President John Dramani Mahama has announced a $9 billion investment initiative aimed at boosting Ghana’s economy, creating employment opportunities and improving living standards between 2027 and 2030.
Speaking at the annual Hogbetsotso Festival in Anloga in the Volta Region, President Mahama said his administration had largely achieved its objective of stabilising the economy during its first 22 months in office.
He disclosed that the Finance Minister would provide further details of the government’s New Economy policy during the presentation of the 2027 Budget.
According to the President, the initiative will channel more than $9 billion into job-creating sectors, with particular attention to agriculture, manufacturing, textiles, garments, hospitality and tourism.
Mahama said the government’s next priority was to translate economic stability into employment opportunities, business growth and improved livelihoods through responsible public spending.
Volta Region to Benefit from $9 Billion Investment Plan
The President identified the Volta Region as one of the major beneficiaries of the New Economy initiative.
He highlighted ongoing development projects, including CHPS compounds, classroom blocks and feeder roads funded through the District Assemblies Common Fund.
He attributed the increased funding for local development to his directive that at least 80 per cent of the District Assemblies Common Fund be transferred directly to Metropolitan, Municipal and District Assemblies.
Mahama also announced plans for a 200-acre light industrial area near Keta, which will focus on textile and garment manufacturing.
The project, being undertaken through Ghana Exim Bank, is expected to generate at least 3,000 jobs initially, with employment opportunities projected to increase to 10,000 when fully operational.
Mahama Announces Eastern Corridor Road and Volivo Bridge Projects
On infrastructure development, President Mahama announced that the government expects to complete major sections of the Eastern Corridor Road by the end of 2027.
He also disclosed plans to begin construction of the Volivo Bridge over the Southern Volta River in the first quarter of 2027.
The bridge is expected to improve transportation and connectivity between southern and northern Ghana by strengthening a major link along the Eastern Corridor.
Anlo Traditional Leaders Demand Keta Port and Sea Defence Projects
Meanwhile, the Awoamefia of Anlo State, Togbui Sri III, urged the government to ensure the completion of the Blekusu Sea Defence Wall Project and provide clear timelines for the proposed Keta Port.
He also called for the completion of plans to relocate the Eastern Naval Base to Keta to improve maritime security.
Additionally, the traditional leader appealed for concrete action towards establishing the proposed University of the Blue Economy and Coastal Ecosystems in Anlo to create educational and employment opportunities for young people in the maritime industry.
President Mahama’s announcement places job creation, industrialisation, infrastructure development and private-sector investment at the centre of the government’s economic transformation agenda.
Source: newsthemegh.com