PDS Scandal: The totality of our loss is the mess we seen in the power sector today – Ben Boakye

The Executive Director of the African Centre for Energy Policy (ACEP), Benjamin Boakye has disclosed that the $192 million lost as a result of the PDS Scandal in 2019 is just the tip of the iceberg.

Ghana in March 2019 was set to receive critical funding amounting to approximately $190 million aimed at bolstering the long-term sustainability of infrastructure investments and facilitating the financial recovery of the energy sector under the US Millennium Compact project.

However, the disbursement of funds was halted following implications arising from a failed 20-year concession agreement involving Ghana’s Power Distribution Services (PDS).

In a development, the Millennium Challenge Corporation (MCC) has been closed, ultimately meaning that the state is losing out on at least $190 million.

Sharing his thoughts on the matter, Ben Boakye has indicated that the financial loss is only the tip of the iceberg.

According to him, the implications of the loss are what has created a mess for the country’s power sector.

“MiDA was a significant part of the problem; Ghana had to lose so much when it decided to subsume operational decisions under overt and covert political manipulation. $192m is the tip of the iceberg. The totality of our loss is what we see in the power sector today; a mess,” the Executive Director of ACEP said in a post on X.