Founder and Leader of the United Party, Alan Kwadwo Kyerematen, has questioned government’s decision to commit public funds to the proposed US$4 billion Accra–Kumasi Expressway, arguing that a tollable road of that scale should be financed largely by the private sector.
Mr Kyerematen made the argument during a public lecture organised by the Center for Strategic African Development, CENSADEV, in Accra on Wednesday, September 23, 2026. The lecture was held on the theme, “Transformation of the Ghanaian Economy: From Stability to Prosperity.”
While commending the Mahama administration for pursuing the project, the former Trade and Industry Minister said government should reconsider how it is financed.
“We should commend the NDC government for thinking about the Accra- Kumasi Expressway. But I think government should not fund the $4 billion expressways. Why should you fund a road that can be tolled? It should have been given to the private sector. Four billion dollars could have done a lot for Ghana.”
Government estimates the project at about US$4 billion and has said it intends to finance it without borrowing, relying on 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 cover about 198.7 kilometres and includes a new six-lane carriageway. Government says the project could reduce travel time between Accra and Kumasi to about two hours, cut transport costs and create thousands of jobs during construction.
Mr Kyerematen’s position reflects a broader argument in his Great Transformational Plan, which proposes greater private-sector participation in major infrastructure projects. The plan supports financing models such as Build-Operate-Transfer and other arrangements intended to reduce the direct burden on government.
Beyond the expressway, Mr Kyerematen argued that Ghana must move beyond improvements in inflation, the exchange rate and other macroeconomic indicators and focus on deeper structural transformation.
He said economic stability should be treated as a foundation for investment, industrialisation, job creation and improved living standards, rather than as the final objective.
He also criticised what he described as weak coordination in Ghana’s development planning and called for clear national performance indicators.
“It’s a big joke if a country like Ghana does not set KPIs for where it wants to get to. How do you know you have reached your destination?”
The former Trade Minister also touched on the cost of credit, arguing that further reductions in inflation and the Bank of Ghana’s policy rate would be necessary to ease borrowing costs for businesses.
He said Ghana should ultimately aim for a single-digit policy rate to create a more supportive environment for private-sector investment and expansion.
Mr Kyerematen also questioned Ghana’s continued absence of a functioning national airline, arguing that it reflected the country’s difficulty in turning its strategic advantages into productive national assets.
His broader argument was that Ghana’s economic conversation must move from simply achieving stability to building a coordinated system capable of delivering sustained growth, investment, infrastructure and prosperity.
By Wisdom Sarfo
