Ghana’s Finance Minister, Cassiel Ato Forson, has announced a bold reimagining of the historic Volta Project as the centerpiece of a modern economic transformation agenda—aimed at unlocking massive investment, industrialisation, and job creation across multiple sectors.
Delivering the 2025 Mid-Year Budget Review in Parliament on Thursday, Mr. Forson revealed that the Volta Lake and its surrounding regions will be turned into a strategic economic corridor under the government’s 24-Hour Economy and Accelerated Export Development Programme, spearheaded by President John Mahama.
Dubbed the Volta Economic Corridor (VEC), the initiative draws inspiration from Dr. Kwame Nkrumah’s original Volta River Project but has been significantly expanded to reflect today’s economic aspirations and regional integration opportunities.
“The VEC is not just a legacy project—it’s a forward-looking economic engine,” Mr Forson said. “It will be driven by four interlinked pillars designed to promote year-round productivity, connectivity, and export competitiveness.”
These include:
- Grow24: To irrigate more than 2 million hectares of farmland, enabling continuous crop cultivation rather than seasonal farming.
- Make24: To establish agro-industrial zones focused on textiles, pharmaceuticals, and food processing.
- Show24: To develop tourism clusters and hospitality destinations along the Volta Lake.
- Connect24: To convert the lake into a reliable inland transport corridor, dramatically reducing freight costs and connecting Ghana’s key regions.
The Minister highlighted that these components are aligned with President Mahama’s national vision of a 24-Hour Economy, which was officially launched on July 2, 2025. The programme seeks to boost productivity, modernise Ghana’s industrial base, and provide sustainable, well-paying jobs.
Mr Forson assured Parliament that targeted policy and financial incentives to support the VEC will be detailed in the 2026 budget.
“This initiative is designed to attract private investment. Government will act as an enabler—not a competitor. Our role is to create the space for Ghanaian innovation and enterprise to thrive,” he added.
If fully implemented, the VEC is expected to stimulate significant economic activity, improve food security, enhance export capacity, and foster inclusive development across Ghana’s heartland.
