Finance Minister Dr Cassiel Ato Forson says the full financing required for the construction of the Accra-Kumasi Expressway will be secured by the end of 2026, with no borrowing involved.
Dr Forson made the announcement during the Mid-Year Fiscal Policy Review, describing the financing arrangement as potentially unprecedented for an infrastructure project of the expressway’s scale.
“By the end of this year, the full funding for the transformational Accra-Kumasi Expressway will be ready,” he said.
He stressed that the project would be financed without contracting new loans.
“For the avoidance of doubt, not a single pesewa will be borrowed for this project,” Dr Forson stated.
The Finance Minister disclosed that US$1.7 billion had already been secured and deposited in an account at the Bank of Ghana pending the commencement of construction.
He also commended the Ghana Armed Forces for the progress made in clearing the route earmarked for the project.
According to the Armed Forces, only six kilometres of the 176-kilometre stretch remained to be cleared.
“The finish line is in sight. Out of 176 kilometres of challenging terrain, just six kilometres remain,” the Armed Forces said.
The military was deployed to undertake the route-clearing exercise during Dr Forson’s tenure as Acting Minister for Defence.
Six-lane expressway
The Accra-Kumasi Expressway is planned as a six-lane, bidirectional highway linking Ghana’s two major cities.
The project is expected to reduce congestion and travel times along the Accra-Kumasi corridor while improving connectivity and supporting economic activity.
Dr Forson said securing the full funding ahead of construction would enable the project to move forward without adding borrowing pressures to the country’s finances.
