President John Dramani Mahama has disclosed that several major airport infrastructure projects are being financed through the balance sheets of the Ghana Airports Company Limited (GACL) and the Ghana Civil Aviation Authority (GCAA), without direct financial support from the government.
Speaking at the sod-cutting ceremony for a seven-storey multi-purpose car park and hotel complex at the Accra International Airport on Thursday, August 27, the President said the financing model demonstrated the financial capacity of Ghana’s aviation institutions.
He cited the construction of a new control tower for the Ghana Civil Aviation Authority, the refurbishment of Terminal 2, the transfer concourse connecting Terminals 2 and 3, as well as the new car park, hotel and entertainment complex as projects being undertaken through the institutions’ balance sheets.
According to President Mahama, the government has not provided direct funding for the projects.
“For the record, all these airport projects, the Ghana Civil Aviation’s new control tower, the refurbishment of Terminal 2, the transfer concourse between Terminal 2 and 3, and currently this airport’s parking lot and entertainment and hotel space, are being funded entirely on the balance sheet of the Ghana Civil Aviation Authority,” he said.
He added that other airport-related developments were being financed through the balance sheet of the Ghana Airports Company Limited.
“The government of Ghana has not given any of the two institutions one single cedi for these projects,” President Mahama stressed.
The President commended the Minister for Transport, the boards and management of the aviation institutions, consultants, contractors and other stakeholders involved in delivering the projects.
He said the financing model was consistent with his administration’s vision of encouraging state-owned institutions to leverage their financial strength to undertake strategic investments without relying solely on government funding.
“This is what we want to see. Develop our country, but don’t go to others and ask for money,” he stated.
President Mahama expressed confidence that the ongoing airport projects would significantly modernise Ghana’s aviation infrastructure and enhance the country’s position as a competitive aviation hub on the African continent.
