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Ghana Compact II
On August 5 2014, The Government of Ghana signed the second Millennium Challenge Corporation Compact and is the largest U.S. Government-funded transaction of President Obama’s Power Africa initiative.
This Second Compact dubbed the Ghana Power Compact seeks to double access to power on the African continent—with the Government of Ghana. The Compact intends to invest up to $498.2 million to support the transformation of Ghana’s electricity sector and stimulate private investment. Present at the signing ceremony was the Secretary of State John Kerry and His Excellency the President of the Republic of Ghana, John Dramani Mahama, which was held during the U.S.-Africa Leaders Summit at the U.S. State Department in Washington, D.C.
The five-year Compact is designed to create a self-sustaining energy sector in Ghana by reforming laws and regulations needed to transform the country’s power sector. The Compact will support improved management of Ghana’s entire power system, providing a more robust framework for private investment as well as a more competitive process for the procurement of power from independent producers. It will address challenges in distribution, generation and access to energy in Ghana. The Government of Ghana will invest $37.4 million of its own funds in the initiative making the Compact a total investment of up to $535.6 million.
“This new Compact with the MCC demonstrates the growing cooperation between Ghana and the USA. It will benefit millions of our people and contribute immensely to the achievement of my 'Energy For All' objective," said John Dramani Mahama, Ghana’s president.
MCC will make an initial investment of up to $308.2 million, including funding to put the Electricity Company of Ghana, the country’s main distribution company, on a sustainable path, help the utility meet current electricity needs and upgrade infrastructure to reduce outages and improve service. A second tranche of up to $190 million in funds will be made available if Ghana accomplishes a set of reform targets set forth in the Compact.
A copy of the Compact & Program Implementation Document can be accessed from here:
Ghana Compact IINewsletter
- 2nd December, 2019MiDA Newsletter, Vol 3 Issue 2
- 29th March, 2019MiDA Newsletter, Vol 3 Issue 1
- 30th September, 2018MiDA Newsletter, Vol 2 Issue 4
- 29th June, 2018MiDA Newsletter, Vol 2. Issue 3
- 30th March, 2018MiDA Newsletter, Vol. 2 Issue 2
- 29th December, 2017MiDA Newsletter, Vol. 2 Issue 1
- 30th June, 2017MiDA Newsletter, Vol.1 Issue 4
- 16th December, 2016MiDA Newsletter, Vol.1 Issue 3
- 30th June, 2016MiDA Newsletter, Vol.1 Issue 2
- 1st February, 2016MiDA Newsletter, Maiden Edition
Stakeholder Consultations
Workshops
- 22nd March, 2017MiDA/MCC PROCUREMENT GUIDELINES WORKSHOP HELD
- 9th September, 2015SECOND POLICY DECISION MAKERS WORKSHOP FOR PSP TRANSACTION IN ECG
- 1st January, 1970Development and Enforcement of Standards and Labels Activity
- 1st January, 1970Improved Energy Auditing Activity
- 1st January, 1970Education and Public Information Activity
- 1st January, 1970Demand Side Management Infrastructure Activity
