Fund Accra-Kumasi Expressway with private capital, not state funds — Alan Kyerematen urges gov’t

Former Trade and Industry Minister and Flagbearer for the United Party, Alan Kwadwo Kyerematen, is advocating for private-sector financing of the proposed $4 billion Accra–Kumasi Expressway, suggesting that government should not drain its scarce public resources on revenue-generating infrastructure. At a public lecture at the British Council, Kyerematen questioned why the state should shoulder the entire cost of a commercially viable road when private investors could provide the capital and recover their investment.

Though the government aims to fund the project domestically without borrowing, Kyerematen believes the initiative offers a chance to demonstrate innovative infrastructure financing. He contends that once the toll road is built, the government should not use public funds to sustain it, as it can generate enough revenue to pay for itself.

Instead of allocating the full $4 billion to the expressway, the government could permit private investors to finance, construct, and operate the road under a scheme that enables them to recoup their investment. Kyerematen praised the government for at least exploring public-private partnerships, stating that such an approach has been the norm for over 60 years, with the state financing every project.

He urges a similar strategy for other revenue-generating infrastructure projects. Kyerematen believes freeing up public resources would enable the government to address other critical infrastructure needs, including repairing and constructing roads in communities nationwide. As the government prepares to commence the expressway construction after securing the right-of-way, President John Mahama recently announced that $2 billion had been raised domestically, with the target to meet the full funding requirement by the end of 2026.

Kyerematen argues that a more significant reliance on private capital should be part of a broader economic transformation strategy, where government creates a conducive policy environment while commercially viable projects are increasingly funded by the private sector.