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PDS Scandal: Mahama Slams Nana Addo, Bawumia ‘Corrupt’ Governance for $190M Loss

In March 2019, Ghana was about to receive funding of around $190 million. This finding was meant to help keep infrastructure investments going and help the energy sector recover financially. It was part of a second instalment of funding from the MMC power compact.

The flagbearer of the National Democratic Congress has attributed the Nana Addo-Bawumia government as the cause of the loss of the $190 million meant for private sector participation in electricity distribution under the US Millennium Compact.

The former president took to his X [formerly Twitter] account today, May 10, to express his disappointment at the government, labelling it as ‘corrupt, ‘yenkyendi’, and cronyistic’ governance.


Read also: https://theaccratimes.com/kpmg-report-majority-shuts-down-calls-to-make-report-public/

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“It’s disheartening to learn that the $190 million we negotiated for private sector participation in electricity distribution under the US Millennium Compact has been lost due to Nana Addo and Bawumia’s corrupt, ‘yenkyendi’, and cronyistic governance practices,” he stated.

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While lamenting the failure to keep the deal active, he also pledged to work assiduously when voted into power to improve power distribution within the private sector and place a premium on accountability.

“As I gear up to assume the presidency in January 2025, thanks to your votes and endorsement in this year’s election, I want to assure you that I will work diligently to enhance private sector efficiency in the electricity distribution system, including metering, revenue management, and fault response,” he added.

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In March 2019, Ghana was about to receive funding of around $190 million. This finding was meant to help keep infrastructure investments going and help the energy sector recover financially. It was part of a second instalment of funding from the MMC power compact.

But because of a failed 20-year deal with Ghana’s Power Distribution Services (PDS), where PDS was supposed to take over running the Electricity Company of Ghana (ECG), the US government stopped the money from being sent. They cited that having private companies involved was a key part of the reforms in the Millennium Challenge Corporation’s (MCC’s) Ghana Power Compact.

In March 2019, Ghana was about to get important funding of around $190 million. This money was meant to help keep infrastructure investments going and help the energy sector recover financially. It was part of a second instalment of funding from the Millennium Challenge Corporation (MCC) power compact.


Read also: E-VAT: Ghana Moves Closer to a Modernized Tax System


But because of a failed 20-year deal with Ghana’s Power Distribution Services (PDS), where PDS was supposed to take over running the Electricity Company of Ghana (ECG), the US government stopped the money from being sent. They said that having private companies involved was a key part of the reforms in the MCC’s Ghana Power Compact.

Find the statement below:

 

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