Vice-President Dr Mahamudu Bawumia has challenged stakeholders in the road infrastructure provision system to critically evaluate the current models for financing road construction and explore ways to bridge the huge financing gap.
Ghana requires $12 billion to clear road maintenance backlog and enable the network of about 94,203km to be at an optimal level, Dr Bawumia disclosed at a high level expert panel discussion on the theme “Closing The Financing Gap In Road Infrastructure Development In Ghana” on the occassion of the 50th anniverssary of the Highway Authority.
Worryingly, he, however, said current funding levels only cover about 38% of this requirement, leaving a significant shortfall.
This gap translates into deteriorating road conditions, increased maintenance costs, and missed economic opportunities.
Going forward, Dr Bawumia said the government will need to explore the potential of Public Private Partnerships, shifting the burden of financing infrastructure development to the private sector and freeing up budgetary funds for investments in other sectors.
“We will also need to look at new funding schemes, leveraging on best practices and local dynamics. This requires bold, innovative thinking, and I am confident
