President John Dramani Mahama has announced plans to invest more than US$9 billion in job-creating sectors of Ghana’s economy between 2027 and 2030 under the government’s proposed New Economy initiative.
The President said the investment would focus on sectors with the potential to create employment opportunities and improve the livelihoods of Ghanaians.
Speaking at this year’s Hogbetsotso Festival in Agbogbo, in the Anlo traditional area, President Mahama said the initiative would be outlined in the 2027 Budget, which the Minister of Finance would present on his behalf the following week.
“Next week, the Minister of Finance will present the 2027 Budget on my behalf. In this presentation, we will outline our plan for what we call the New Economy. This is a bold initiative that will seek to invest over US$9 billion in job-rich sectors of the economy between 2027 and 2030,” he stated.
He said the Volta Region would benefit significantly from the policy, particularly in textiles, garments, commercial agriculture, hospitality and tourism.
As part of the investment plans, President Mahama announced that the government had commissioned the Ghana Exim Bank to begin work on a light industrial area in the Keta area, with 200 acres of land already acquired for the project.
He said the industrial area would be dedicated to the textiles and garments industry and was expected to create at least 3,000 jobs when operations begin.
“When it begins operations, it will create at least 3,000 jobs, and that this number will eventually grow to 10,000 jobs when it is fully operational,” he said.
The President explained that the investment initiative formed part of the government’s next phase of economic management, following efforts to stabilise the economy since assuming office.
“In the 22 months since we took office, 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,” he said.
He added that the government’s next priority was to invest in opportunities that would enable Ghanaians to enjoy decent and dignified livelihoods.
“Our next task is to invest in creating opportunities for our people so that they can realise a decent and dignified life,” President Mahama stated.
He also highlighted the government’s directive to transfer not less than 80 per cent of the District Assemblies Common Fund directly to local assemblies to finance their development programmes.
According to him, the directive had increased resources available to Metropolitan, Municipal and District Assemblies to undertake infrastructure projects, including CHPS compounds, classroom blocks and feeder roads.
President Mahama, however, stressed the need to ensure that completed facilities were properly equipped, adequately staffed and maintained.
On road infrastructure, he announced that most sections of the Eastern Corridor Road Project would be completed by the end of 2027.
He also disclosed that he would cut the sod in the first quarter of 2027 for the construction of the Volivo Bridge over the Southern Volta River, describing it as an important link connecting the southern and northern parts of the country.
Addressing concerns about coastal erosion, the President announced that GH¢685 million had been allocated to commence coastal protection works under the West African Coastal Areas Resilience Investment Project, popularly known as WACA.
He said the project would involve the construction of breakwaters, groynes and revetments, alongside dune fixation, beach replenishment, wetlands restoration and lagoon and watershed rehabilitation.
The project would also provide livelihood support for affected communities, particularly young people, women and persons with disabilities.
President Mahama further announced an additional GH¢250 million allocation in the 2027 Budget for the continuation and completion of the Blekusu Phase Two Coastal Protection Project.
On the Keta Port Project, he disclosed that 47 companies had submitted expressions of interest to partner with the Ghana Ports and Harbours Authority in developing the facility.
He said due diligence had been completed and seven companies had been shortlisted to proceed to the next stage, which involves completing designs and arranging financing for the project.
He also announced that the administration block of the port, which was started under the previous administration, would be completed by the end of the first quarter of 2027.
On education, President Mahama said land had been secured for the proposed University of Health and Allied Sciences School of Pharmacy in Keta, while a committee established for the project had already inspected the site.
He said the next stage would involve designing the campus before procurement begins.
He also promised to draw the attention of the Ministry of Education and the Ghana Education Trust Fund to requests for additional school infrastructure, including a dormitory block for Anlo-Afiadenyigba Senior High School at Anyako, E-Blocks for the proposed Shime Senior High School and Anlo Senior High School, as well as infrastructure gaps at Atiavi Senior High School and Technical School.
The President further announced progress towards upgrading Ohawu Agricultural College into a university.
On water supply, he revealed that the government had signed a Memorandum of Understanding with contractors, Lesiko, in October to facilitate the resumption and completion of Phase One of the Sogakope-Agodome-Tuketa Water Project, which had stalled because of the country’s debt restructuring.
He also said work on the Kome and Shime roads under the Big Push Agenda was ongoing, while the Ho-Denu Road was progressing steadily and expected to be completed by 2027.
President Mahama added that procurement processes were underway for the reconstruction of the road from Central University at Miotso, near Dawhenya, to Aflao.
He said the government was also working to secure a contractor for the Dabala-Savietula-Keta-Denu Highway, while several roads in the Anlo area, including the Abor-Atiavi road, had been captured under the World Bank Feeder Roads Project.
In the housing sector, the President announced that GH¢500 million had been allocated for district housing projects and assured the people of Anlo that the area would receive its fair share.
He also said the Anloga 24-hour market project was on track, while preparations for the proposed Aflao-Ashigame market had advanced, with land secured and designs completed.
According to him, a technical team from China was expected to visit the site to confirm the designs before the release of a US$30 million grant from the Chinese Government to commence the project.
President Mahama further disclosed that discussions had been initiated during his visit to South Korea for the resumption of financing for the upgrade of the Volta Regional Hospital in Ho to a facility befitting a teaching hospital.
He urged the Volta Regional Coordinating Council to closely monitor the implementation of the various projects to ensure that they were completed and delivered to the people.
The President also encouraged young people in Anlo to pursue education, practical skills and entrepreneurship, while calling on members of the diaspora to support local development through investment, mentorship and professional partnerships.
He said the government’s development agenda was intended to ensure that communities across the country benefited from economic growth and that young people had access to meaningful employment opportunities.
