Corrupt, Yenkyendi And Cronyistic Actions Of Akufo-Addo Caused $190m Loss In PDS Scandal – Mahama

Former President John Dramani Mahama has expressed disappointment at the loss of $190 million meant for private sector participation in electricity distribution under the US Millennium Compact.

In a Facebook post, the flagbearer of the National Democratic Congress (NDC), said the ‘corrupt, ‘yenkyendi’, and cronyistic governance practices’ spearheaded by President Nana Addo Dankwa Akufo-Addo and Vice President Dr. Mahamudu Bawumia led to the loss of the $190m US Millenium compact.

The former president pledged that he “will work diligently to enhance private sector efficiency in the electricity distribution system, including metering, revenue management, and fault response,” when he is reelected as president in the upcoming December 7 general elections.

He also promised to “ensure a thorough investigation of the PDS [Power Distribution Services] scandal to hold those involved accountable.

The Power Distribution Services (PDS) Ghana Limited takeover was a controversial deal that saw the Ghanaian government award a 25-year concession to PDS to manage the Electricity Company of Ghana (ECG).

The deal was signed in March 2019 but was suspended in July 2019 following allegations of fraud.

In March 2019 the Ghana government was on the verge of receiving crucial funding of some $190 million aimed at the long-term sustainability of related infrastructure investments and financial recovery of the energy sector as part of a second tranche of the MMC power compact.

However, owing to the cancelled concession agreement with Ghana’s Power Distribution Services (PDS), where PDS was to assume the operation and management of the staff and assets of the Electricity Company of Ghana (ECG), the US government halted the transfer of the funds, stating that private sector participation was a central reform under MCC’s Ghana Power Compact.

Below is the full statement.

Dear fellow Ghanaians,

It’s disheartening to learn that the $190 million we negotiated for private sector participation in electricity distribution under the US Millennium Compact has been lost due to Nana Addo and Bawumia’s corrupt, ‘yenkyendi’, and cronyistic governance practices.

This is unacceptable, and we deserve better as a people.

As I gear up to assume the presidency in January 2025, thanks to your votes and endorsement in this year’s election, I want to assure you that I will work diligently to enhance private sector efficiency in the electricity distribution system, including metering, revenue management, and fault response.

My administration will prioritise accountability and ensure a thorough investigation of the PDS scandal to hold those involved accountable.

We can work together to build a brighter future for Ghana’s power sector that benefits citizens and businesses.

Let’s stand together, fight against corruption and cronyism, and work towards building the Ghana we want.

#LetsBuildGhanaTogether
#Mahama4Change2024