The Africa Centre for Energy Policy (ACEP) has called for the interdiction of the management to the Millennium Development Authority (MiDA).
According to ACEP boss, Benjamin Boakye, the management of MiDA- the implementing agency for Ghana’s Power Compact failed to choose a credible company to raise funds for the management of electricity in the country.
He further questioned the country’s ability to raise capital investments if even bank guarantees were an issue.
Mr Boakye revealed that, MiDA was given a length of five years and paid to $40 million to complete the task of which they failed.
He also blamed the situation on MiDA’s failure to open up the process for Ghanaians to own shares in PDS.
According to him, this prevented individuals with the capability of running the energy sector from getting on board.
According to the head of reforms at MiDA, the authority did eveyrthing that had to be done.
He their defence, he insisted that the guarantee, a prerequisite of the deal was given by PDS to ECG and not MiDA.
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