The Minister of Finance, Dr Cassiel Ato Forson, has disclosed that Ghana has paid US$40 million for armoured military vehicles that have still not been delivered.
He made the revelation while presenting the 2026 Budget Statement in Parliament on November 13, 2025.
According to Dr Forson, the Akufo-Addo administration in 2020 entered into a supplier’s credit agreement worth US$80 million with ELBIT Systems Land Ltd for the procurement of 19 Armoured Personnel Carriers (APCs) and related defence systems.
However, despite half of the amount already being disbursed, the Ghana Army has not received a single vehicle.
“Mr Speaker, on 13th August, 2020, the Government of Ghana entered into a supplier’s credit agreement of US$80 million with Messrs. ELBIT Systems Land Ltd for the procurement of nineteen (19) Armoured Personnel Carriers (APCs) and related defence systems,” he said.
He continued, “Mr Speaker, sadly, despite the disbursement of US$40 million to the supplier, the Ghana Army has not received a single APC.”
Dr Forson told Parliament that the government has begun moves to safeguard public funds and prevent further losses.
He said the existing agreement is being renegotiated and will be brought before Parliament again for approval.
“In light of the significant payment already made and to prevent financial loss to the State, Government has taken steps to renegotiate the existing agreement with the supplier and it will be re-presented to Parliamentfor consideration,” he stated.
Source: Ghanaweb
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