Omanghana
The Controller and Accountant-General’s Department (CAGD) has dismissed claims circulating on social media that the government has already spent GH₵11 billion allocated for the Accra-Kumasi Expressway project, stating that the full amount remains intact and has not been used for construction activities.
In a statement issued on July 16, 2026, the CAGD explained that the confusion arose from a misunderstanding of Ghana’s public accounting procedures and the way government financial transactions are recorded.
Accounting Entry Does Not Mean Money Has Been Spent
According to the CAGD, the appearance of the GH₵11 billion as an expenditure item in government accounts does not mean the funds have been paid to contractors or used for construction.
The department explained that under Ghana’s public financial management framework, when funds are transferred from the Consolidated Fund to a State-Owned Enterprise (SOE), the transaction is recorded as “Grant Expenditure” in the central government’s accounts.
At the same time, the receiving institution records the same amount as “Grant Revenue” in its own financial statements.
CAGD stressed that this accounting treatment is a standard reporting requirement and should not be interpreted as evidence that the money has already been spent.
Funds Secure in Dedicated Project Account
The department confirmed that the approved GH₵11 billion remains safely held in a dedicated project account at the Bank of Ghana (BoG).
The funds were accumulated following parliamentary approval through allocations from the 2025 Budget’s Annual Budget Funding Amount (ABFA) and proceeds from national mineral royalties.
CAGD explained that the money has been reserved exclusively for the Accra-Kumasi Expressway project and will only be released when verified construction milestones are achieved.
Payment Linked to Project Progress
The government has established a controlled financing structure to ensure that funds are released based on actual progress on the project.
Rather than making immediate payments, disbursements will be tied to specific stages of construction, helping to improve accountability and prevent financial mismanagement.
Officials say this approach is intended to avoid challenges that have affected major infrastructure projects in the past, including delays, cost overruns, and incomplete works.
Accra-Kumasi Expressway Limited Created to Manage Project
To oversee the implementation and financing structure of the expressway, the government established Accra-Kumasi Expressway Limited, a Special Purpose Vehicle (SPV) created through the Ghana Infrastructure Investment Fund (GIIF).
The entity operates as a State-Owned Enterprise and is responsible for managing the project framework, coordinating financing arrangements, and ensuring effective delivery of the major infrastructure initiative.
Military Land Clearing Separate from Project Funds
The CAGD also clarified issues surrounding ongoing land-clearing activities being carried out by the Ghana Armed Forces along the proposed expressway route.
The department explained that these preparatory works are separate from the main GH₵11 billion project financing.
The military-led right-of-way clearing exercise is being funded independently and does not involve withdrawals from the dedicated expressway account held at the Bank of Ghana.
Government Reaffirms Commitment to Expressway Project
The Accra-Kumasi Expressway remains one of the government’s flagship infrastructure projects, aimed at improving transportation links between Ghana’s two major economic hubs.
Authorities say the structured financing arrangement, strict milestone-based payments, and dedicated project management system are designed to ensure transparency, accountability, and successful completion of the long-awaited road project.
Source: Omanghana
