Ghana Secures US$3 Billion Without Borrowing for Construction of Accra-Kumasi Expressway

Ghana’s government has secured approximately US$3 billion to finance the construction of the proposed Accra-Kumasi Expressway, with Finance Minister Dr Cassiel Ato Forson announcing that the project will be funded without resorting to external borrowing.

Presenting the 2027 Budget Statement to Parliament on Thursday, November 12, 2026, Dr Forson disclosed that the dedicated project account at the Bank of Ghana contained US$2.2 billion and GH¢9 billion as of November 11, representing approximately US$3 billion in total funding.

According to the Finance Minister, the money has been accumulated through petroleum revenues and mineral royalties, alongside the government’s efforts to manage resources and reduce project costs.

The proposed expressway will cover approximately 198.7 kilometres and feature six lanes, connecting Ghana’s capital, Accra, with Kumasi, the Ashanti Regional capital.

Dr Forson further revealed that the estimated construction cost had been revised from an initial projection of approximately US$4 billion to US$2.98 billion following detailed feasibility studies, engineering designs, costing and environmental and social assessments.

The revised estimate includes provisions for contingencies, supervision, land acquisition and compensation. He said the adjustment represents savings of more than US$1 billion compared with the initial estimate.

Meanwhile, the government has issued tenders through an international competitive bidding process, which is expected to conclude by the end of 2026. The final contract price will be determined through the tendering exercise.

Dr Forson explained that all contract awards would undergo the necessary procurement approvals and value-for-money assessments to ensure transparency and accountability.

The government believes the project will significantly improve transportation, reduce travel difficulties and strengthen economic activities between Accra and Kumasi.

The announcement marks a major development in the government’s infrastructure plans, with authorities maintaining that the project will be financed using Ghana’s own resources rather than new external borrowing.

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