Ghana is likely to become one of the most efficient power producers in Africa by 2020.
This is according to President John Mahama.
Speaking at the ongoing Global African Investment Summit in London,UK, Prez Mahama said he is optimistic Ghana will have the most efficient power sector in Africa after the Millennium Challenge Compact (MCC)11 on power is rolled out.
The millennium challenge compact is expected to take off by next year.
It is a five year program that will concentrate on the county’s power sector.
President Mahama who attributed the ongoing erratic power supply in the country to the growing economy said the private sector must get more involved in developing the sector.
“The growing economy is the cause of our blackouts, there are many innovative ways we can deal with this. We are likely to become one of the most efficient power producers in Africa after the Millennium Compact 2. We need to get the private sector in the sector”
The Global African Investment Summit is a platform that brings together public and private sectors to discuss specific transactions, access to finance and bankable projects in Sub-Saharan Africa.
African heads of states including Prez Mahama of Ghana, Paul Kigame of Rwanda, Yoweri Museveni of Uganda, Mizengo Pinda of Tanzania, finance ministers, CEOs of state owned enterprises among others are in attendance to address and hear from global financial markets, project implementers, consultants and law firms about co-financing and executing the most pressing projects in agri -business, natural resources, power, transport and infrastructure.
By: Vivian Kai Mensah/citifmonline.com/London,UK