No Result
View All Result
Saturday, August 20, 2022
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories
    Accra, GHANA: A woman holds 03 July 2007 in Accra a wad new currency, the new cedi, that Ghana put in circulation that day, although the old money will still be valid until the end of the year. Currently, the cedi is one of the least valued currencies in Africa: 9000 cedis equal one US dollar.   Ernest Addison, head of research at the Bank of Ghana, assured in November 2006 that the changeover was not a revaluation nor devaluation, and will not affect foreign exchange.  AFP PHOTO / ISSOUF SANOGO (Photo credit should read ISSOUF SANOGO/AFP/Getty Images)

    Local currency crosses ¢10 to one dollar mark on retail market

    VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

    VADUG members resist implementation of Customs Amendment Act

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Cost of credit to further go up as Bank of Ghana raises policy rate to 22%

    PURC justifies upward review of utility tariffs

    Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    BoG, UG partner to improve research in Ghana’s financial sector

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

    VADUG members resist implementation of Customs Amendment Act

    Cost of credit to further go up as Bank of Ghana raises policy rate to 22%

    Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    BoG, UG partner to improve research in Ghana’s financial sector

    BoG, EOCO deepen collaboration to build robust financial sector

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

  • TECHNOLOGY

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

    Extend SIM card re-registration exercise to January 2023 – MoMo agents

    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

    PayAngel joins Microsoft for Startups Founders Hub

    Node 8, HTU hold first edition of Node X in Ho

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories
    Accra, GHANA: A woman holds 03 July 2007 in Accra a wad new currency, the new cedi, that Ghana put in circulation that day, although the old money will still be valid until the end of the year. Currently, the cedi is one of the least valued currencies in Africa: 9000 cedis equal one US dollar.   Ernest Addison, head of research at the Bank of Ghana, assured in November 2006 that the changeover was not a revaluation nor devaluation, and will not affect foreign exchange.  AFP PHOTO / ISSOUF SANOGO (Photo credit should read ISSOUF SANOGO/AFP/Getty Images)

    Local currency crosses ¢10 to one dollar mark on retail market

    VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

    VADUG members resist implementation of Customs Amendment Act

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Cost of credit to further go up as Bank of Ghana raises policy rate to 22%

    PURC justifies upward review of utility tariffs

    Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    BoG, UG partner to improve research in Ghana’s financial sector

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

    VADUG members resist implementation of Customs Amendment Act

    Cost of credit to further go up as Bank of Ghana raises policy rate to 22%

    Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    BoG, UG partner to improve research in Ghana’s financial sector

    BoG, EOCO deepen collaboration to build robust financial sector

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

  • TECHNOLOGY

    MTN Ghana introduces voucher distribution denomination change to prevent price disparity

    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

    Extend SIM card re-registration exercise to January 2023 – MoMo agents

    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

    PayAngel joins Microsoft for Startups Founders Hub

    Node 8, HTU hold first edition of Node X in Ho

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

MiDA trains local firms for MCC Compact II

bycitibusinessnews
May 30, 2017
in Government, Local Economy, Top Stories
Ing. Owura Safo

Ing. Owura Safo

Share on FacebookShare on TwitterShare on Whatsapp

The Millennium Development Authority (MiDA) has organized a training workshop for companies seeking consultancy jobs Millennium Challenge Compact II.

The training is part of  a series of  event aimed at selecting consultancy firms to undertake different activities under the Compact II.

Speaking to journalists at the sidelines of the workshop, the Chief Executive Officer of MiDA, Ingineer Owura Safo explained that the event is targeted at equipping local consultancy firms to favorably compete with others who will be taking part globally.

ADVERTISEMENT

“We don’t want the situation where people put in bids, and put bids and they are not winning because they are not meeting the requirements, and when they don’t meet the requirements it doesn’t help us,” he said.

“Our intention is that by having this particular workshop, all bidders, particularly Ghanaians will know how to submit proposals and that these proposals will be complaint and will meet our requirements so that they will enhance their chances of winning,” he added.

Disclosing some submissions that did not meet the requirement, Ing. Safo stated that many Ghanaians did not meet the standard.

“We have received a number of submission since we started and a number of them did not meet the requirement. In fact submission from a number of Ghanaian companies did not meet the minimum threshold,” he noted.

Ing. Safo explained that there are strict standards that must be met hence the decision to undertake the training to equip Ghanaians.

“When we are talking about consultancy there is technical proposal and there is financial proposal , you need to meet a certain basic threshold. Our basic threshold is 80 percent and a number of submissions do not meet the 80 percent and some of these are Ghanaians. We are hoping that this will address the issue for us,” he said.

Six concessionaires at first bidders’ conference

The first Bidders’ Conference on the concession for the Private Sector Participation (PSP) in the electricity distribution business of the Electricity Company of Ghana (ECG) was held in Accra.

The ECG PSP transaction is one of five activities under the ECG Financial and Operational Turnaround Project funded through the Ghana Power Compact.

The six concessionaires are Manila Electric Company from Philippines, CH Group from Ghana, Engie Energie Services from France, BXC Company from Ghana, Enel S.P.A from Italy and TATA  Power Company Limited from India.

About the ECG PSP Transaction

The Government of Ghana signed the Ghana Power Compact with the Millennium Challenge Corporation (MCC), an independent United States government foreign aid agency, on August 5, 2014.

The Ghana Power Compact provides Ghana a grant of Four Hundred and Ninety Eight Million, Two Hundred Thousand United States Dollars (US$498,200,000) to improve the performance of Ghana’s power sector to unlock the country’s economic potential, create jobs, and reduce poverty.

The Government of Ghana is committing at least US$37.4 million of its own money.

The major project under the Ghana Power Compact is the Electricity Company of Ghana (ECG) Financial and Operational Turnaround Project, which is designed to transform ECG into an efficient and financially strong institution through private sector participation (PSP). About US$351 million of the MCC grant is being invested in ECG.

The project seeks to bring about private sector participation in investments into, as well as the management and operation of, the ECG through a concession arrangement.

Under the concession a private partner will invest in ECG and improve its operations to reduce commercial and technical losses, reduce the frequency and duration of outages, introduce new equipment and technology, and reduce the vulnerability of the distribution system to theft and meter manipulation.

The Compact is being implemented by the Government of Ghana through the Millennium Development Authority (MiDA). 

About MiDA

MiDA is a Ghana government agency created in 2006 by an Act of Parliament. The Authority has been mandated by the Government of Ghana to implement the Ghana Power Compact, which seeks to address the root causes of the current problem of unreliable power supply in the country.

–

By: Lawrence Segbefia/citibusinessnews.com/Ghana

Related Posts

Accra, GHANA: A woman holds 03 July 2007 in Accra a wad new currency, the new cedi, that Ghana put in circulation that day, although the old money will still be valid until the end of the year. Currently, the cedi is one of the least valued currencies in Africa: 9000 cedis equal one US dollar.   Ernest Addison, head of research at the Bank of Ghana, assured in November 2006 that the changeover was not a revaluation nor devaluation, and will not affect foreign exchange.  AFP PHOTO / ISSOUF SANOGO (Photo credit should read ISSOUF SANOGO/AFP/Getty Images)
Local Economy

Local currency crosses ¢10 to one dollar mark on retail market

byNerteley Nettey

The local currency has crossed the ¢10 to one dollar mark on the retail market. A visit by Citi Business...

Read more

VEPEAG, GAVEX partner to boost vegetable production, exports in Ghana

VADUG members resist implementation of Customs Amendment Act

AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

Cost of credit to further go up as Bank of Ghana raises policy rate to 22%

Emergency MPC meeting: Goldman Sachs projects 200 basis points hike in policy rate

BoG, UG partner to improve research in Ghana’s financial sector

Next Post
Economist Dr. Lord Mensah

Response to energy bond to determine investor confidence - Economist

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.