550,000 People to Benefit

The World Bank said the project is expected to directly benefit more than 550,000 people, including about 350,000 farmers, 250,000 women and 310,000 young people.

The investment is also projected to create approximately 25,000 short-term direct jobs through road construction, rehabilitation and maintenance activities.

Improved roads are expected to make it easier for farmers to transport agricultural produce from rural production centres to urban markets. This could reduce travel times and transportation costs while helping farmers access a wider range of buyers.

The World Bank said better connectivity could also enable farmers to move into higher-value agricultural activities and strengthen businesses operating along agricultural value chains.

Focus on Climate-Resilient Roads

Beyond rehabilitation, the project will incorporate climate-resilient designs to ensure roads and drainage infrastructure are better able to withstand climate-related risks.

The initiative will also support the Road Maintenance Trust Fund and introduce Performance-Based Contracts for road maintenance. These measures are intended to ensure that roads rehabilitated under the project remain functional beyond the completion of the five-year programme.

Boost for Agriculture and Food Security

Poor rural connectivity has been identified as a major constraint on Ghana’s agricultural sector. Farmers in remote communities often face difficulties moving crops to markets, especially during periods of heavy rainfall when unpaved or poorly maintained roads can become difficult to use.

By improving all-season road access, the World Bank expects the project to reduce transport costs, shorten journey times and improve the reliability of agricultural supply chains.

The initiative is therefore expected to contribute not only to improved transportation but also to reduced post-harvest losses, stronger agricultural value chains, improved food security and expanded economic opportunities for rural communities.

The project will be implemented by Ghana’s Ministry of Roads and Highways over a five-year period.

Figures published in the CBN’s latest Quarterly Statistical Bulletin showed that spot market transactions made up the bulk of the March sales, with $950.10m channelled through that route and a further $3.31m directed to Ministries, Departments and Agencies.

The March figure represents a dramatic swing from the opening months of 2026. The CBN sold just $58.93m in January and $244.13m in February, meaning March’s intervention was more than 16 times the January level and roughly 291 per cent above February’s sales.

The last time interventions reached a comparable scale was April 2025, when the CBN supplied $1.65bn to the market. Sales cooled significantly after that peak, falling to $838.93m in May, $676.31m in June, and then sliding further to $399.80m in September and $150.10m in October before picking up again towards the close of 2025.

According to Ikazoboh, cement manufacturers rely heavily on gas, coal, and diesel to power their operations. He noted that gas, one of the key energy sources, is sold in United States dollars, exposing manufacturers to exchange rate fluctuations.

He explained that the continued depreciation of the naira against the US dollar has significantly increased production costs, making it difficult for manufacturers to maintain lower prices. “To produce a bag of cement, we need energy, which constitutes about 60 per cent of the production cost. To generate that energy, we use gas, coal or diesel,” he said.

“Gas is sold to us in US dollars, and its price continues to increase. We all know the impact of the exchange rate between the dollar and the naira. As a result, the cost of generating energy keeps rising.”

His remarks offer one of the clearest explanations yet from the country’s largest cement producer on the factors behind recent price increases.