New Board Chairman of the Road Fund, Alexander Kwamina Afenyo-Markin
The new Board Chairman of the Road Fund, Alexander Kwamena Afenyo-Markin, has assured road contractors of a swift payment system under his watch as the Board Chair.
He intimated that a new payment regime is being introduced where contractors would be paid within six months of completion of projects.
“The system where contractors will chase people with their certificates over contracts executed and all the goro(middlemen) system introduced, I can tell you on authority that very soon all these things will be a thing of the past,” he told host Bonohene Baffuor Awuah on Ghana Kasa on Kasapa 102.5 Fm.
He continued: “We’re going to put in place a system to raise funds from the capital market, get the bond issued to raise money to be paying contractors. And the way we’ll run it to be such that there will be some certainty in the industry so that when you complete a project and submit your certificate, you’re assured that within six months your IPC or interim payment certificate will be honoured.
“With this system, it’s going to create a fair, equitable opportunity for businesses in that sector to flourish and benefit. So that all those distortions, hustling and struggles in the past will stop.”
He stressed that he’s determined, together with the Road Fund Board, to create a game-changer in the sector.
The Road Fund is a statutory fund dedicated to financing the routine and periodic maintenance of the nation’s road network, including road safety activities and selected projects.
The new board is chaired by Mr. Alexander Afenyo-Markin, the Deputy Majority Leader in Parliament.
The members include the Controller and Accountant General, Mr. Kwasi Kwaning Bosompim; Mr. Lemuel Quashie Martey of the Ghana National Association of Farmers and Fishermen; Alhaji Abdullai Abubakari Yakubu of the Ghana Road Transport Coordinating Council; Mr. John Kwesi Danso of the Ghana Institution of Engineering; Ms. Yvonne Quansah of the Ministry of Finance; Mr. Anthony Selom Dzadra of the Ministry of Energy and Nana Osei Bonsu of the Private Enterprises Foundation.
The rest are John Ashford Aful of the Association of Road Contractors; Frank Raji of the Ministry of Local Government and Rural Development; Godfred D. Boateng, nominated by President Nana Addo Dankwa Akufo-Addo; Prince Benjamin Aboagye and Mrs. Azara Abukari-Haroun, both nominated by the Minister of Roads and Highways.