President John Dramani Mahama says the government has secured US$2 billion to finance the construction of the Accra-Kumasi Expressway, insisting that the project will be funded without new borrowing.
The President said the money, sourced from taxpayers, has been placed in a dedicated account at the Bank of Ghana to ensure contractors are paid promptly once construction begins.
Mr Mahama made the announcement on Monday, September 14, during the handover of 175.6 kilometres of cleared right-of-way for the proposed expressway.
“This is our own money. We have not gone to borrow money from anywhere. This money is the taxpayers’ money,” the President said.
He said the government intends to pay certificates submitted by the contractor on time to prevent funding constraints from disrupting construction.
The announcement reinforces the government’s position that the project will be financed domestically rather than through additional loans.
Finance Minister Dr Cassiel Ato Forson has separately said the full amount required for the project will be available by December 31, 2026, with government maintaining that it will not borrow to finance the expressway.
The latest announcement follows earlier government disclosures that US$1.7 billion had been deposited in a dedicated account at the Bank of Ghana and ring-fenced for the project. The new US$2 billion figure announced by the President therefore represents the government’s latest stated funding position.
President Mahama has directed the Roads and Highways Minister to include the Engineers Regiment as a major subcontractor to the main contractor during construction.
The planned Accra-Kumasi Expressway will cover approximately 198.7 kilometres and will be constructed as a six-lane, access-controlled highway.
The project will include eight grade-separated interchanges, 11 vehicle overpasses and 55 mainline bridges, alongside service areas, tolling locations, monitoring centres and road safety infrastructure.
The expressway is intended to provide an alternative to the existing N6 Accra-Kumasi highway, separating long-distance traffic from local traffic and easing pressure on the current corridor.