The flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has criticized the government for allegedly mismanaging an $11.5 billion loan facility acquired over the past eight years.
Mahama argued that these funds, if efficiently utilized, could have been directed toward transformative projects to advance Ghana’s development to the level of global cities like Dubai.
Speaking at a special prayer service with the Muslim community at the Great Hall of Kwame Nkrumah University of Science and Technology (KNUST) in the Ashanti Region, Mahama compared the current government’s borrowing record to his own tenure.
He noted that during his administration, a $3.5 billion loan was used to finance significant infrastructure projects, including the expansion of Tema Harbour, the construction of Terminal 3 at Kotoka International Airport, and other developmental initiatives aimed at boosting the nation’s progress.
“President Nana Addo Dankwa Akufo-Addo borrowed to the tune of $11.5 billion in just five years. Despite all the developmental projects I championed as president, we only borrowed $3.5 billion,” he said.
Mahama emphasized that if his administration had access to such an amount, Ghana’s development would have mirrored that of cities like Dubai.
“If I had borrowed $11.5 billion during my presidency, Ghana would have been developed like Dubai,” he added.
Mahama’s comments highlight the ongoing political discourse over borrowing and resource management as the country gears up for the 2024 general elections.