BY Issah Olegor
A fresh political row has erupted over the financing of the Ofankor–Nsawam Rad rehabilitation project, following comments made by President John Dramani Mahama during his inspection of the project on Tuesday, September 3, 2025.
President Mahama, after touring sections of the 33.4kilometre 10-lane road, questioned why a loan facility secured for the $346million project had reportedly run out while the road remains unfinished.
He further expressed concern that an additional ₵78 million from the Bank of Ghana fund would now be required to cover supplementary costs.
“A loan was taken for this project and I don’t understand why the money is finished, the project is not over, and we now have to pay a supplementary of almost ₵78 million from the BoG fund,” Mahama remarked.
However, former Minister for Roads and Highways, Francis Asenso Boakye, has strongly rebutted these claims, describing the President’s comments as misleading and politically motivated. He wondered where the president is getting his briefing?
The Financing Structure
In a statement issued hours after the President’s remarks, Asenso Boakye explained that the total contract sum for the Ofankor–Nsawam Road is $346.4 million.
Out of this, government secured a $200 million facility from Afreximbank to support financing, but not to cover the full project cost.
He stressed that the loan was designed only as a partial financing instrument, with the remaining balance to be funded through government budgetary allocations.
“For the President to suggest that a loan was taken to fully cover the project but the money has been exhausted is simply not factual. He knows very well, as clearly stated in the official handing-over notes, that the Afreximbank facility was never the sole source of funding,” the former Minister said.
Project Scope And Delays
The Ofankor–Nsawam Road project, awarded to Maripoma Enterprise Limited, was initially scheduled to be completed in July 2024, following a 24-month construction period. However, delays pushed the revised completion date to May 2025.
The project covers significant infrastructure works, including:
A 2×3 lane main carriageway with service roads and walkways.
An interchange at Amasaman.
Two flyovers at Pobiman and Adjen Kotoku.
A vehicular underpass with a traffic circle at Nsawam Junction.
Ten pedestrian footbridges, drainage systems, and other road appurtenances.
According to government documents, the project forms part of a broader $750 million Afreximbank facility that also covered several major road and infrastructure projects across the country, such as the Ejisu–Konongo Road, Suame Interchange, Sofoline Interchange, and the Kwabenya–Peduase Road.
Political Undertones
The disagreement highlights the increasing politicisation of road projects in Ghana, with both the current and former administrations trading blame over stalled or delayed works. While Mahama has accused the government of financial mismanagement, Asenso Boakye insists the President is twisting facts for political gain.
“We urge all well-meaning Ghanaians to disregard these distortions. This is not the time to play politics with infrastructure. It is a time for facts, transparency, and steady progress geared towards the future development of our beloved country,” the former Roads Minister noted.
The Ofankor–Nsawam stretch remains one of the most critical road corridors linking Accra to the Eastern Region and the northern parts of Ghana.
Its rehabilitation has been long overdue, with commuters facing years of congestion and deteriorating road conditions.
