Economist Slams Past Government’s Road Spending, Calls for Fiscal Discipline Under Mahama

Finance analyst Senyo Hosi has launched a scathing critique of Ghana’s recent road infrastructure investments, accusing the previous Akufo-Addo-Bawumia administration of squandering public funds on projects that failed to improve highway conditions or generate economic returns.

Speaking on 3FM on February 28, Hosi revealed that despite a surge in road sector spending, the proportion of highways classified as “good” plummeted from 57% in 2016 to 37% by 2023.

“Throwing money at roads without accountability is fiscal recklessness,” Hosi argued, urging President Mahama’s new government to prioritize efficiency over expenditure. “The state’s debt burden leaves no fiscal breathing room. Rationalizing spending isn’t about austerity—it’s about smarter resource allocation.”

Hosi, known for his blunt assessments of Ghana’s economic policies, linked the road sector’s decline to systemic mismanagement. He emphasized that bloated budgets often masked poor project execution and oversight, resulting in deteriorating infrastructure despite record investments. His comments come amid growing public frustration over pothole-riddled highways and stalled projects, which have hampered trade and mobility.

The analyst also challenged the Mahama administration to overhaul governance of state-owned enterprises (SOEs), proposing mandatory competency vetting for CEOs and appointees. “Leadership appointments must hinge on merit, not patronage. Imagine requiring SOE heads to present clear plans during public hearings—it would revolutionize accountability,” he said.

Hosi’s critique taps into broader concerns over Ghana’s fiscal health, with public debt hovering near 80% of GDP. He warned that without urgent reforms to curb wasteful spending, the new government risks inheriting a stagnant economy. His call for “productive expenditure” echoes demands from civil society groups for transparency in infrastructure contracts and outcomes.

As Mahama’s team drafts its first budget, Hosi’s message is clear: Ghana’s recovery hinges not on how much it spends, but how wisely. For citizens enduring daily gridlock and crumbling roads, the proof will lie in asphalt, not accounting spreadsheets.