President John Dramani Mahama says Ghana plans to invest more than $9 billion in job-creating sectors between 2027 and 2030 under a new economic programme, as his government seeks to turn recent economic stabilisation into employment and infrastructure growth.
The proposed New Economy initiative will target sectors including textiles, garments, commercial agriculture, hospitality and tourism, with the Volta Region expected to be among the beneficiaries, Mahama said at the 2026 Hogbetsotso Festival in Agbogbo.
The president said the programme would be outlined in the 2027 budget, which Finance Minister Cassiel Ato Forson is scheduled to present the following week. He did not provide a breakdown of the proposed investment or specify how much would be allocated to each sector.
“We have focused on stabilising the national economy and restoring it to a path of growth. Your Royal Majesty, I am pleased to report to you that the objective of stabilising the economy has largely been achieved,” Mahama said. “Our next task is to invest in creating opportunities for our people so that they can realise a decent and dignified life.”
As part of the industrial push in the Volta Region, Mahama said 200 acres had been acquired in the Keta area for a light industrial zone dedicated to textile and garment production. Ghana Exim Bank has been commissioned to begin work on the project, which is expected to create at least 3,000 jobs initially and eventually employ as many as 10,000 people when fully operational.
The president also announced allocations for coastal protection, including GH¢685 million to begin works under the West African Coastal Areas Resilience Investment Project, known as WACA. The funding will cover engineering interventions such as breakwaters, groynes and revetments, as well as wetland restoration and livelihood support for affected communities.
An additional GH¢250 million has been allocated in the 2027 budget to continue and complete the Blekusu Phase Two Coastal Protection Project, Mahama said. Coastal erosion has threatened homes, fishing livelihoods and community infrastructure in parts of the Volta Region.
The government is also advancing plans for the proposed Keta Port, with 47 companies having submitted expressions of interest to partner with the Ghana Ports and Harbours Authority. Mahama said due diligence had reduced the list to seven companies, which would proceed to the next stage of developing project designs and arranging financing.
On transport infrastructure, Mahama said most sections of the Eastern Corridor Road are expected to be completed by the end of 2027. He also plans to cut the sod for construction of the Volivo Bridge over the Southern Volta River in the first quarter of next year.
The president said the government had directed that at least 80% of the District Assemblies Common Fund be transferred directly to district assemblies to finance local development projects, including roads, schools and health facilities.
He also announced progress on the stalled Sogakope-Agodome-Tuketa Water Project, saying the government signed a memorandum of understanding with contractor Lesiko in October to allow work on its first phase to resume.
Mahama’s announcements come as the government seeks to direct public investment towards employment-generating industries while maintaining fiscal discipline. The proposed $9 billion programme will be a major test of how the administration intends to finance and implement its next phase of economic policy.
The Hogbetsotso Festival, celebrated by the Anlo people, is being held under the theme “Anlo, Our Heritage and Our Values: Striving to Build One Ghana for a Better Tomorrow.”
