Ghana announces $9 billion economic plan and coastal protection funding

President John Dramani Mahama has unveiled a “New Economy” initiative, pledging to invest over US$9 billion in job-rich sectors between 2027 and 2030. The plan aims to transition from economic stabilization to infrastructure and employment growth, targeting industries such as textiles, garments, commercial agriculture, hospitality, and tourism. The Volta Region is expected to be a primary beneficiary, including a new light industrial zone in Keta for textile production.

In terms of infrastructure, the President announced a GH¢250 million allocation in the 2027 budget to complete the Blekusu Phase Two Coastal Protection Project. This project aims to protect an eight-kilometre stretch of coastline in the Ketu South Municipality from erosion and tidal waves. Additionally, GH¢685 million has been allocated for coastal protection interventions under the West African Coastal Areas Resilience Investment Project (WACA).

On the industrial front, Ghana is actively seeking Chinese investment and technology to expand domestic mineral processing. The government aims to end the export of unprocessed mineral ores, such as bauxite and manganese, by 2030. Meanwhile, discussions with the United States are underway to explore cooperation in data centre development, cloud computing, and cybersecurity to bolster Ghana’s digital economy.