Business News of Tuesday, 4 February 2020Source: www.ghanaweb.comToday in 2018: Ghana spent US$24 billion to fix erratic power situation - US AmbassadorRobert Jackson, former US Ambassador to GhanaIn 2018, the former United States of America Ambassador to Ghana, Robert Jackson, disclosed that Ghana spent a whopping US$24 billion to resolve its erratic power disruption known as ‘dumsor’ in the country. To transform the ailing power sector, Robert Jackson revealed that the US government was investing US$498 million under the second Millennium Challenge Compact agreement. He said US government's Power Africa Initiative formed part of efforts by America to help Ghana achieve its vision to develop a strong and efficient power sector. Under the second Millennium Challenge Compact, he said, the US government was investing 498 million dollars to transform Ghana's power sector. 'Part of that 498 million dollars includes nearly 66 million dollars to develop NEDCo [Northern Electricity Distribution Company] into an efficient and self-sustaining power utility - one that can spearhead economic growth in Northern Ghana,' he said.

Source: GhanaWeb February 04, 2020 14:26 UTC