Abstract
Infrastructure financing has been a bane to developing economies over the period.
This can be seen in the infrastructure deficit as reflected in most developing countries
such as Ghana, for instance the Ministry of Finance and Economic Planning, Ghana
(2015), puts the annual infrastructure deficit at $1.5billion. One major model
expected to have corrected the deficit in infrastructure financing is the PPP model;
however this has not happened. The objective of the study was to unearth the major
weaknesses against the PPP in its implementation in Ghana and to come out with
suggested remedies. The study uses exploratory qualitative method to diagnose the
challenges. Ghana’s PPP Policy framework and how it operates was also assessed.
The study revealed several challenges, however the prominent one being the unstable
macroeconomic fundamentals. The study made recommendations, amongst them was
the suggestion to adopt pragmatic steps to grow the economy giving prominence to
key sectors such as the agriculture. Again recommendations emphasized on the need
to deliberately evolve a fiscal policy capable of augmenting and urging Commercial
Banks efforts to lower lending rates so as to improve access to finance to the private
sector. If the required funds can be secured to meet national infrastructure objectives
it is imperative that the private sector can come in to support infrastructure provision.
Thus, PPP becomes a viable alternative. The objective of the study was achieved in
that it answered the question why Ghana has not been able to attract the requisite PPP
to support the transport infrastructure, and proffered lasting recommendations to
enhance the attraction of more funding through PPP.