Development is what drives a country to achieve fortunes economically and socially. This translates into other sectors of the economy given the rise in comfort for tourist, traders, businesses and reeling opportunities that comes along.
The Kotoka International airport is no exception to the massive infrastructural developments Ghana has undertaken over the years.
The Terminal 3 Access Point project, intiated under the John Dramani Mahama led administration and completed under the current Akufo-Addo led adminstration, has seen scores of Ghanaians and foreigners giving praise to the government of Ghana.
Airport operator and manager, Ghana Airports Company Limited (GACL) broke grounds for the construction of its flagship project (Terminal 3) at Kotoka International Airport (KIA) in March 2016.
The project is a part of GACL’s Capital Investment Programme that entails the construction of a new terminal at KIA, the only international airport in the country, and the rehabilitation of other regional airports managed by GACL.
The new terminal will ease the pressure on the existing two terminals and will handle up to five million passengers a year, with an expansion potential up to 6.5 million passengers.
Cost debate
However, a debate about the cost of the project started immediately the project was completed and a date for opening the new terminal to passengers was announced by authorities a few weeks ago.
It is worthy to note that the total investment of $400 million in the Capital Investment Programme includes renovations to GACL-owned regional airports such as the Kumasi Airport.
In September 2015, the African Development Bank (AfDB) approved a $120m loan with a tenor of up to 15 years for the project. It is the first private-sector investment made by the bank in Ghana’s transport sector.
The remaining amount will be financed partly by AfDB and partly through corporate loans from other development financial institutions and commercial banks.
This shows that the project was largely financed in a deal between AfDB and GACL.
The AfDB is known for stringent anti-corruption and due diligence policies. Their involvement in the project signals a commitment by the airports company to cost integrity.
As it stands now, no evidence has been adduced to show any wrongdoing in terms of the project’s cost.
Bottom-line
The airport expansion supports the country’s ambition to upgrade its vital infrastructure by modernising and transforming the airport into a true gateway to Africa and as a regional aviation hub. It is also expected to contribute to the country’s economy by facilitating market connectivity and by reducing the cost of doing business.
