President John Dramani Mahama has disclosed that ongoing major airport infrastructure projects across Ghana are being financed entirely by the Ghana Airports Company Limited (GACL) and the Ghana Civil Aviation Authority (GCAA), without direct financial support from the government.
According to the President, the arrangement demonstrates how state institutions can undertake major infrastructure projects through prudent financial management without adding to the country’s debt burden.
President Mahama disclosed this at the sod-cutting ceremony for the multi-tiered car park and airport hotels complex at the Accra International Airport.
He said the government had not provided “one single cedi” to either GACL or GCAA to finance the ongoing projects.
“Let me state for the record that all these airport projects are being funded entirely on the balance sheets of the Ghana Civil Aviation Authority and the Ghana Airports Company Limited. The Government of Ghana has not given either of these two institutions one single cedi for these projects,” he said.
The projects, he said, include the new GCAA control tower, the refurbishment of Terminal 2, the transfer concourse linking Terminals 2 and 3, as well as the newly launched airport parking and hotel complex.
President Mahama commended the Minister for Transport, the boards and management of GACL and GCAA, as well as consultants, contractors and private sector partners for advancing the projects through what he described as prudent financial management.
“This is what we want to see; develop our country, but don’t go to our creditors and ask for money,” he stated.
The President also stressed the need for strict cost controls, continuous supervision and value for money in the execution of infrastructure projects.
He urged contractors to adhere to approved project specifications and deadlines, while calling for transparent communication with the public throughout the construction period.
According to him, effective communication will help minimise disruptions and maintain the confidence of airport users as the various projects are implemented.