars and meeting small businesses to give information and discuss how best to get businesses involved in the MCC's projects. The vibrant Ghanaian Community in Chicago led by the GNC was the first community to be selected.

Ghana and the United States signed the current compact in August 2014 for the release of $498,200,000 grant meant to improve power distribution in the country. It also includes significant policy and institutional reforms. It's the largest U.S Government –funded transaction to date in support of power in Africa. This power compact project seeks to create a financially viable power sector that will meet the current and future needs of households and businesses, and ultimately help fight poverty in Ghana and other African countries who qualify for similar programs. This was revealed by Ms. Dana Hyde to the gathering at the Luxurious Glacier Center, (the University of Chicago graduate business school) 450 North City front Plaza Drive, Chicago Illinois.

The MCC CEO informed the gathering that the corporation does not fund Independent Power Production but its activities provides fertile business grounds that attracts small and large scale power producers to invest in programs initiated by the MCC. General Electric Company, GE, in the USA, is among companies taking advantage of the current compact program to invest in Electricity production in Ghana. GE will generate about one thousand Megawatts to feed the national grid in their initial investment. There are other companies that have committed to generate about Two thousand Megawatts to feed the Ghanaian national grid as a result of the current compact project .

The second compact project calls for the Ghana government to give up the management of the Electricity Company of Ghana, ECG, for a private company to manage in the hope of bringing efficiency in the ECG's operations. The outsourcing of management of the company allays fears that the Ghana government-owned power company was up for outright sale. There are subsidies embedded in the program to provide subsidies to communities that could not afford to pay. Ghana is expected to contribute 15 per cent of its own funds in additions to the funds being provided by the MCC. This arrangement will push the total funding of the project to $535,565,000, which will entirely be devoted to increase power distribution in the country.

A country's qualification into the MCC programs is based on score cards such as Economic Freedom, Control of Corruption, Democratic Rights, Investing in People, Ruling Justly and others. The data for qualification is collected from organizations such as Freedom house, the World Bank and others. Contrary to public belief, the funds are not transferred to Ghana or any foreign country. Payments for contracts under approved compact projects are made directly from the U.S.A.

Mrs. Katerina Ntep, former country director Resident in Ghana for 6 1/2 years was present. She expressed countless compliments about the people of Ghana. She was also resourceful in helping the CEO answer some of the concerns and questions raised by the participants.

In his opening remarks the President of the Ghana National Council, Ebenezer Antwi-Nsiah thanked the attendees and applauded the MCC for its efforts not only about its investments but also its laudable attempt to reduce poverty globally. Mr. Antwi-Nsiah informed the attendees that the GNC had launched an investment initiative in 2015 to encourage investors to Ghana. He stated that the GNC would start series of seminars and round-table discussions towards the initiative. As part of the initiative, he informed the attendees that the president of Ghana, His Excellency, John Dramani Mahama, is expected in Chicago in July to join the GNC in its discussions with both Ghanaian business entrepreneurs in the diaspora and non-Ghanaian business men and women. Mr. Nsiah extended a special invitation to the MCC CEO, Dana Hyde, to join the GNC at Ghanafest 2015 to be held on July 25 in Chicago. In conclusion, Mr. Antwi-Nsiah thanked the CEO of the MCC and her staff, for their dedication and efforts to bring the conversation down to small business entrepreneurs.

Members of the Ghanaian business community expressed their gratitude to the MCC CEO and her staff or taking time to meet with them.

The attendees of the round-table conference from the Ghanaian community included: Mr. Ebenezer Antwi-Nsiah, GNC President, Mr. Paa Kwesi Sam, GNC Vice President, Mr. Steve Dei, Organizing Secretary of GNC and President of the Ewe Association of Chicago, Mr. Augustine Afriyie, President & CEO of Oakley Construction, Ms. Vicky Sampah, Managing Broker, L'abri Realty, Hajjia Habiba Abdallah, Queenmother of Ghana Northern Union, Mr. Bennett Agyeman, retired professor of Northwestern Business College, Chicago, Mr. Kwaku Oware-Baning, CEO of ICON Sytems, Inc, Mr. Nelson Hodogbey, President & CEO of Medex Healthcare, Chicago, Mr. Saddik Aboagye Bosompem, Executive Secretary of GNC, Ms. Antoinette Kwateng, Deputy Inspector-General with the State of Illinois, Nana Akwasi Addae, Managing Partner, Bio Kids Village, Mr. Seth Ababio, Owner, Fab Consulting, Mr. Englebert B. Moses, CEO, Geolink Partners, Mr. Ali Braimah, Strategic IT & Security Advisor at TransUnion. Also present was the Owner of Sankofaonline.com, Mr. Reuben Hadzide.

The MCC staff members who were present were: Ms. Dana Hyde, CEO, Ms.Katerina Ntep, Managing Director, Sector Operations Division, Ms. Lorelle Atkinson, managing Director, Department of Congressional and Public Affairs, Mr. Preston Winter, Director, Program Procurement and Ms. Gina Cavallaro, Writer/ Editor.