President John Dramani Mahama has stated that following the successful stabilization of Ghana’s macroeconomy, evidenced by falling inflation, easing commercial interest rates, and exchange rate predictability, the central priority of his administration is to convert this economic progress into large-scale industrial output and direct employment.
Speaking during a series of industrial engagements in Afienya and Tema on Thursday, President Mahama emphasized that macroeconomic gains must translate into visible improvements in household incomes and job opportunities for Ghanaian youth.
“The stability of the Ghanaian economy, which is reflected in reducing interest rates, a stable currency, and lower inflation, is attracting more interest in the Ghanaian economy,” President Mahama stated. “With your support, we have stabilised the economy, but our next task is to turn that progress into greater production, higher incomes, and decent and sustainable jobs.”
The $10 Billion New Economy Programme
To achieve this goal from stability to industrial output, President Mahama talked about the rollout of the New Economy Programme, a $10 billion policy framework executing $2 billion in annual direct state investments across high-impact, job-rich sectors over the next four years.
Under the blueprint, half of the annual $2 billion allocation will target agriculture, irrigation, and agro-processing enclaves, while the remaining half will fund industrial infrastructure, power distribution, waste treatment facilities, and transport links connecting local factories to domestic, regional, and international markets.
“With the New Economy Programme, Ghana can increase production, create jobs, reduce dependence on imports, and expand exports,” the President noted, adding that the Minister for Finance will present the complete legal and financial framework to Parliament in the 2027 Budget.
The President’s assertion came as he officially broke ground for the construction of the 1,238-acre Afienya Industrial Park, an extension of the Ghana Free Zones Authority enclave designed to accommodate more than 120 companies.
With registered Foreign Direct Investment (FDI) surging from $624 million in 2024 to $2.62 billion in 2025, and existing zones like Tema reaching full capacity, President Mahama highlighted that Afienya provides a litigation-free, fully serviced hub, equipped with water, high-voltage power, waste treatment, and direct rail links to Tema Port via the Tema-Mpakadan standard-gauge railway.
Priority sectors slated for the Afienya park include cocoa and cashew processing, oil palm refining, textiles and garments, pharmaceuticals, automotive assembly, light engineering, and green manufacturing.
