President John Dramani Mahama has disclosed that approximately $400 million was spent on the Agenda 111 hospital project under the previous administration without a single facility being fully operational.
The revelation came during his maiden State of the Nation Address in his second term before Parliament on Tuesday.
Agenda 111, an ambitious healthcare initiative aimed at constructing 111 hospitals nationwide, was launched to bridge the country’s healthcare infrastructure gap.
However, President Mahama’s remarks indicate that despite significant financial commitments, none of the hospitals have been completed and made operational.
“It is worth disclosing that USD400m has already been disbursed under agenda 111 project,” President Mahama said, indicating that yet not a single hospital under this gargantuan initiative is serving the people of Ghana.
President Mahama further suggested that the amount already spent could have facilitated the completion and operationalization of at least 22 of the proposed hospitals if resources had been utilized efficiently.
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Meanwhile, President John Dramani Mahama has disclosed that Ghana’s Sinking Fund holds a balance of just $64,000 and GHS143,000, contradicting claims by the previous Akufo-Addo administration that it left substantial reserves for debt repayment.
Delivering his first State of the Nation Address (SONA) of his second term on Thursday, February 27, 2025, President Mahama addressed the financial situation inherited from his predecessor.
“There have been claims that buffers were left for ongoing debt repayments in 2025. The Sinking Fund shows a balance of only $64,000 in the dollar account and GHS143,000 in the Cedi account,” Mahama revealed.
He further highlighted the country’s mounting debt burden and the challenges ahead in stabilizing the economy.
“The repercussions of the accumulation and the economic mismanagement will require extensive work and sacrifices to repair,” he stated.
According to the president, Ghana’s debt servicing over the next four years will total GHS280 billion—comprising GHS150 billion for domestic debt and GHS130 billion for external debt servicing.
“In the next four years, our debt servicing will amount to GHS280 billion and comprises GHS150 billion for domestic debt and GHS130 billion in external debt servicing,” Mahama emphasized.
