Alan Kyerematen, founder and leader of the Movement for Change, has criticized the government’s approach to financing infrastructure development in Ghana, arguing that the state lacks the capacity and revenue base to fully fund critical projects such as roads, railways, and ports.
Speaking at the IEA Evening Encounter on Tuesday, October 1, 2024, Mr Kyerematen called for a strategic shift, emphasising the need for increased private-sector involvement in infrastructure financing.
He suggested that the solution lies in creating incentives for the private sector to mobilize capital for infrastructure projects.
Kyerematen cited successful models from other countries where private companies have funded large infrastructure projects, recovering their investments through tolls and fees.
“The problem we have with infrastructural development in Ghana is that the government believe that they have the responsibility and the capacity to finance infrastructure in this country. With this, you are dealing with roads, railways, ports etc.
“The government will never have the capacity and the revenue base to finance infrastructure. So, the government should stop thinking that they have what it takes to finance infrastructure in this country.
“The solution is for the government to provide the incentive for the private sector to mobilise the capital to finance infrastructure. You can go to many countries in the world when you drive on all these beautiful roads they are not funded by government.
“These are roads that have been built by the private sector and obviously, it means that the government shall allow them to charge tolls for them to recover their investment.
“We sit here in Ghana and we think that if we allow the private sector to build an airport, it is a security risk. major international airports are owned by the private sector so what are we talking about,” he questioned.
