President John Dramani Mahama has disclosed that $2 billion has been set aside to finance the construction of the Accra-Kumasi Expressway, assuring that funding will not be a challenge once work begins.
He said the money, which is taxpayers’ funds, has been placed in a special account at the Bank of Ghana and will be used to ensure prompt payment to the contractor throughout the project.
Speaking at the handover ceremony of a 175.6-kilometre right-of-way cleared by the Ghana Armed Forces on Monday, September 14, President Mahama said all certificates presented by the contractor will be paid promptly to prevent delays in construction.
The President also directed the Minister for Roads and Highways to incorporate the Ghana Armed Forces Engineers Regiment as a major subcontractor to the main contractor for the expressway.
President Mahama stressed that the funding was sourced domestically and did not involve borrowing.
“And let me also announce that this is our own money. We have not gone to borrow money from anywhere. This money is the taxpayers’ money,” he stated.
However, Finance Minister Cassiel Ato Forson has assured that the entire amount required for the construction of the Accra-Kumasi Expressway will be ready by December 31, 2026, stressing that government will not borrow to finance the project.
This follows the completion of 175.6 kilometres of right-of-way cleared by the military for the project in 19 weeks, one week ahead of the scheduled 20-week timeline.
