Government says it has accumulated about US$3 billion in an account at the Bank of Ghana to finance the proposed Accra-Kumasi Expressway, as preparations for the project move towards the tendering stage.
According to the 2027 Budget Statement and Economic Policy, the project account held US$2.2 billion and GH¢9 billion as of November 11, 2026.
The Finance Minister, Dr Cassiel Ato Forson, said the funds were in the custody of the Bank of Ghana and were being held for the expressway project.
Government says the financing comes from the Annual Budget Funding Amount allocated from petroleum revenues, together with mineral royalties.
The budget puts the estimated construction cost of the 198.7-kilometre, six-lane expressway at US$2.98 billion.
The estimate includes contingencies, supervision, land acquisition and compensation.
According to the Finance Minister, the current engineering estimate is more than US$1 billion below the project’s initial estimated cost of about US$4 billion.
He said international competitive tenders had been issued, with the process expected to conclude by the end of 2026.
The final contract price, however, will be determined through the competitive tendering process.
The budget further states that all contract awards will require commitment control approval and a value-for-money assessment in accordance with procurement and public financial management laws.
The proposed expressway is expected to connect Accra and Kumasi, Ghana’s two largest cities. Government estimates that it will serve more than 10 million people.
The project is expected to improve road connectivity between the two economic centres, although its eventual impact will depend on the quality of construction, cost management and completion.
The nearly US$3 billion accumulated in the project account is a significant development in the financing of the proposed road. However, the availability of funds does not in itself mean construction has begun or that the final project cost has been established.
With tenders still to be concluded, attention will turn to the contractors selected, the final contract price, the construction schedule and the safeguards put in place to ensure value for money.
The public will also be watching how the petroleum revenues and mineral royalties allocated to the project are managed, given the scale of the investment and its implications for national resources.
