Ofankor-Nsawam Road Project Clears Financial Air, Nears Completion Despite Delays

Strategic Insights -

According to Rep. Kennedy Osei Nyarko, the Akim Swedru Member of Parliament, the Ofankor-Nsawam Road project has been progressing, despite delays due to litigation. The MP assured that government financing arrangements have been transparent and well-documented, with the actual contract sum for the 33.4-kilometre road being $346.479 million. The project had achieved 70 percent completion by January 6, 2025, with 70 percent of the total contract sum, equivalent to $241 million, already paid to the contractor.

Key Takeaways:

  • The Ofankor-Nsawam Road project's actual contract sum was $346.479 million, with the then New Patriotic Party (NPP) administration securing a $200 million loan facility and government contributing $146.479 million as counterpart funding.
  • By January 6, 2025, the project had achieved 70 percent completion, with 70 percent of the total contract sum, equivalent to $241 million, already paid to the contractor.
  • The original completion date of July 2024 was missed due to over 80 lawsuits from individuals affected by the demolition of structures along the right of way.
  • Most of the cases were resolved by the end of June this year, paving the way for accelerated work.
  • President John Dramani Mahama had questioned the use of funds for the project, remarking that a loan was taken for the project and he didn't understand why the money finished but the project wasn't over.
  • The Ofankor-Nsawam Road is considered one of the country's most critical transport corridors, linking Accra to Kumasi and serving as a major route for commuters and trade.

Statistics:

  • $346.479 million: The actual contract sum for the 33.4-kilometre road.
  • $241 million: 70 percent of the total contract sum paid to the contractor before the previous NPP administration left office.
  • 70 percent: The percentage of the project completed by January 6, 2025.
  • $200 million: The amount secured by the then New Patriotic Party (NPP) administration as a loan facility for the project.
  • $146.479 million: The amount contributed by government as counterpart funding for the project.

Sources:

  • Rep. Kennedy Osei Nyarko, Akim Swedru Member of Parliament, Ghana Parliament.