Asenso Boakye takes on Ato Forson over $750m road project financing

HomeNEWS REMIX

Asenso Boakye takes on Ato Forson over $750m road project financing

A sharp political spat has erupted between former Roads and Highways Minister Francis Asenso-Boakye and current Finance Minister Dr. Cassiel Ato Forso

Finance Minister presents 2025 mid-year budget review July 24 
Gov’t repeating 2025 mistakes — Minority punches hole in 2026 budget
Goldbod’s efficiency behind foreign exchange stability and record gold inflows — Finance Minister

A sharp political spat has erupted between former Roads and Highways Minister Francis Asenso-Boakye and current Finance Minister Dr. Cassiel Ato Forson over the funding and execution of major road infrastructure projects under the Akufo-Addo administration.

Ato Forson in a recent media engagement accused the former government of financial mismanagement, specifically alleging that the Akufo-Addo administration secured loans intended for critical road projects — including the Ofankor–Nsawam Road and Suame Interchange — but diverted the funds to other uses.

The Finance Minister made the claims in response to growing public concern over stalled infrastructure across the country, particularly roads that were announced years ago but remain incomplete.

However, Asenso-Boakye, now a member of Parliament’s Roads and Transport Committee, categorically denied the allegations, describing them as “false and misleading.” In a public statement titled “Setting the Record Straight”, he provided a detailed breakdown of the financial structure behind the road projects in question.

According to Asenso-Boakye, the $750 million loan facility secured from the African Export-Import Bank (Afreximbank) in 2022 was never tied to only two projects.

Instead, the facility was a broad-based infrastructure support fund that was transparently approved by Parliament and earmarked to cover several critical national road projects across the country.

Among the projects listed as beneficiaries of the loan were:

The Ofankor–Nsawam Road

Suame Interchange in Kumasi

Flowerpot Interchange in Accra

Dualization of School Junction to Motorway (Borteyman)

Bypasses on the Accra–Kumasi Highway, including Osino–Anyinam–Enyiresi and Konongo stretches

“The Afreximbank facility was a programmatic loan, structured to support government counterpart funding, and designed to be disbursed in phases based on project milestones,” Asenso-Boakye explained.

He emphasized that no funds were diverted and that the implementation of each road project was subject to strict timelines and milestone triggers under the terms of the financing agreement.

This isn’t the first time the Ofankor–Nsawam Road and Suame Interchange have become political flashpoints.

Both projects were announced with high public expectations during the Akufo-Addo administration’s second term, particularly as part of the government’s “Year of Roads” agenda in 2020–2021.

While sod-cutting ceremonies were held and initial works began, delays in full-scale construction led to mounting public frustration, with critics pointing to either funding shortfalls or procurement bottlenecks.

In his latest attack, Dr. Forson claimed that the NPP government used road project announcements as political bait, with no intention of delivering them.

“They borrowed in the name of roads but spent the money on other things,” he alleged in a media interview.

But Asenso-Boakye insists that the records, including parliamentary approvals and project documents, are available to prove that the funds were properly allocated.

“The people of Ghana deserve facts, not propaganda,” he stated.

The clash between the two high-ranking MPs signals deeper partisan tension as both the ruling NDC government and the opposition NPP gear up for the 2026 general elections.

Infrastructure, especially roads, remains a pivotal issue in the political discourse, often seen as a key metric of government performance.

COMMENTS

WORDPRESS: 0
DISQUS: