Govt set to pay contractors after audit

The Auditor-General, Johnson Akuamoah Asiedu, is expected to present an interim audit report on outstanding contractor claims in the coming days, paving the way for the government to begin payments.

This development was disclosed during a meeting between Finance Minister, Dr Cassiel Ato Forson, and Ecobank Group CEO, Jeremy Awori. 

The government inherited contractor arrears amounting to GH¢67 billion and has committed to auditing and settling these obligations over a four-year period.

An amount of GH¢13 billion has been allocated in the 2025 Budget to begin clearing the verified claims.

Government’s commitment

Dr Forson emphasised the administration's desire to avoid the accumulation of fresh arrears.  

He mentioned recent changes to the Public Financial Administration Act, which are meant to increase discipline and openness in public procurement and contract administration.

“We have learnt lessons from the past, and we are putting in place measures to ensure we do not end up in the same situation again,” he said.

Economic recovery

Ecobank Ghana was urged to deepen its support for Ghana’s economic recovery efforts, particularly in private sector development and agriculture.

Dr Forson emphasised the importance of private sector financing in the recovery process, adding that government would continue to engage financial institutions to ensure adequate support for businesses.

Ecobank support

The Chief Executive Officer (CEO), Mr Awori, reaffirmed the bank’s interest in supporting Ghana’s recovery and indicated readiness to scale up lending and strategic cooperation with the government.

“Ghana’s resilience is impressive, and we at Ecobank are fully committed to being part of the solution. We are prepared to work closely with the government and other stakeholders to unlock opportunities, especially in the private sector and agriculture,” he said.

Collaborative effort

The Minister for Energy and Green Transition, Mr John Abdulai Jinapor, welcomed the collaborative approach and expressed optimism that the partnership between government and private sector partners such as Ecobank would help drive a sustainable recovery.

The Auditor-General’s pending interim report is expected to verify and validate contractor claims, paving the way for the commencement of payments. 

This is seen as a crucial step in easing the financial strain on contractors and unlocking funds for ongoing and future projects.

Government officials have reiterated that clearing the arrears is not just about paying debts but also restoring confidence in the economy. 

The settlement of verified claims is expected to boost employment, stimulate economic activity and contribute to Ghana’s long-term growth.