Alan Kyerematen questions government funding of US$4bn Accra–Kumasi Expressway
Founder and Leader of the United Party, Alan Kwadwo Kyerematen, has questioned the government’s decision to use public funds to finance the proposed US$4 billion Accra–Kumasi Expressway.
According to Mr Kyerematen, a major tollable road project of that scale should rely largely on private-sector financing rather than placing the financial burden on the state.
He made the comments during a public lecture organised by the Center for Strategic African Development (CENSADEV) in Accra on Wednesday, September 23, 2026, on the theme, “Transformation of the Ghanaian Economy: From Stability to Prosperity.”
While commending the Mahama administration for pursuing the expressway project, Mr Kyerematen urged the government to reconsider its financing model.
He argued that the US$4 billion could be put to other productive uses if the project were financed through private-sector participation.
Government estimates the cost of the project at about US$4 billion and has indicated that it intends to finance it without borrowing, using domestic resources. President John Dramani Mahama has also said US$2 billion has already been set aside, with the full amount expected to be mobilised by the end of 2026.
The planned expressway is expected to span approximately 198.7 kilometres and feature a new six-lane carriageway. Government says the project is expected to reduce travel time between Accra and Kumasi to about two hours, lower transportation costs and create thousands of jobs during construction.
Mr Kyerematen’s position forms part of his broader Great Transformational Plan, which advocates greater private-sector participation in major infrastructure projects.
The plan proposes financing arrangements such as Build-Operate-Transfer models to reduce the direct financial burden on government.
Beyond the expressway project, Mr Kyerematen said Ghana must move beyond improvements in inflation, the exchange rate and other macroeconomic indicators and focus on deeper structural transformation of the economy.
He said economic stability should serve as a foundation for investment, industrialisation, job creation and improved living standards rather than being treated as the ultimate objective.
Mr Kyerematen also criticised what he described as inadequate coordination in Ghana’s development planning and called for the introduction of clear national performance indicators.
He questioned how the country could measure its progress without setting specific targets and key performance indicators.
On the cost of credit, the former Trade and Industry Minister argued that further reductions in inflation and the Bank of Ghana’s policy rate would be necessary to lower borrowing costs for businesses.
He said Ghana should ultimately target a single-digit policy rate to create a more favourable environment for private-sector investment and business expansion.
Mr Kyerematen also raised concerns about Ghana’s lack of a functioning national airline, saying this highlighted the country’s challenges in turning its strategic advantages into productive national assets.
He maintained that Ghana’s economic agenda should move beyond achieving macroeconomic stability towards building a coordinated system capable of sustaining investment, industrial growth, infrastructure development and improved prosperity.
By Esther Padmore Amonoo
