Former Deputy Energy Minister and legal practitioner Andrew Egyapa Mercer has questioned the adequacy of the GH₵13 billion allocated in the 2025 budget for the government’s “Big Push” infrastructure agenda, warning that it may not be enough to deliver on key promises.
Speaking on Joy FM’s Super Morning Show on Thursday, July 24, Mr Mercer said while the government’s commitment to infrastructure development was welcome, the funding projected over a 10-year period raised doubts about its effectiveness.
“I’m not so sure whether the GH₵13 billion that they provided for in the 2025 budget for a 10-year projection to be expended on infrastructure is enough,” he said.
“That’s their commitment to the people of Ghana. They admit that it’s a social contract. We would expect them to deliver.”
The “Big Push” is a policy initiative intended to scale up national infrastructure across sectors.
But in Mr Mercer’s view, the numbers don’t quite add up, especially when tied to related projects like the proposed Women’s Development Bank.
Criticising the bank’s capital provision under the same budget, he explained, “The capital, for example, for a bank that provides financial support in the market is in the region of 400 million. If you provision 43 or so million for a 400 million or so minimum capital requirement for a bank, I’m not so sure whether that meets the expectation or the commitment that you made to the women of Ghana.”
He added that under Ghana’s current financial regulations, every bank must meet the standards of a universal bank.
“There are no categories of licences in the banking space anymore, unlike in the past, where we had various categories,” he said. “Now, every bank in Ghana is a universal bank.”
He also dismissed the possibility of a reduced-capital setup under current law.
“Unless, of course, you point to me a licensing regime under the Banking Act that allows the central bank to issue licences other than universal bank,” he added.
Meanwhile, the Minister for Finance, Dr Cassiel Ato Forson, will today present the much-anticipated 2025 Mid-Year Budget Review to Parliament, with all eyes keenly fixed on whether the government will maintain its original expenditure envelope or seek a supplementary budget in response to emerging fiscal and political pressures.
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