2027 Budget: About $3bn secured for Accra-Kumasi Expressway – Ato Forson

Finance Minister Dr Cassiel Ato Forson has announced that the government has secured approximately US$3 billion for the construction of the Accra-Kumasi Expressway, with the funds currently held in the safe custody of the Bank of Ghana.

Presenting the 2027 Budget Statement and Economic Policy to Parliament, the Finance Minister said the project account held US$2.2 billion and GH¢9 billion as of November 11, 2026, representing the resources accumulated towards the construction of the 198.7-kilometre expressway.

He said the financing had been secured through the allocation of the Annual Budget Funding Amount (ABFA) from petroleum revenues, alongside mineral royalties, as part of the government’s decision to dedicate the country’s natural resource wealth to major infrastructure development.

“We promised to secure the financing. We have done so. Promise made, promise fulfilled,” he told Parliament.

The Finance Minister further disclosed that the engineer’s construction estimate for the six-lane expressway now stands at US$2.98 billion, following detailed feasibility studies, engineering designs, costing and environmental and social assessments.

The estimate, he explained, includes contingencies, supervision, land acquisition and compensation, and represents a reduction of more than US$1 billion from the initial estimated cost of approximately US$4 billion.

He said the government had issued tenders through international competitive bidding, with the process expected to be concluded by the end of 2026. Final contract prices, he added, would be determined through the competitive process, while all contract awards would be subject to commitment control approval and value-for-money considerations.

Dr Ato Forson also indicated that the anticipated savings of more than US$1 billion from the expressway project could finance the construction of the Accra Orbital Expressway.

He said feasibility studies, engineering designs, costing and environmental and social assessments for the proposed orbital expressway were already underway, with the Ghana Armed Forces expected to secure its right of way.

Beyond the Accra-Kumasi Expressway, the government is also proposing to adopt the same financing model for the construction of the Western Corridor Railway Line.

The Finance Minister said the railway would run from Takoradi through Nsuta and Awaso to Nyinahin, with funding coming from petroleum revenues and mineral royalties.

He stressed that the government intended to finance the railway project with domestic resources rather than resorting to borrowing.

“Just as we pledged for the Accra-Kumasi Expressway, we will not borrow to build this railway,” he said.