Prez Mahama swears in MiDA Board
A nine-member Board for the Millennium Development Authority (MiDA) has been sworn in and the members charged to work as a team, to provide the needed leadership for the execution of projects under the Second Compact of the Millennium Challenge Account.
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President John Mahama, who made the call when he swore in the board yesterday, said the successful completion of the First Compact, which saw the expansion of agriculture and assurance of food security in the country, placed a greater responsibility on the new board to excel.
Membership
The board is under the chairmanship of Professor Sefa Dede. Other members include: Nana Oye Lithur, the Minister of Gender, Children and Social Protection; Mr Cassiel Ato Forson, Ministry of Finance; Mr Kweku Ricketts-Hagan, Ministry of Trade and Industry; Mr John Jinapor, Ministry of Energy and Petroleum, and the Chief Executive of MiDA, Mr Martin Esson-Benjamin.
Compact II
President Mahama said Compact II was dedicated to the expansion and stability of power supply in the country and that one of the critical actions needed to secure the compact was the establishment of a governing board.
On August 5, 2014, Ghana signed the Second Millennium Challenge Corporation Compact that is the largest United States Government-funded transaction under President Barack Obama’s Power Africa initiative.
The Second Compact, dubbed the Ghana Power Compact, is aimed at investing $498 million in the transformation of Ghana’s power sector and stimulating private investment.
The five-year compact is expected to create a self-sustaining energy sector in the country through the reformation of the laws and regulations needed to transform the power sector.
It is also expected to support the management of the entire power system, provide a more robust framework for private investment, as well as a more competitive process for the procurement of power from independent producers.
President Mahama tasked the board to review fiscal accountability to ensure that funds meant for the project were used judiciously.
He also said the government had put the necessary mechanisms in place ahead of the disbursement, adding that the process of selecting MiDA staff, which formed part of the criteria, was ongoing.
Chairman
Prof. Dede, who said the project was time-bound, also described it as a critical milestone to be achieved within the stipulated time.
He called for support from the government and the power agencies in the discharge of their duties.
“I trust that with maximum cooperation, we will deliver a second successful compact,” Prof. Dede added.