Finance Minister Dr Cassiel Ato Forson has announced that approximately US$3 billion has been secured and is ready to finance the construction of the Accra-Kumasi Expressway.
He said the project account at the Bank of Ghana held US$2.2 billion and GH¢9 billion as of November 11, 2026, with the combined amount equivalent to about US$3 billion.
Presenting the 2027 Budget to Parliament on Thursday, November 12, Dr Forson said the funds were being held in the safe custody of the Bank of Ghana ahead of the commencement of construction.
“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.
“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 told Parliament.
The Finance Minister disclosed that the engineer’s construction estimate for the 198.7-kilometre, six-lane expressway currently stands at US$2.98 billion.
According to him, the revised estimate is more than US$1 billion lower than the initial projection of approximately US$4 billion.
He explained that the estimate covers contingencies, supervision, land acquisition and compensation.
Dr Forson further stated that the financing had been matched with detailed project preparation, including feasibility studies, engineering designs, costing, and environmental and social assessments.
He said tenders had been issued through international competitive tendering, with the process expected to be completed by the end of 2026.
The final contract price, he added, would be determined through the competitive tendering process. All contract awards would also be subject to commitment control approval and value-for-money assessments in line with procurement and public financial management laws.
“Every cedi saved is a cedi available for another national priority,” he stated.
Dr Forson also commended the Ghana Armed Forces for their dedication and professionalism in undertaking preparatory works for the project.
By:Rachael Djabakie