$2bn secured to finance Accra-Kumasi Expressway, no borrowing involved – President Mahama

President John Dramani Mahama has announced that $2 billion has been secured to finance the construction of the Accra-Kumasi Expressway, assuring that funding will not delay the project once construction begins.

The President said the funds, sourced from taxpayers, have been placed in a dedicated account at the Bank of Ghana to facilitate prompt payments to the contractor throughout the project. He said the government intends to settle certificates presented by the contractor on time to prevent interruptions to construction.

“This is our own money. We have not gone to borrow money from anywhere. This money is the taxpayers’ money,” President Mahama said at the handover ceremony of the 175.6-kilometre cleared right-of-way for the project on Monday, September 14.

Finance Minister Dr Cassiel Ato Forson has separately assured that the full amount required for the project will be available by December 31, 2026, with government maintaining that no borrowing will be undertaken to finance the expressway.

President Mahama has also directed the Roads and Highways Minister to include the Ghana Armed Forces Engineers Regiment as a major subcontractor to the main contractor.