Alex Mould is the Acting CEO of Ghana’s Millennium Development Authority (MiDA), a creation of the Millennium Challenge Corporation by the U.S. Congress in January 2004 with strong bipartisan support.<\/p>\n
The MCC partners with the world\u2019s poorest countries that are committed to just and democratic governance, economic freedom and investing in their populations. MCC provided time-limited grants promoting economic growth, reducing poverty, and strengthening institutions.<\/p>\n
These investments in core infrastructure and policy and institutional reforms are key interventions that are expected to benefit nearly 400 million people across 47 countries. MCC investments support stability and prosperity in partner countries all while furthering American interests. With cost-effective and transparent projects, a lean staff, and an evidence-based approach.<\/p>\n
Ghana benefited from two Compacts with the \u2018Ghana Compact\u2019 focused on investment to raise farmers\u2019 incomes through private sector-led agribusiness development and major public works projects from 2007 \u2013 2012. Also, the Ghana Power Compact, which ended abruptly in June 6, 2022 due to a corruption-bridled power concession agreement initiated and implemented by the erstwhile President Akufo Addo administration where Ghana lost the US$190 million funds granted for the 20-year concession between the Electric Company of Ghana Ltd (ECG) to private operator Power Distribution Services Ghana Ltd (PDS) a necessary condition as part of the Ghana Power Compact.<\/p>\n
The only MCC running program is the Tranche I funds of US$308 million which supports improvements to the infrastructure of Ghana\u2019s southern distribution network, increase reliability and power access to key markets, and advance energy efficiency programs.<\/p>\n
However, Ghanaians woke up three days ago to the sour news that Ghana is ineligible to receive foreign assistance for the Financial Year 2026 from the United States under the MCC pursuant to the debt default restriction in section 7012 of the Financial Year 2025 SFOAA, pending a debt restructuring agreement as captured in the Millennium Challenge Corporation Candidate Country Report for Fiscal Year 2026.<\/p>\n
The report stated that \u201cGhana is ineligible to receive foreign assistance pursuant to the debt default restriction in section 7012 of the FY [Financial Year] 2025 SFOAA pending a debt restructuring agreement\u201d.<\/p>\n
It added that “Ghana is among 18 countries that would be considered candidate countries for purposes of eligibility for MCC compact assistance for FY 2026 but are ineligible to receive United States economic assistance under part I of the Foreign Assistance Act”.<\/p>\n
This is based on legal prohibitions against economic assistance that apply as of August 6, 2025.<\/p>\n
The report continued that “Countries identified above as candidate countries, as well as countries that would be considered candidate countries but for the applicability of legal provisions that prohibit U.S. economic assistance, may be the subject of future statutory restrictions or determinations, or changed country circumstances, that affect their legal eligibility for assistance under part I of the Foreign Assistance Act by reason of application of the Foreign Assistance Act or any other provision of law for FY 2026”.<\/p>\n
Other countries ineligible to receive the foreign assistance under the MCC are Burma, Burkina Faso, North Korea, Syria, Sri Lanka, Venezuela and Zimbabwe.<\/p>\n
This news came as a double slap in the face of the new CEO of MiDA, as all sources of funding to his office will be cut in next year.<\/p>\n
One will wonder how Mr Mould run his office which had its board inaugurated fortnight ago with a call from the Chief of Staff, Hon Julius Debrah, impassioning the newly appointed members of the board to rally behind the organization\u2019s CEO in propelling the authority\u2019s objectives to unprecedented heights.<\/p>\n
Lauding Mr Mould as \u201cvery innovative and progressive,\u201dMr. Debrah underscored the crucial role MiDA plays in the government\u2019s overarching development agenda.<\/p>\n
Ultimately, MiDA is expected to provide visionary leadership and oversight to MiDA, aligning its efforts with the government\u2019s development priorities.<\/p>\n
Just as the stage was set for synergistic endeavors to drive progress and attain Ghana’s development aspirations, there comes the sad news from the U.S government.<\/p>\n
Now, the survival of MiDA is a sole responsibility of Mr Mould\u2019s ingenuity, tactical decisions and leveraging his financial expertise to attract new funding sources as well as refocusing the objectives and mandate of the Authority.<\/p>\n
Left with the agony of dried coffers and no running initiative, Mr Mould sits on the edges of the roof possibly thinking of either to jump down forcefully by closing the office or get up to walk on the slippery iron sheet to ascend to a new height.<\/p>\n
In the midst of hallowing around the future of MiDA, many have confidence in the abilities, skills and integrity of Mr Mould to chart a new path for the survival and rebranding of MiDA.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Alex Mould is the Acting CEO of Ghana’s Millennium Development Authority (MiDA), a creation of the Millennium Challenge Corporation by the U.S. Congress in January 2004 with strong bipartisan support. The MCC partners with the world\u2019s poorest countries that are committed to just and democratic governance, economic freedom and investing in their populations. MCC provided<\/p>\n","protected":false},"author":3,"featured_media":8735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2443,2570],"class_list":{"0":"post-8729","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-and-finance","8":"tag-electricity-company-of-ghana-ecg","9":"tag-millennium-development-authority-mida"},"yoast_head":"\n