The government has secured $2 billion in a special account at the Bank of Ghana to finance construction of the long-delayed Accra-Kumasi Expressway, President John Dramani Mahama said, as the government seeks to prevent funding constraints from disrupting the 198.7-kilometre project.
The funds, set aside by the Ministry of Finance, will allow contractors to be paid promptly once construction begins, Mahama said while speaking at the handover of the completed right-of-way for the project.
“When this project starts, money is not going to be the problem. All certificates presented by the contractor will be paid instantly,” Mahama said. The president said the project will be financed from domestic resources rather than new external borrowing, describing the funds as taxpayer money.
“This is our own money. We have not gone to borrow money from anywhere. This money belongs to the taxpayers of Ghana,” he said.
The Ministry of Finance expects to complete the full financing package before the end of the year, Mahama said, potentially clearing the way for construction to begin.
Shorter Accra-Kumasi Route
The planned six-lane expressway will cut the distance between Accra and Kumasi to 198.7 kilometres from the existing 270-kilometre route, according to the president.
Travel time is expected to fall to about two hours at a recommended speed of 120 kilometres per hour, from the current five to six hours.
The project will include eight interchanges, four rest stops, CCTV surveillance, emergency tow-truck services and tolling facilities at both ends.
The infrastructure is intended to improve the movement of passengers and goods along one of Ghana’s most important economic corridors, while the tolling system is expected to contribute to the road’s long-term operating sustainability.
Contractor Selection
The government has already advertised an Expression of Interest for companies seeking to participate in the project, with interested firms given four weeks to submit applications, Mahama said.
That will be followed by prequalification and the selection of a contractor.
Mahama said he expects construction preparations to advance quickly enough for the government to return to Kwaso before Christmas to cut the sod for the project.
The Accra-Kumasi corridor connects Ghana’s capital to Kumasi, the country’s second-largest city and a major commercial hub. The government expects the upgraded route to reduce transport times and costs while improving the movement of goods between southern markets and the middle and northern parts of the country.
The project forms part of Mahama’s broader push to expand transport infrastructure, with the president describing the expressway as the start of a new phase for Ghana’s road network.
