Mahama, who led Ghana from 2012 to 2017, warned that the Games would "severely stretch our already precarious finances by hundreds of millions of cedis".

His comments came in an address at the University of Professional Studies Accra during an event entitled "Building the Ghana we want".

Ghana is scheduled to stage the continental multi-sport event for the first time when Accra plays host from August 4 to 19.

However, the West African nation is facing an economic crisis due to record levels of inflation and is currently seeking a bailout from the International Monetary Fund.

"If it is not too late, we can pull out of hosting the Africa Games as it would severely stretch our already precarious finances by hundreds of millions of cedis," said Mahama.

"In our current economic state, public funds must go into projects that are necessary and which meet the pressing needs of our people in the communities.

"Such projects must have tangible and measurable impact on job creation and national development."

There are also doubts over the involvement of the Association of National Olympic Committees of Africa (ANOCA) and the Association of African Sports Confederations (AASC) in the running of the Games.

ANOCA secretary general Ahmed Hashim and International Olympic Committee member Paul Tergat were due to hold crunch talks with African Union (AU) officials and AASC President Gen Ahmed Nasser this week.

The issue for ANOCA centres on the host city contract, with Hashim claiming that the deal his organisation signed was "not confirmative" with the separate agreement made between the AU and the Accra 2023 Organising Committee in April of this year.

Hashim has also expressed concerns over the financial situation in Ghana as he raised doubt over the organisation’s involvement and whether the Games will go ahead altogether.

The AASC has also threatened to boycott the event if a row with the AU is not resolved.