Ghana begins talks on flagship Volta corridor project

Ghana has initiated formal negotiations for the Volta Economic Corridor project, a significant undertaking under the government's 24-Hour Economy and Accelerated Export Development Programme. This project is poised to develop the Water-Lake Transport Project, establishing a legal framework to guide investment, financing, and implementation.

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Leadership is measured by the changes it brings to the lives of the people.

Chief of Staff Dr. Julius Debrah launched the negotiations in Accra, characterizing the initiative as a landmark intervention. He stated that the project would transform the Volta corridor into a major economic growth zone, unlocking opportunities in trade, agriculture, industry, and tourism while creating jobs and improving transport links between northern and southern Ghana. Debrah emphasized that the Volta Lake should be viewed as a strategic national asset for economic transformation, not just a source of hydroelectric power.

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The Volta Lake should no longer be viewed solely as a source of hydroelectric power but as a strategic national asset capable of driving economic transformation.

Presidential Advisor on the 24-Hour Economy, Mr. Goosie Tanoh, called the negotiations a significant milestone in the government's economic transformation agenda. Studies under the 24-Hour Economy program have confirmed the Volta basin's vast potential in inland water transport, renewable energy, irrigation, manufacturing, and tourism. Tanoh explained that the concession negotiations would create a framework to attract long-term private investment while protecting state and institutional interests.

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Studies undertaken under the 24-Hour Economy programme had confirmed the enormous economic potential of the Volta basin in inland water transport, renewable energy, irrigation, manufacturing and tourism.

Franklin Mensah, Board Chairman of the Ghana Infrastructure Investment Fund (GIIF), confirmed the fund's collaboration with the 24-Hour Economy Secretariat on the Water-Lake Transport Project. He detailed that the project would establish a major north-south transport corridor along the Volta Lake, supported by inland ports to reduce transport costs and boost economic activity. GIIF has approved funding for preparatory work and is leading efforts to secure additional private sector investment.

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The concession negotiations would establish a framework capable of attracting long-term private investment while safeguarding the interests of the state and all participating institutions.