Ghana secures $3 billion for expressway
By the AFREEQUE newsroom, based on MyJoyOnline and 3News
Ghana has secured about $3 billion to build the Accra-Kumasi Expressway, whose estimated cost is $2.98 billion. The funds are held in a dedicated account at the Bank of Ghana, while technical and environmental studies have been completed and tenders are under way, according to MyJoyOnline.
Finance Minister Cassiel Ato Forson told Parliament that the project account held $2.2 billion and 9 billion cedis as of 11 November, equivalent to about $3 billion. The funds are being held at the Bank of Ghana before construction begins, he said.
For the 198.7-kilometre, six-lane expressway, the estimated construction cost is $2.98 billion, down from about $4 billion initially. The amount includes contingencies, supervision, land acquisition and compensation. The project is expected to connect more than 10 million people.
The feasibility studies, engineering designs, costing, and environmental and social assessments have been completed. International tenders are due to close by the end of 2026, before contracts are awarded. These will be subject to commitment controls and value-for-money assessments, Cassiel Ato Forson said.
The financing relies on oil revenues allocated to the annual budget and mining royalties. The minister stressed that every cedi saved could be allocated to another national priority and praised the role of the Ghanaian armed forces in the preparatory work.
