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It is now certain that an American Company is most likely to be given the Electricity Company of Ghana (ECG) to run for the next 20 to 30 years solely for private profit.

This is a condition for government of Ghana to access the US Millennium Challenge Account of US $500 million.

Government and its spokesperson have been at pains to explain that what is happening is not privatization of the ECG.

They insist that the shareholding structure of ECG will not change and that the company would only be handled over as a concession to another private entity.

For the period of the concession the ECG will be managed and fully controlled by the private entity only for private profit.

The Government of Ghana signed the Ghana Power compact with the US Millennium Challenge Corporation (MCC) an independent US government agency on August 5, 2014.

According to Owura Sarfo Chief Executive Officer of MIDA, the private entity would help transform ECG by providing it with updated technology to make it more efficient.