US Millennium Compact: It's disheartening for Ghana to lose $190 million power deal due to Akufo-Addo’s cronyistic governance — Mahama

Former President and 2024 NDC flagbearer John Mahama has accused the government of driving away a $190 million US power deal due to corruption and cronyism.

In a Facebook post on Friday, May 10, Mahama lamented Ghana’s loss of funding for electricity distribution reforms from the US Millennium Challenge Corporation (MCC) grant.

He said it is due to "Nana Addo and Bawumia's corrupt, 'yenkyendi', and cronyistic governance practices."

The $190 million grant was part of a second tranche of MCC funding aimed at expanding private sector participation in Ghana's electricity distribution sector and helping recover costs in the energy industry.

However, the deal was halted after a botched 20-year concession with Power Distribution Services Ghana Limited to manage the state power utility.

"This is unacceptable, and we deserve better as a people," Mahama said, noting the country's resurgent power crisis.

The former President pledged to investigate the PDS scandal fully if elected in 2024.

He also vowed to enhance private sector efficiency in metering, billing and fault response.

The loss of the MCC deal deals a big blow to efforts to address Ghana's severe power problems.

It comes after the Public Utilities Regulatory Commission revealed ECG is defaulting on over $40 million in monthly payments to independent power producers.

The MCC has also confirmed that Ghana is no longer a priority for immediate support, dashing hopes of fresh funding amid growing debt in the energy sector exceeding $1.5 billion.