Business News of Tuesday, 14 March 2017
President Akufo-Addo yesterday swore in the newly constituted Board of the Millennium Development Authority (MiDA).
MiDA was established by an Act of Parliament (Act 702, 709 & 897 as amended) with the aim of overseeing, managing and implementing the programmes under the Millennium Challenge Account for poverty reduction through economic growth as set out in each agreement between the Government of Ghana (GoG) and the Millennium Challenge Corporation, acting for and on behalf of the Government of the United States of America.
It also aims at overseeing any other national development programme of similar nature funded by the Government of Ghana, a development partner or both, and to provide for related matters.
The new MiDA Board is chaired by Professor Yaa Ntiamoah-Badu, with six government ministers, including the Minister of Finance and Economic Planning, Ken Ofori-Atta; Minister for Trade and Industry, Alan Kwadwo Kyerematen; Minister for Energy, Boakye Agyarko; Attorney General and Minister for Justice, Gloria Akuffo and their colleague Ministers for Gender, Children and Social Protection and Business Development, Otiko Afisa Djaba and Awal Mohammed respectively.
The rest are the Chief Executive Officer (CEO) of the Authority, Engineer Owura Kwaku Sarfo, with Dr Samuel Kwabena Desouza representing the Private Enterprises Foundation (PEF) and Humphrey Ayim Darko Dake, representing the Association of Ghana Industries (AGI), Ghana Association of Private Voluntary Organisations in Development – which has proposed a new representative.
Non-voting members of the Board would include the Chairman for ECG, that of NEDCO and the resident Country Director of the Millennium Challenge Corporation, Deidra Fair James.
When the newly constituted Board was being sworn in yesterday at the Flagstaff House, President Akufo-Addo talked of plans by his government to resolve the erratic power supply, popularly called ‘dumsor’ that is affecting businesses in the country.
The second compact of MiDA, according to the president “is to enable us to overcome one of the major challenges that we have to the development of our country; that is the flow of reliable, stable power, both for our economic and personal development.”
He maintained that “our interest is making sure that this compact that we have adhered to is implemented and that it is successfully implemented and the people of Ghana will benefit from that exercise.”
Considering the fact that his government took office not too long ago, he indicated that “we believe it is necessary for us to have a look at what is on the table and make sure that the various challenges that there are for the progress of the compact are addressed.”
“There is a major task before you, which is to resolve the critical part of this compact which is the private sector solution to the development of the Electricity Company of Ghana (ECG), which is on the table,” he charged the members of the Board.
He indicated government’s plan to roll out a comprehensive plan on how they are going to bring an end to the energy crisis facing the country.
The Authority and Board have thus been tasked to ensure that the objectives of the compact as signed between the Millennium Challenge Corporation (MCC) and the Government of Ghana are achieved.
Thanking the president, Professor Ntiamoah-Badu admitted, “This is indeed a huge task, but we will deliver.”
“We have challenges that we need to resolve to move our country forward, the Board will do everything it can to make it work.
“Whatever it takes to deliver, we will deliver to ensure that MIDA achieves its goals and successfully operates this compact…we will not let you down.”