President of IMANI Africa, Franklin Cudjoe has cautioned the Akufo Addo government to urgently resolve issues with the Compact 2 agreement of the Millennium Challenge Account or face a possible withdrawal of the funds by the Trump administration of the US.
His comments come after President Akufo-Addo announced during his maiden State of the Nation address earlier this week that his government will undertake a possible review of the agreement.
The Compact 2 which contains the Ghana Power Compact has $498.2 million to be used to fight poverty by transforming the country’s energy sector.
The five-year compact, the largest U.S. Government transaction under Power Africa, is also expected to stimulate billions of dollars in private energy investment.
But speaking on The Big Issue on Saturday, Franklin Cudjoe said, the government should act quickly to make sure that the country does not lose the money.
“the MCCA, if we joke and Trump gets to hear that an African country is sitting somewhere and they have $500 million free money to restructure the energy sector, he will withdraw it.”
“Some will ask, is it free money? Of course not, if the economy works well, for geopolitical purposes, they are happy so you don’t want to be seen as there must be a direct benefit before you say there must be something bigger than this.”
“Don’t forget for the first compact we did well and it was useful. Very purposeful intervention. Given the current situation in America where you have a no-nonsense president who is looking into ways and means to create jobs for America [we shouldn’t be seen to be further delaying],” he said.
Compact 2 agreement signed
Ghana and the Millennium Challenge Corporation (MCC) of the US government in October 2016 signed the second Compact worth $498 million.
The agreement brought to total $1.4 billion received by the government to be injected into the country’s energy sector and among other specifics make the Electricity Company of Ghana more efficient.
Some staff of ECG expressed fears they would be laid off amidst rumours of the privatisation of the company, but the Chief Executive of the Millennium Challenge Corporation (MCC), Dana Hyde in an interview insisted that the company will not be privatised but be strengthened to work more efficiently.
She added that key elements of the private sector participation in the ECG will not result in electricity tariff hikes and the transactions guaranteed jobs for five years.
Source: Citifmonline.com
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I think Franklin has taken a brown envelope from MIDA. who cares if Trump withdraws the Compact when no proper due diligence is done without taking into account of the fears of the staff of ECG. Mr President, don't mind him, review the agreement and ensure that no one comes to Ghana to carry syphone our money to other countries. why not target the generation problems facing the country, but rather interest in the revenue collection agency? i smell something here oo....!
Franklin Kudjo has gotten a vote yet because of wickedness opted not to vote so as not to be able to talk and debate national issues. it seems he is no more credible as he has reneged on his promise. To be credible, he should go back into time and VOTE on December 7, 2016. SHAAAAAAAAMMMMMEEEEEE!
But per your Facebook posts over the past year you've been an ardent Trump supporter. I don't think you know why yourself! Now that that disaster has been inaugurated you're dancing side step and abandoning the sinking ship?
Loud mouth Franklin Kudjo what do you hope to achieve? Dont you know that Trump has secret services who send him information? If you really care about Ghana you shouldnt put this in public. Dont forget that The NPP was the party who brought this compact to ghana during president Kufour's era and they have competent men to handle the situation so shut your mouth up. Attention seeking man
Go and see USA now media war has as White start choose and pick the media they want broadcast the mission of Presidency. We are joking here . Even Senior Republicans are seeing Dictator in the white house.
Franklin doesn't know anything but the media gives him so much attention Are you saying the Trump know this? Give us a break