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 assured that government henceforth will put in place a system to raise funds from the capital market, and get bond issued to raise money to be paying contractors, adding that the system will be run such that there will be some certainty in the industry, so that when contractors complete a project and submit their certificate, they are assured that within six months their 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 is determined together with the Road Fund Board to create a game-changer in the sector.
In the past
The Minister for Roads and Highways, Kwesi Amoako-Atta on August 6, 2021 has announced that government has made available some GHS800 million for the payment of works executed by road contractors across the country.
This follows agitations by some contractors over the delayed payment for projects completed, in some cases as far back as 2016, which led to some threatening legal action against the government in a bid to get their monies.
Speaking at inauguration of a 14-member Road Fund Board, Mr. Amoako indicated that the government is committed to paying the outstanding debt owed them.
He stated that “I am happy to announce to you that government has for almost one and half months now started robustly and in earnest payment to contractors, and you would know that payments come from two main areas. Government of Ghana which is from the ministry of finance or the road fund and substantial payments have already been made to contractors around the country and the records are there even as I inaugurate this board on behalf of His Excellency the President”.
“The Ministry of Finance is beginning to release GHS800 million to pay contractors across the country and the documentation to that effect is ready and is being sent to the Ministry of Finance and the Finance Minister has made that money available,” he added.
