The Minister of Finance, Dr Cassiel Ato Forson has announced that full funding required for the construction of the Accra-Kumasi Expressway will be secured by the end of 2026.
He said the project will be funded without borrowing, describing the arrangement as a major step for Ghana.
According to Dr Forson, this could be the first time Ghana has secured the full funding for an infrastructure project of this size before construction begins.
“By the end of this year, the full funding for the transformational Accra-Kumasi Expressway will be ready,” he said.
He added that “not a single pesewa will be borrowed” to finance the project.
Dr Forson disclosed during the Mid-Year Fiscal Policy Review that US$1.7 billion had already been secured and deposited with the Bank of Ghana ahead of the start of construction.
He also commended the Ghana Armed Forces for clearing 176 kilometres of the route in preparation for the project.
“Hearty congratulations to our indefatigable army on a stellar job,” he said.
His remarks followed an update from the Ghana Armed Forces indicating that only six kilometres of the route remained to be cleared.
“The finish line is in sight. Out of 176 kilometres of challenging terrain, just six kilometres remain. The elite Ghana Armed Forces Engineers have pushed through with absolute grit. The race to Sawua is almost won,” the Armed Forces stated.
The military was deployed to clear the route during Dr Forson’s tenure as Acting Minister for Defence, paving the way for the expressway's construction.
The Accra-Kumasi Expressway is an unprecedented six-lane, bidirectional expressway expected to improve travel between Ghana’s two largest cities, reduce congestion, shorten travel time and boost economic activity along the corridor.