Stakeholders In Infrastructure Urged To Evaluate Better Models For Road Construction..

H.E. Alhaji Dr. Mahamudu Bawumia, Vice President of the Republic of Ghana and Flagbearer of the New Patriotic Party (NPP), joined the Ghana Highways Authority on August 7, 2024, to mark its 50th Anniversary celebration in Accra.

He challenged stakeholders in the road infrastructure provision system to critically examine the current financing models for road construction and investigate ways to close the financing gap during his speech.

According to Dr. Bawumia, that’s what current estimates reveal, Ghana needs $12 billion to clear the maintenance backlog and enable the network of about 94,203km to be at an optimal level.

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He stated that there is a significant shortfall because the current funding levels only cover about 38% of this requirement. This gap converts deteriorating road conditions, increased maintenance costs, and missed economic opportunities.

He continued:

“Adding that, there is the need for us to explore the potential of Public Private Partnerships and shift our burden of financing infrastructure development to the private sector. This he says will free up budgetary funds for investments in other sectors”.

Dr. Bawumia has also noted that, attention must also be turned towards “new funding schemes, leveraging on best practices and local dynamics.”

These he says requires striking and imaginative reasoning and is sure that supportable answers for Ghana’s infrastructure funding gap will be raised by the stakeholders.