The Controller and Accountant-General’s Department (CAGD) has dismissed claims circulating on social media that the government has already spent nearly GH¢11 billion on the Accra-Kumasi Expressway project, describing the claims as a misunderstanding of government accounting procedures.
In a statement, the Department explained that although funds earmarked for the flagship project were transferred from the Consolidated Fund to Accra-Kumasi Expressway Limited, the transfer does not mean the money has been spent on construction.
According to the CAGD, the government established Accra-Kumasi Expressway Limited as a Special Purpose Vehicle (SPV) through the Ghana Infrastructure Investment Fund (GIIF) to oversee the implementation of the project.
The company is classified as a State-Owned Enterprise (SOE) for funding and accounting purposes.
The Department said following Parliament’s approval of the concession arrangement, funds from the Annual Budget Funding Amount (ABFA) and mineral royalties were allocated in the 2025 Budget to finance the project.
It explained that the approved funds were subsequently transferred into a dedicated Bank of Ghana account but remain intact and have not been paid to any contractor or used for construction works.
The CAGD further clarified that the ongoing right-of-way clearing exercise being undertaken by the Ghana Armed Forces is a separate preparatory activity and is not being funded from the money allocated for the expressway project.
Explaining the accounting process, the Department said government finances are managed across three levels: Central Government, Local Government and Government Business Entities, including State-Owned Enterprises.
It was noted that within Ghana’s public financial management framework, transfers from the Consolidated Fund to government entities outside the Central Government accounting group are documented as grant expenditure in the Central Government’s records and as grant revenue in the accounts of the receiving entity.
The Department emphasised that such accounting entries do not imply that the receiving institution has utilised the funds, referencing similar transfers to entities such as the District Assemblies Common Fund (DACF), GETFund, and the National Health Insurance Authority (NHIA).
Consequently, the CAGD urged the public not to misconstrue the accounting treatment of the transfer as proof that the funds have already been allocated for the construction of the Accra-Kumasi Expressway.
It reiterated that the accounting process applied to the project aligns with Ghana’s Public Financial Management framework and established government accounting standards.
