Accra: The Volta River Authority (VRA), the 24-Hour Economy and Accelerated Export Development Secretariat (24H+), and the Ghana Infrastructure Investment Fund (GIIF) have commenced negotiations on a Master Concession Agreement aimed at developing the Volta Economic Corridor. The agreement is set to create a commercial and legal framework to encourage private investment in support of industrialization, exports, job creation, and regional trade.
According to Ghana News Agency, the discussions began on Wednesday in Accra and are focused on realizing the Government-approved Volta Economic Corridor, which was designated as Ghana's first net-zero economic corridor in July 2025. The project is intended to leverage the Volta Lake and surrounding lands to reduce transportation costs, boost agricultural production, foster industrial development, and enhance regional trade.
Dr. Julius Debrah, Chief of Staff, emphasized the project's national significance and its alignment with President John Dramani Mahama's vision to unlock the economic potential of the Volta Lake Basin. He noted that the initiative has Cabinet approval and the full support of the Presidency. Dr. Debrah highlighted that the project builds on the initial vision behind the Akosombo Dam's construction, aiming to achieve broader economic objectives that remain unmet despite successful hydroelectric power generation.
Dr. Debrah added that the President anticipates the corridor will serve as a hub for inland ports, integrated transport systems, agro-processing, manufacturing, employment creation, and regional commerce. Mr. Goosie Tanoh, Presidential Adviser on the 24-Hour Economy and Accelerated Export Development Programme, stated that the corridor is part of the Government's strategy to enhance domestic value addition and strengthen industrial value chains.
Mr. Tanoh further explained that the Master Concession Agreement would create a transparent and commercially viable framework to attract long-term private investment while protecting the State's interests. He assured that the agreement would not impact hydroelectric power generation at Akosombo Dam or the management of water levels in Volta Lake, which would remain under VRA's purview. The project aims to establish an integrated productive economy to meet domestic demand and expand exports of higher-value goods.
Mr. Edward Ekow Obeng-Kenzo, CEO of VRA, affirmed the Authority's ongoing responsibility for the safety of the Akosombo Dam, management of the Volta Lake, and electricity generation, while contributing to the lake basin's broader economic development through the partnership. Mr. Nana Dwemoh Benneh, CEO of GIIF, indicated that the Fund would be the lead infrastructure investor, mobilizing long-term capital for the project without burdening the Government's balance sheet.
Mr. Benneh mentioned that GIIF's mandate involves financing nationally significant infrastructure projects, referencing investments in the Takoradi Port expansion, the national fibre optic backbone, and thermal power projects. He highlighted that GIIF has been the designated infrastructure financing partner for the 24-Hour Economy initiative since its inception, having signed a Joint Development Agreement with the program in May 2026. Mr. Benneh concluded by describing the concession negotiations as a crucial step towards establishing a viable framework for implementing the Volta Economic Corridor.