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Business News of Thursday, 11 December 2014

Source: GNA

President Mahama inaugurates MiDA

President John Dramani Mahama on Wednesday inaugurated a nine-member Governing Board of the Millennium Development Authority, with a call on members to ensure judicious use of the funds of the Millennium Challenge Account (MCA).

He also called for the reviewing of fiscal accountability that would streamline the expenditure of the Authority.

The members of are; Mr John Jinapor, Deputy Minister of Energy, Mr Ato Forson, Deputy Minister of Finance, Dr Mustapha Ahmed, Minister of State and Nana Oye Lithur, Minister of Gender, Children and Social Protection.

The rest are; Kwabena Donkor, Prosper Adabla, George Ahadzi, Dr Oteng Gyasi and Mr Martin Eson-Benjamin, CEO of MiDA.

The government signed the second compact of $489 million of the MCA in August this year and the establishment of the board would facilitate the implementation of the programmes under the compact.

President Mahama said the second compact, which is expected to strengthen the energy and sectors of the country would subsequently make Ghana a net exporter of the commodity in the coming years.

He urged the Board to carry out their oversight responsibility on MiDA to carry out its mandate in the development of energy and power in succeeding years.

The President advised them to expedite their actions to enable the country to receive the first tranche of the compact.

Professor Sefah Dede, Chairman of the MiDA governing Board said the establishment of the body is crucial as the compact is time bound and therefore needed to be executed within a particular time frame.

He appealed to government to offer the board and Management of MiDA the necessary actions, decisions and finance that would enable them to perform professionally.

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