Mahama Criticizes Government for Alleged Mismanagement of $11.5 Billion Loan

Former President John Dramani Mahama, the flagbearer of the National Democratic Congress (NDC), has accused the government of mismanaging $11.5 billion in loans acquired over the past eight years.

Speaking at a special prayer service held for the Muslim community at the Great Hall of the Kwame Nkrumah University of Science and Technology (KNUST) in the Ashanti Region, Mahama emphasized that such funds, if efficiently utilized, could have significantly advanced Ghana’s development.

Comparing the current administration’s borrowing practices to his tenure, Mahama noted that his government, with a $3.5 billion loan, financed key infrastructure projects such as the expansion of Tema Harbour, the construction of Terminal 3 at Kotoka International Airport, and various other development initiatives.

“President Nana Addo Dankwa Akufo-Addo borrowed to the tune of $11.5 billion just within five years,” Mahama said. “Despite all the developmental projects that I championed when I was president, we only borrowed to the tune of $3.5 billion. If I had borrowed to the tune of $11.5 billion, Ghana would have been developed like Dubai.”