Ghana’s Power Sector on the steady rise
By 2020 it’s expected that Ghana will become one of the most efficient power producer’s in all of Africa. Speaking at the Global African Investment Summit in London, the country’s president openly shares his enthusiasm as the nation embraces the true potential of it’s Power Sector, especially once the Millennium Challenge Compact II (MCC) is up and running.
The MCC will invest up to $498.2 million to support the transformation of Ghana’s power sector and stimulate private investment. The Ghana Power Compact is the largest U.S. Government transaction to date under Power Africa and will serve as an anchor for increased American engagement in Ghana. The MCC commences in 2015 and once this 5 year program rolls out, it’s expected that Ghana will become one of the most efficient power producer’s in all of Africa.
The president also expresses that given the context such as supplying power to the growing economy, the private sector must increase involvement in developing Ghana’s power sector.
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