Finance Minister Dr Cassiel Ato Forson has announced that the full funding required for the construction of the Accra-Kumasi Expressway will be secured by the end of this year without borrowing.

According to the Minister, this funding arrangement could mark the first time Ghana has fully secured financing for an infrastructure project of this scale before construction begins.

“By the end of this year, the full funding for the transformational Accra-Kumasi Expressway will be ready,” Dr Forson stated.

“This could be the first time funds for a project of this scale have been fully secured before construction begins. For the avoidance of doubt, not a single pesewa will be borrowed for this project.”

During the Mid-Year Fiscal Policy Review, the Finance Minister disclosed that US$1.7 billion had already been secured and deposited into an account at the Bank of Ghana, awaiting the project's commencement.

Dr Forson also congratulated the Ghana Armed Forces on the progress made in clearing the 176-kilometre route ahead of construction.

“Hearty congratulations to our indefatigable army on a stellar job,” he said.

His remarks followed an update from the Ghana Armed Forces indicating that only six kilometres of the route remained to be cleared.

“The finish line is in sight. Out of 176 kilometres of challenging terrain, just six kilometres remain. The elite Ghana Armed Forces Engineers have pushed through with absolute grit. The race to Sawua is almost won,” the Armed Forces stated.

The military was deployed to clear the route during Dr Forson’s tenure as Acting Minister for Defence, paving the way for the expressway's construction.

The Accra-Kumasi Expressway is an unprecedented six-lane, bidirectional expressway expected to improve travel between Ghana’s two largest cities, reduce congestion, shorten travel time and boost economic activity along the corridor.