Accra: President John Dramani Mahama has disclosed that under the 24-Hour Economy Policy, one of its boldest proposals is the development of the Volta Lake Economic Corridor. This corridor, centered on the Volta Lake and the Volta Basin, is set to become a national production zone and logistics hub.
According to Ghana News Agency, the plan includes cultivating over a million hectares of arable lakeside land, revitalizing the fishery sector on the lake, and creating a chain of industrial parks that produce goods for domestic and regional markets. President Mahama emphasized the transformation of the lake into a transport highway to move food, people, and goods more efficiently than the current congested roads allow. This announcement was made during a multi-sectoral engagement on the implementation of the '24-Hour Economy Policy' with business leaders and captains of industries at the Presidency in Accra.
The President outlined the development of new floating assets, lake ports, and long-term investment partnerships in coordination with the Volta River Authority and the private sector. He stressed the importance of moving beyond just hydro-power to unlock the broader economic potential of the Volta Lake. The Volta Lake Corridor is part of a broader plan that identifies priority value chains across all regions, including agro-processing, pharmaceuticals, textiles, light manufacturing, tourism, digital services, and the creative economy.
On infrastructure, the Ghana Infrastructure Investment Fund will lead efforts to develop industrial parks, logistics hubs, and upgrade transport links. For financing, the Development Bank of Ghana and the Venture Capital Trust Fund will scale up value chain finance for SMEs, cooperatives, and agribusiness in priority sectors. The program also includes developing local land banks that are zoned, titled, and investment-ready to reduce delays for investors.
The Aspire-24 sub-programme will be launched to train young people for shift-based work, digital roles, and entrepreneurship. Incentives will include tax reliefs on machinery and inputs, fast-track regulatory approvals, and export facilitation. The 24-Hour Economy Programme will be decentralized, with each district establishing its own Implementation Task Force, allowing regions to lead their path of industrial transformation based on natural comparative advantages.
President Mahama confirmed that the plan is structured, sequenced, and inclusive, with implementation beginning. The 24-Hour Secretariat is set to start a detailed programme design and investment packaging. A draft programme document of the 24-Hour Economy Policy will be released publicly on Tuesday, June 3, for broader consultations, with the official launch of the 24-Hour Plus programme scheduled for July 1st, Ghana's Republic Day.
