President John Dramani Mahama has announced plans to invest more than $9 billion in job-creating sectors of Ghana's economy between 2027 and 2030. The investment is part of a new government policy called the New Economy.
The plan will focus on expanding economic opportunities and creating sustainable jobs for Ghanaians.
The initiative will benefit the Volta Region, particularly in textiles, garment production, commercial agriculture, hospitality, and tourism. These sectors have the potential to expand business activities and create employment opportunities for residents in the region. The President made the announcement during the 2026 Hogbetsotso Festival durbar at Anloga in the Volta Region.
The New Economy policy is expected to be outlined in the 2027 national budget, which Finance Minister Cassiel Ato Forson will present to Parliament on Thursday, November 12. The policy aims to invest over $9 billion in job-rich sectors of the economy between 2027 and 2030. This investment is expected to have a significant impact on Ghana's economy and job market.
President Mahama also highlighted ongoing development projects across various districts, including health facilities, classroom blocks, and feeder roads funded through the District Assemblies Common Fund. He attributed the increased financial support available to district assemblies to a directive he issued after assuming office, requiring that at least 80 per cent of the Common Fund be transferred directly to district administrations.
The investment plan is part of Ghana's efforts to boost economic growth and create jobs. Ghana's economy has been growing at a rate of 3.2% in Q2 2026.
The New Economy policy is expected to contribute to this growth and create more job opportunities for Ghanaians. According to President Mahama, the policy will seek to invest over $9 billion in job-rich sectors of the economy between 2027 and 2030.
Expert analysis suggests that this investment plan could have a positive impact on Ghana's economy. The investment in job-creating sectors such as textiles, garment production, commercial agriculture, hospitality, and tourism could lead to an increase in employment opportunities and economic growth. However, the success of the policy will depend on the effective implementation and management of the investment plan.
The implications of this investment plan are significant. The creation of jobs and expansion of economic opportunities could lead to an increase in economic growth and a reduction in poverty.
The investment in key sectors such as textiles, garment production, commercial agriculture, hospitality, and tourism could also lead to an increase in exports and a reduction in imports, which could have a positive impact on Ghana's trade balance.