Ghana plans to direct more than $9 billion into job-creating sectors of its economy between 2027 and 2030 under a new government initiative known as the New Economy. President John Dramani Mahama announced the proposed investment at the Hogbetsotso Festival in Anloga, in the Volta Region, on November 7.
The programme is intended to shift the government's focus from economic stabilisation towards employment creation, domestic production and improved livelihoods. Finance Minister Cassiel Ato Forson is expected to present its details as part of the 2027 national budget on November 12, the Ghana News Agency reported.
Priority sectors include the textile and garment industry, commercial agriculture, and the hospitality and tourism industry. The government expects that the development of these sectors will help expand economic activity and create jobs, primarily for young people.
The Volta Region is expected to benefit from the initiative through projects in textiles and garment production. Mahama also announced plans for a 200-acre light industrial area in the Weta area, which is expected to create at least 3,000 jobs initially and potentially up to 10,000 when fully operational.
The proposed initiative follows earlier government announcements of a broader investment programme aimed at supporting productive sectors and employment. Its final funding structure, sector allocations and implementation arrangements are expected to become clearer when the 2027 Budget is presented.
For Ghana, the programme represents an effort to translate macroeconomic stabilisation into investment, industrial development and employment growth.
