President John Dramani Mahama has disclosed that major ongoing airport infrastructure projects are being funded through the balance sheets of the Ghana Airports Company Limited (GACL) and the Ghana Civil Aviation Authority (GCAA), without direct financial support from the government.

Speaking at the sod-cutting ceremony for the construction of a seven-storey multi-purpose car park and hotel complex at the Accra International Airport, on August 27, President Mahama said the approach demonstrated the financial capacity of the two institutions to undertake major infrastructure projects.

He said the projects include the Ghana Civil Aviation Authority’s new control tower, the refurbishment of Terminal 2, the transfer concourse between Terminals 2 and 3, as well as the new car park, hotel and entertainment complex.

“For the record, all these airport projects, the Ghana Civil Aviation’s new control tower, the refurbishment of Terminal 2, the transfer concourse between Terminal 2 and 3, and currently this airport’s parking lot and entertainment and hotel space, are being funded entirely on the balance sheet of the Ghana Civil Aviation Authority,” Mahama said.

He added that the other projects were being funded through the balance sheet of the Ghana Airports Company Limited.

“The government of Ghana has not given any of the two institutions one single cedi for these projects,” he stressed.

Mahama commended the Minister for Transport, the boards and management of the two aviation institutions, consultants, contractors and other stakeholders involved in the projects.

“This is what we want to see. Develop our country, but don’t go to others and ask for money,” he said.

He said the financing model was consistent with the government’s vision of promoting sustainable development while strengthening the capacity of state institutions to undertake strategic investments.

The President expressed confidence that the ongoing projects would improve airport infrastructure and contribute to Ghana’s ambition of becoming a competitive aviation hub in Africa.