Ghana has signed a letter of intent with the African Development Bank (AfDB) to turn Lake Volta into a key transport and industrial corridor, linking the country’s ports to land‑locked neighbours in the Sahel.
The agreement supports Ghana’s 24‑Hour Economy and Accelerated Export Development Programme (“24H+”), which aims to run factories around the clock and boost exports.
Under the plan, the government will create three special‑purpose companies to attract private investment in:
- inland water transport and port facilities
- irrigated agro‑parks along the lake
- lakeside industrial and logistics zones
The new companies will sit under the Ghana Infrastructure Investment Fund (GIIF), which will seek additional financing from development partners and commercial lenders.
Presidential adviser Goosie Tanoh, who heads the 24H+ Secretariat, said the deal shows Ghana’s “commitment to mobilise transformative capital” and create jobs through public‑private partnerships.
GIIF chief executive Nana Dwemoh Benneh said seed money from the state would help leverage larger sums from investors.
Mike Salawou, AfDB director for infrastructure and urban development, said the bank would explore co‑financing options for key projects and help raise more funds.
Backers say the Volta Economic Corridor will improve transport links to Burkina Faso, Mali and Niger, support agriculture and industry, and strengthen Ghana’s role in the African Continental Free Trade Area (AfCFTA).
No timetable or cost estimate has yet been released.
