Government secures about US$3bn for Accra-Kumasi Expressway

Finance Minister Dr Cassiel Ato Forson says the government has secured about US$3 billion for the construction of the Accra-Kumasi Expressway, with the funds held in a dedicated project account at the Bank of Ghana.

Presenting the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12, 2026, he said the account contained US$2.2 billion and GH¢9 billion as of November 11.

“As of yesterday, 11th November 2026, the project account at the Bank of Ghana held US$2.2 billion and GH¢9 billion, together equivalent to about US$3 billion. The money is in the safe custody of the Bank of Ghana,” he said.

Dr Forson said the funds had been secured ahead of the commencement of construction, describing the development as the fulfilment of a government commitment.

“Before actual construction of the Accra-Kumasi Expressway begins, the money is ready. We promised to secure the financing. We have done so. Promise made, promise fulfilled,” he said.

The Finance Minister said detailed feasibility studies, engineering designs, costing, and environmental and social assessments had been completed.

He said the engineer’s construction estimate for the 198.7-kilometre, six-lane expressway now stood at US$2.98 billion.

According to him, the estimate includes contingencies, supervision, land acquisition and compensation.

Dr Forson said the revised estimate was more than US$1 billion below an initial projection of about US$4 billion.

The government has issued tenders through an international competitive tendering process, with the exercise expected to be completed by the end of 2026.

Dr Forson said the final contract prices would be determined through the competitive process.

He added that all contract awards would be subject to commitment control approval and value-for-money assessments, in accordance with procurement and public financial management laws.

The government has dedicated the Annual Budget Funding Amount (ABFA) from petroleum revenues, together with mineral royalties, to the Accra-Kumasi Expressway project.

The project is expected to connect more than 10 million people.

With the tendering process expected to conclude by the end of 2026, the next major step will be the award of contracts and commencement of construction.