Government has rejected claims that it has spent nearly GH¢11 billion on the Accra-Kumasi Expressway project, clarifying that the funds have only been transferred into a dedicated account and remain unused.
Government Spokesperson Felix Kwakye Ofosu described the claims circulating on social media as misleading, urging the public to disregard assertions that the amount had already been paid to contractors despite major construction works yet to commence.
The clarification follows public concerns over the financing of the project after reports suggested that government had exhausted about GH¢11 billion on the expressway.
A statement from the Controller and Accountant-General’s Department (CAGD) explained that the claims stemmed from a misunderstanding of public sector accounting procedures.
According to the department, government established the Accra-Kumasi Expressway Limited, a Special Purpose Vehicle (SPV) through the Ghana Infrastructure Investment Fund (GIIF), to manage the project and address challenges such as funding delays and cost overruns associated with previous infrastructure projects.
The entity has been classified as a State-Owned Enterprise for funding and accounting purposes.
The CAGD said Parliament approved the concession arrangement for the project, while funds from the Annual Budget Funding Amount (ABFA) and mineral royalties were provided for in the 2025 Budget.
The funds were subsequently transferred from the Consolidated Fund into a dedicated Bank of Ghana account.
However, the department stressed that no portion of the money has been spent on construction activities or paid to any contractor.
“The funds remain in the dedicated Bank of Ghana account pending project execution,” the statement said.
The CAGD also clarified that the right-of-way clearing currently being undertaken by the Ghana Armed Forces is a separate preparatory activity and is not being financed from the earmarked project funds.
It explained that under Ghana’s public financial management system, transfers from central government to other public entities, including State-Owned Enterprises, are recorded as expenditure in government accounts and as revenue in the accounts of the receiving institutions.
The department said such accounting entries do not indicate that the receiving entity has spent the funds.
It cited similar accounting treatment for transfers made to institutions including the District Assemblies Common Fund (DACF), the Ghana Education Trust Fund (GETFund) and the National Health Insurance Authority (NHIA).
The CAGD assured the public that the treatment of the Accra-Kumasi Expressway funds is in line with Ghana’s Public Financial Management framework and accounting standards.
It maintained that interpreting the recorded transfer as evidence that GH¢11 billion has already been spent on road construction is inaccurate.
