The Minister for Roads and Highways, Mr Kwame Governs Agbodza, has begun talks with three major local banks, Agricultural Development Bank (ADB), National Investment Bank (NIB), and Ecobank Ghana Limited, to explore new ways of funding road projects across the country.

In a Facebook post published on April 8 2025, Mr Agbodza said the discussions largely centred on how to deal with the government’s long-standing debts to road contractors.

He noted that many of these contractors have borrowed from the same banks and continue to face pressure due to delayed payments.

“With regard to the indebtedness, we will pay,” Mr Agbodza stated. “The reality is that the health of state-owned banks is adversely affected when the government fails to pay contractors on time, especially those who have taken loans from these banks.”

The Minister added that the meetings also touched on a possible return of road tolls, interest rates on delayed payments, and financing major roads under the government’s “Big Push” programme.

Mr Agbodza encouraged the banks to review their lending terms and consider more flexible interest arrangements that would make it easier for contractors to continue their work.

He also called for new ideas to improve how the financial sector supports construction firms, many of which have stalled due to lack of access to affordable credit.

One of the specific issues raised was the resumption of the Cocoa Roads Projects, many of which have been abandoned. Mr Agbodza asked ADB to consider giving more attention to roads in cocoa-growing areas, noting their relevance to the country’s economy.

“Let’s not forget that you are the Agricultural Development Bank, so perhaps you should prioritise cocoa roads over urban projects,” he said.

According to him, better roads in farming areas will not only benefit cocoa farmers but also help to improve the country’s agricultural exports.

The banks, according to Mr Agbodza, expressed interest in supporting the sector through syndicated funding and investing in technologies that can make toll collection more efficient.