Ghana government $580m power deal plus PDS fall water inside
Government of Ghana terminate dema concession agreement plus Power Distribution Services (PDS) afta dem take over de country power sector.
Ghana give PDS control over de power sector around March dis year afta massive losses under state owned Electricity Company of Ghana (ECG).
- Ghanaians go pay more for calls, electricity den water tariffs from today
- Ghana traders start dey cry foul afta Nigeria close dema border
De concession agreement between Ghana newly introduced private manager, PDS for last 20 years but dis plan fall water inside.
In 2014 Ghana sign agreement plus Millennium Challenge Compact who dey act on behalf of de Government of the United States so say private sector investment go enter de power sector.
After de concession agreement, PDS main target be say dem go improve electricity supply services den profits which dey suffer massive debt issues under state owned ECG.
But government suspend de concession agreement around July dis year afta dem discover say demand guarantees wey dem present be fake.
According to letter wey Finance Minister, Ken Ofori-Atta write to Millennium Challenge Corporation, "de notarised den stamped Payment Security by PDS to MiDA give ECG by Al Koot dey amount to false declaration and misrepresentation of facts."
"Dis dey violate de representations and warranties by PDS…sake of that ECG den Government of Ghana no get any option than to terminate de LAA and BSA as well as the GSA respectively" he add.
Ghana government talk Millennium Challenge Corporation (MCC) say dem go like do restricted tender process take replace PDS before December 31, 2019.
Ghana decide say dem go allow private sector participation for de power sector afta de kontri suffer massive power crisis 'dumsor' four years ago which affect de Ghanaian economy.