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Business News of Thursday, 23 July 2020


GH¢6.4bn paid road contractors since 2017 - Ofori-Atta

Ken Ofori-Atta, Finance Minister Ken Ofori-Atta, Finance Minister

The Finance Minister, Ken Ofori-Atta, has said that road contractors have seen an increased payment of claim by the Akufo-Addo-led government since the year 2017.

Addressing Parliament on Thursday, July, 23, 2020, while presenting the 2020 Mid-year budget review, he said, “We have paid road contractors approximately GH¢6.4 billion from 2017 till date.”

This is an additional GH¢1.4 bn following an announcement by the Minister of Roads and Highways, Kwasi Amoako-Atta, in January 2020 that government had settled road contractors GH¢5 bn for the past three years.

Finance Minister, Ken Ofori-Atta, established that, the payment “will susbstantially help them (road contractors) meet their obligations and sustain their operation” since the current administration is focused on boosting the road sector in the country hence tagging the year 2020 as ‘The Year of Roads’.

“…We set out to modernize the railway system and effectively replace the colonial rail lay-out. Since 2017, we have committed GHC566.66 million to cover works on construction and rehabilitation of railway lines including rehabilitation of Accra to Tema (30km), Achimota to Nsawam (33km) and Kojokrom to Tarkwa (56km).

The Tema to Mpakada railway line has seen approximately 56km out of the 97km of track laying works completed. The construction of the new standard guage Western Line (Takoradi to Kumasi), with the Kojokrom to Manso section, is also on course,” the Finance Minister updated the House.

He added that to activate these networks, a contract for the purchase of 35 trains has also been signed with a set of nine trains to be delivered within 18 months.