Ghana's Energy Woes To Be Over Soon

Ghana's energy woes may be over sooner than expected as the country is set to benefit from a $498 million investment earmarked to boost the production and supply of energy in the country.

The investment, which is the second compact under the auspices of the US government's bilateral foreign aid agency, Millennium Challenge Corporation will be the second for Ghana after an earlier $547 million received to construct the N1 Highway popularly known as the George Walker Bush Highway as well guinea worm eradication projects in parts of Northern Ghana among other developmental projects.

President of Ghana, John Dramani Mahama who is currently in the US state of Washington to attend the US-African Leaders Summit will together with US Secretary of State, John Kerry witness the signing of the agreement later on Tuesday. The second compact is to tackle the challenge of inadequate and unreliable power supply that has bedeviled the country's energy sector.

Meanwhile, Ghana's Energy Minister Hon. Emmanuel Armah Kofi Buah has expressed optimism the investment will enable Ghana overcome its energy woes.

Ghana is among the over 40 countries in the world to benefit from the MCC's monetary investment.