The Volta River Authority (VRA), the 24-Hour Economy Secretariat (24H+) and the Ghana Infrastructure Investment Fund (GIIF) have begun negotiations to develop the Volta Economic Corridor, a major project aimed at creating jobs, boosting industries and improving trade across Ghana.

The three institutions met on August 5, 2026, to begin discussions on a Master Concession Agreement that will guide the development of the project.

They plan to complete the negotiations within three weeks and sign the agreement by August 26, 2026.

The Volta Economic Corridor was approved by Cabinet in 2025 as Ghana’s first net-zero economic corridor.

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It is expected to make better use of the Volta Lake and surrounding land by improving transportation, supporting agriculture, encouraging industrial development and increasing trade with neighbouring countries.

Chief of Staff, Dr Julius Debrah, said the project was a key priority for President John Dramani Mahama’s government and would help unlock the full economic value of the Volta Lake.

Presidential Adviser on the 24-Hour Economy, Augustus Goosie Tanoh, said the negotiations marked an important step towards attracting private investment while protecting the country’s interests.

The Volta River Authority assured the public that the development of the Volta Economic Corridor would not interfere with its core mandate of generating electricity.

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It said the operation and management of the Akosombo Dam would remain under its control, with measures in place to ensure that power generation was protected throughout the implementation of the project.

The Ghana Infrastructure Investment Fund said it would focus on mobilising private capital and strategic investments to support the project without increasing the government’s debt burden.

The Fund added that the partnership among the institutions would help create a sustainable financing model to develop infrastructure, attract businesses and unlock new economic opportunities across the Volta Basin.

DR/MA