24 January 2013

Ghana: MCC's Yohannes at Ghana's Compact Development Event

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Opening Remarks at Private Sector Event for Ghana's 2nd Compact Development

Good morning, and welcome to the Millennium Challenge Corporation! I see some familiar faces among us, so I am pleased that you - members of the business community - are with us again to continue this important conversation.

And many thanks to IGD and CCA for their ongoing support during this process.

I'd also like to welcome a special guest: Ghana's ambassador to the United States, Ambassador Daniel Ohene Agyekum. Thanks for being here and for your support.

As someone who spent over 30 years in banking, I know how key your role is to achieving and sustaining economic growth and prosperity. That is why I wanted to stop by and let you know that we appreciate your participation; we value your feedback; and we succeed when you succeed.

Here at MCC, our mission is global poverty reduction through economic growth. Reaching that goal requires actively engaging and partnering with you. Private enterprise, after all:

- creates jobs,

- offers new products and services,

- leads innovation, and, ultimately,

- drives economic growth.

A year ago, we came together to start exploring opportunities for collaboration in Ghana. As an MCC partner country, Ghana completed its first MCC compact and qualified for a second compact. The incredible insights you have provided so far have played a tremendous role in driving the direction of Ghana's second compact.

Today, we are seeking your expertise and advice again. MCC is committed to a comprehensive process that closely coordinates with companies like yours right from the start as we work with partner countries to develop and implement their compacts.

Now the process continues with the receipt of concept papers from the Ghanaians. These concept papers outline what they envision for Ghana's second compact, focused in the energy sector. What we need now are your views on the strength of these concepts.

Your feedback will allow us to go back to the Ghanaian government with credible guidance for what will make a sustainable difference.

Your voice will make sure that the private sector has a place in Ghana's compact and in sustaining the proposed investments.

We appreciate your time and effort in reviewing these concept papers. We know that your ideas will make this compact more effective and efficient.

Make no mistake about this: MCC is committed to listening to your views and concerns and to others in the business community and civil society. We heard you in the past, and we continue to listen to you as we move ahead.

By working together, we can showcase the power of private enterprise in each and every MCC partner country, including Ghana. Let's keep talking!

Many thanks again for being here, and I wish you a very productive morning on the reviews at hand.

- As prepared by Daniel W. Yohannes, Chief Executive Officer

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