President John Dramani Mahama has highlighted his administration’s $10 billion Big Push Infrastructure Programme, aimed at transforming Ghana’s infrastructure, creating hundreds of thousands of jobs, and completing abandoned and delayed development projects.
Speaking at the Financial Times (FT) Africa Summit in London, President Mahama said the five-year initiative would receive $2 billion annually, with investments initially focused on road construction before expanding to schools, hospitals, irrigation systems and other critical infrastructure.
The President explained that government reforms had created additional fiscal space to support infrastructure development and stimulate economic growth.
Mahama Outlines $10 Billion New Economy Plan
President Mahama also announced plans for a separate $10 billion New Economy Plan, to be financed through domestic resources over four years.
The initiative will target nine job-creating sectors, including agriculture, agro-processing, tourism, energy, pharmaceuticals, textiles and garments, alongside other priority industries.
According to the President, adjustments to Ghana’s primary balance target, agreed upon with the International Monetary Fund (IMF), would help free up resources for productive investment.
He also pointed to improving economic conditions, including currency stability and declining interest rates, as opportunities for Ghana to strengthen domestic investment and accelerate development.
2026 FT Africa Summit | President Mahama on headwinds that should shape Africa’s economic future.
Mahama Calls for Reforms to Global Financial System
Addressing Africa’s economic challenges, President Mahama criticised the international financial system, arguing that African countries face disproportionately high borrowing costs despite contributing relatively little to global greenhouse gas emissions.
He said Africa loses approximately $80 billion annually through interest and debt repayments, while another $90 billion is lost through illicit financial flows, transfer pricing and related practices.
The President also expressed concern about declining Overseas Development Assistance (ODA), noting that aid fell by 23.5% in 2025 and was expected to decline further in 2026.
Despite these challenges, Mahama described Africa as resilient, arguing that the continent continues to demonstrate economic potential even as substantial financial resources leave its economies each year.
Big Push Programme Expected to Support Ghana’s Economic Growth
The Big Push Infrastructure Programme and the proposed New Economy Plan form part of the government’s broader strategy to expand infrastructure, attract investment, create employment and strengthen Ghana’s productive sectors.
If effectively implemented, the initiatives could support road development, improve public services, expand agricultural production and agro-processing, and create opportunities for businesses and workers.
President Mahama called for a fairer global economic order while emphasising the importance of domestic reforms and strategic investments in driving Ghana’s long-term development.
Source: newsthemegh.com