The founder and leader of the Movement for Change, Alan Kwadwo Kyerematen, has criticized the government’s current approach to financing infrastructural development in Ghana.
Mr. Kyerematen argues that the state lacks the financial capacity and revenue base to fully support crucial projects like roads, railways, and ports.
Speaking at the IEA Evening Encounter on Tuesday, October 1, 2024, Alan Kyerematen, called for a shift in strategy, advocating for greater involvement of the private sector in infrastructure financing. He emphasized the need for the government to create incentives that would encourage private companies to mobilize capital for these projects.
He highlighted examples from other countries where private companies have successfully funded major infrastructure developments and recouped their investments through mechanisms like tolls and fees. He noted that the belief that government alone can fund infrastructure is flawed and that Ghana must look to the private sector for solutions.
He also dismissed concerns about security implications of private ownership of key infrastructure, citing international examples where private entities manage large-scale projects, including airports, without compromising security.