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 noted that under Ghana’s public financial management framework, transfers from the Consolidated Fund to government entities outside the Central Government accounting group are recorded as grant expenditure in the books of Central Government and as grant revenue in the accounts of the receiving entity.
The Department stressed that such accounting entries do not mean the receiving institution has spent the funds, citing similar transfers to institutions such as the District Assemblies Common Fund (DACF), GETFund and the National Health Insurance Authority (NHIA).
The CAGD therefore urged the public not to interpret the accounting treatment of the transfer as evidence that the funds have already been used for the construction of the Accra-Kumasi Expressway.
It reaffirmed that the accounting process applied to the project is consistent with Ghana’s Public Financial Management framework and established government accounting standards.
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