By Jibril Abdul Mumuni
Accra, Oct. 22, GNA – Experts have identified weak project preparation, limited domestic capital mobilisation and gaps in legal frameworks as key obstacles to securing sustainable financing for infrastructure development in Ghana.
They said addressing those challenges would help attract private investment, close funding gaps and ensure infrastructure projects delivered their intended economic benefits.
The experts made the proposals at the maiden Ghana Infrastructure Summit in Accra.
The summit was organised by Zutari, an engineering and advisory company, with support from PricewaterhouseCoopers (PwC) and Bentsi-Enchill, Letsa and Ankomah, a law firm.
It was held on the theme: “The Big Push: Moving Beyond Ambition to Bankability to Build Ghana’s Future-Ready Infrastructure.”
The discussions came as the Government pursued major infrastructure projects under its flagship Big Push Programme.
The programme seeks to accelerate economic transformation through investments in roads, bridges and other critical infrastructure.
However, limited fiscal space and financing constraints continue to raise concerns about the sustainability of infrastructure funding.
Mr Tlhabeli Ralebitso, Africa Chief Executive of Zutari, said clearly defined project objectives and expected outcomes were essential for securing financing.
He said project developers must demonstrate the economic value of infrastructure investments to attract funding.
“It is really the effort of turning a project into infrastructure that works and delivers the intended value. If the objective is to increase the volume of goods for export, then the bankability lies in the ability of the project to support that increase in exports,” he said.
Mr Ralebitso identified financing gaps as a major constraint to infrastructure development across Africa.
He said many countries relied on costly external funding, resulting in delays in project implementation.
Mr Ralebitso called for the mobilisation of domestic capital, including pension funds, to finance infrastructure projects.
He also urged governments to create policies that encouraged private sector investment and ensured sustainable returns to build investor confidence.
Mr Winfred King, Partner and Infrastructure Lead for PwC West Market Area, said Ghana needed to attract more private and international capital to finance infrastructure projects.
He said inadequate project preparation often prevented viable proposals from securing funding despite the availability of capital globally.
“There is a lot of international capital available. The challenge is the preparation of bankable projects. Everybody wants to see how well projects have been prepared before committing funding,” he said.
Mr King urged the Government to allocate resources to project preparation to improve investor confidence and unlock financing opportunities.
He also raised concerns about abandoned infrastructure projects across Africa, saying incomplete projects resulted in substantial losses of public resources.
Madam Elizabeth Ashun, Partner at Bentsi-Enchill, Letsa and Ankomah, said technical expertise and financing alone were insufficient to ensure successful project delivery.
She said a robust legal framework was necessary to translate infrastructure plans into viable, bankable projects.
Madam Ashun said Ghana had strengthened its legal and regulatory environment through the enactment of various infrastructure-related laws.
She said the existing laws provided a sound basis for infrastructure development, provided they were effectively implemented.
GNA
Edited by Kenneth Sackey
Reporter: Jibril Abdul Mumuni
Email: [email protected]