The government is reviewing the Millennium Challenge Corporation (MCC) Power Compact II agreement on the concession of the Electricity Company of Ghana (ECG) to ensure job security, majority Ghanaian ownership and reduction of the agreement term from 25 to 20 years, President Nana Akufo-Addo has said.
He said: "We have stated that we are taking a second look at the ECG compact.
"We are driven by two consideration. We are as concerned as the workers that the reform should not lead to involuntary job loses and we should find a long term solution to the nation's electricity problem.
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"In this regard, [the] government is amending the terms of the agreement of the concession agreement to require that: 1. Ghanaians own at least 51 percent of the concession. 2. There should be no involuntary layoffs as the result of the concession. 3. The term of the concession will be reduced fro 25 to 20 years.
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"We believe that these amendments meet the aspirations of Ghanaians in protecting the jobs of workers and ensuring the control and viability of the ECG."
The agreement has gathered strong opposition from the Trades Union and The Public Utilities Workers Union who argue that the concession is not in the interest of Ghana.
Their key concern is that many ECG staff will be fired when ECG is privatized.