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Africa / Business

Ghana: Road contractors demand payment of GH5.9 billion

Ghana: Road contractors demand payment of GH5.9 billion
The Association of Road Contractors is demanding that the government pay its members’ GH5.9 billion debt immediately.

According to the road contractors association, its members are struggling to repay bank loans used to complete projects as interest rates rise.

The association said, the government owes its members money, which is affecting their businesses.

According to the Association’s National Chairman, John Afful Jnr, the government only paid a small portion of the total debt.

He urged the government to settle a significant portion of the debt as soon as possible so that they could pay their creditors.

“If you announce to the whole world that you are paying contractors by the end of the year and our suppliers, our creditors, and our banks are chasing us to bring the money into an account what do we do? “As of the end of October 2022, the Ghana Road Fund owes contractors GH5.9 billion,” Afful said on Citi FM in Accra.

He also accused the Social Security and National Insurance Trust (SSNIT) and the Ghana Revenue Authority (GRA) of suffocating the road construction industry.

“SSNIT and GRA are both interested in the road sector. When we go to tell them that the government owes us this much money, the 5% will almost certainly be deducted before they pay us. They should even use it as credit for us; they will say no to the point where officers will tell you to borrow money elsewhere “He stated this.

He did, however, urge the government to develop a policy that will award road contracts based on their budget.

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