After years of debate, back-and-forth, and lingering uncertainty, the Government of Ghana and the African Export-Import Bank (Afreximbank) have finally put to rest the issues surrounding the controversial US$750 million facility.
The Ministry of Finance and Afreximbank, in a joint statement released on Christmas Day, announced the successful resolution of all outstanding matters linked to the facility signed in 2022.
This milestone has cleared the way for renewed cooperation and confidence between both sides.
“The Government of the Republic of Ghana, acting through the Ministry of Finance, and the African-Export Bank (Afreximbank) are pleased to announce the successful resolution of the issues surrounding the US$750 million facility signed in 2022 to the satisfaction of both parties, enabling both parties to continue to partner for Ghana’s development agenda,” the statement read.
The announcement marks an important turning point in a saga that had drawn intense scrutiny. The facility had become a subject of national discussion, with questions raised about how the funds were structured, whether portions were placed in escrow, how the money was applied, and how the loan should be treated within Ghana’s broader debt restructuring programme.
At different points, the issue spilled into Parliament and the media, fueling political tension and public concern about transparency and accountability.
The latest statement, however, signals a clean break from that period of uncertainty. According to the Ministry of Finance, the concerns that had clouded the facility have now been fully addressed to the satisfaction of both the government and Afreximbank.
More importantly, the resolution restores a critical development partnership at a time when Ghana is seeking stability and growth.
Beyond the technical details, the development carries practical significance for the country. Afreximbank has been a key partner in trade finance, infrastructure support, and balance-of-payments relief for Ghana.
Clearing the air on the US$750 million facility removes a potential obstacle to future financing and reassures investors and development partners that Ghana remains committed to honouring its obligations.
The timing of the announcement, coming at the close of the year, also sends a good signal to the market.
It suggests a deliberate effort by the government to tidy up unresolved financial matters before the new year, as it positions the economy for recovery and renewed momentum.
