An expert in economic policy and development and lecturer at Pentecost University, Dr Alexander Amo Baffour, has described the Ghana Airports Company Limited’s (GACL) multi-billion-cedi infrastructure project at the Kotoka International Airport as a major investment that could create jobs, stimulate economic activity and generate additional revenue for the state.
President John Dramani Mahama commissioned the multi-purpose project on August 27, 2026, as part of efforts to expand infrastructure around Terminal 3, accommodate increasing passenger numbers and strengthen the airport’s revenue-generating capacity.
The project comprises a seven-storey hotel, a multi-level car park and other commercial components, including a mall, offices and a sky lounge.
According to GACL, the development includes 2,030 parking bays and 370 hotel rooms, comprising a 120-room five-star hotel and a 250-room three-star hotel.
The facility is expected to expand commercial activities around the airport while providing additional sources of revenue through hotel operations, retail and parking services.
Government Applauds Project
Speaking during the commissioning, President Mahama applauded the various stakeholders involved in the project, including the Ministries of Finance and Foreign Affairs and the Ghana Airports Company Limited.
President Mahama said the project was 100 per cent financed from the airport’s operational revenue generated through its Internally Generated Funds (IGF), with no financial commitment from government.
He commended the management of the airport for being deliberate about using its internally generated resources to finance the development.
The Managing Director of GACL, Mrs Yvonne Nana Afriyie Opare, also said the project is expected to increase the company’s non-aeronautical revenue through parking, retail and hotel operations.
She explained that the development is intended to diversify the company’s revenue streams beyond traditional aviation-related activities.
Dr Amo Baffour Commends Investment
Commenting on the project on the sidelines of the commissioning, Dr Amo Baffour said government and the management of GACL deserve praise for being intentional about investing in infrastructure capable of generating economic benefits for the country.
“As an economist, it gives me joy and hope that the President’s commitment to reset the country and make it economically independent is on course,” he said.
Dr Amo Baffour said it was important for government to direct strategic investments towards capital expenditure and tangible programmes and projects because such initiatives could generate greater economic value over the medium to long term.
He explained that while some of the benefits may not be immediate, projects of this nature could create sustainable economic opportunities and contribute to national development over time.
Project to Create Jobs
According to Dr Amo Baffour, the project could provide both direct and indirect employment opportunities, particularly for people living in and around the airport and other communities.
He said once completed and fully operational, the facility would become a multi-purpose area where job seekers could find employment opportunities across different sectors.
Because of the multi-faceted nature of the development, he explained, recruitment would cover several specialised areas, including hospitality, retail, administration, security, maintenance, parking management and other related services.
Dr Amo Baffour said the volume of financial resources and human capital deployed in the construction and eventual operation of the facility would help stimulate economic activity.
He maintained that government’s strategy to expand the economy must begin with investments in projects that can create jobs, generate revenue and increase economic activity.
Unemployment Remains a Challenge
The Pentecost University lecturer acknowledged that although government remains focused on creating employment opportunities, more work needs to be done to reduce Ghana’s unemployment situation.
According to data from the Ghana Statistical Service, Ghana’s unemployment rate declined from 14.9 per cent in 2024 to 13.6 per cent in 2025.
Dr Amo Baffour said the decline is encouraging but argued that more sustainable job-creating investments are still needed to address unemployment and provide opportunities for the growing working population.
He said projects such as the GACL development could contribute to addressing the challenge by creating direct and indirect employment opportunities during construction and, more importantly, sustaining jobs once the facilities become fully operational.
Calls for Revenue-Generating Projects
Dr Amo Baffour further noted that Ghana’s debt stock stood at about GH¢720 billion between 2024 and 2025, making it necessary for government to pursue programmes and policies capable of generating revenue.
He said government must simultaneously build a resilient economic system capable of withstanding global economic shocks.
According to him, investments that generate their own revenue and create economic opportunities are particularly important given the country’s fiscal constraints.
He therefore described the GACL project as an example of how investment in tangible infrastructure can potentially combine job creation, commercial activity and revenue generation.
Project 100 Per Cent Self-Financed
Dr Amo Baffour reiterated that the government of Ghana had not provided GACL or the Ghana Civil Aviation Authority (GCAA) with a direct allocation for the projects.
He described the development as 100 per cent self-financed, with the cost being borne by Ghana Airports Company Limited from its own Internally Generated Funds rather than from taxpayer funds or direct government budgetary allocations.
According to him, the financing model demonstrates how state-owned institutions can use internally generated revenue to undertake major capital projects without relying directly on government funding.
He further noted that the financing is linked to revenue from the new Airport Infrastructure Development Charge, which commenced on April 1, 2026.
The charge is reported to be GH¢100 per domestic passenger ticket, while international passengers pay between US$50 and US$100, depending on the applicable category.
2,030 Parking Bays and 370 Hotel Rooms
GACL describes the development as a multi-billion-cedi project consisting of several components designed to expand the commercial capacity of the airport.
The project includes:
2,030 parking bays
A seven-storey structure
370 hotel rooms
A 120-room five-star hotel
A 250-room three-star hotel
A mall
Offices
A sky lounge
Mrs Yvonne Nana Afriyie Opare said these facilities will provide GACL with new sources of non-aeronautical revenue through parking, retail and hotel operations.
The development is therefore expected to complement the airport’s existing aviation-related revenue streams while expanding its commercial footprint.
Contrast With Terminal 3 Financing
Dr Amo Baffour also drew attention to the difference between the financing of the new development and that of Terminal 3.
According to him, Terminal 3 cost more than US$274 million and was financed through a loan, while the latest project has been presented as being financed through GACL’s internally generated funds.
He said the approach demonstrates the importance of state institutions developing the capacity to generate and reinvest their own revenue into projects that can provide long-term economic returns.
Dr Amo Baffour maintained that such investments could support the government’s broader economic reset agenda by creating jobs, stimulating business activity, expanding infrastructure and generating additional revenue without placing direct pressure on the national budget.
The project is consequently expected to strengthen the commercial potential of the airport while contributing to employment creation and Ghana’s broader efforts to build a more financially sustainable economy.
By Nana Dogbe