GHANA LAUNCHES BOLD PLAN TO TURN LAKE VOLTA INTO WEST AFRICA’S TRADE POWERHOUSE

AfDB backs Ghana transformative step to unlock economic potential through infrastructure-led growth.

Ghana Trade Industrial hub Lake volta Afdb Partnership Transformation Investment West africa.
Goosie Tanoh Presidential Advisor and Head of the 24 Hour Economy Secretariat, with Salawou Mike Moukaila Bamidele,  Director of Infrastructure and Urban Development at the AfDB, and Nana Dwemoh Benneh, Chief Executive Officer of the GIIF.
Goosie Tanoh Presidential Advisor and Head of the 24 Hour Economy Secretariat, with Salawou Mike Moukaila Bamidele, Director of Infrastructure and Urban Development at the AfDB, and Nana Dwemoh Benneh, Chief Executive Officer of the GIIF.


Ghana is aiming to transform Lake Volta into a regional trade and industrial hub, following a new partnership sealed with the African Development Bank (AfDB). The deal, formalized on July 3 in Accra, marks a pivotal step in the government’s strategy to unlock economic potential through infrastructure-led growth.

The signed Letter of Intent, backed by the AfDB, outlines a bold roadmap for the Volta Economic Corridor a flagship project under Ghana’s 24-Hour Economy and Accelerated Export Development Programme (24H+). At its core, the initiative aims to reposition Lake Volta as a logistics and industrial hub, serving not only Ghana but also landlocked neighbors like Burkina Faso, Mali, and Niger.

“This partnership signals Ghana’s commitment to mobilize transformative capital, world-class expertise, and public-private partnerships to drive our 24-hour production ambition and unlock export competitiveness,” said Augustus Goosie Tanoh, Presidential Advisor and Head of the 24H+ Secretariat.

Designed to be led by the private sector, the Volta Economic Corridor will receive seed capital from the government to catalyze further private investment. The Ghana Infrastructure Investment Fund (GIIF) will anchor the initiative and oversee the creation of three Special Purpose Vehicles (SPVs) focused on, Inland water transport and port infrastructure, Agro-ecological parks and irrigation systems, Lakeside industrial parks and logistics zones

Nana Dwemoh Benneh, CEO of GIIF, affirmed the fund’s readiness to bridge government ambition with private capital. “African Development Bank welcomes this opportunity to deepen our collaboration with Ghana by working closely with the 24H+ Secretariat and the GIIF to support the success of the Volta Economic Corridor project,” he said. 

Mike Salawou, Director for Infrastructure and Urban Development at AfDB, who signed on behalf of the Bank, said the project is aligned with AfDB’s commitment to regional integration, food security, and industrialization.

The Volta Economic Corridor is expected to catalyze growth in agriculture, logistics, and manufacturing while serving as a key driver for Ghana’s export-led economy and AfCFTA integration. It also supports the African Union’s Agenda 2063 goals for sustainable, continent-wide development.

By tapping into the vast potential of Lake Volta, Ghana is not only reimagining its inland waterways but also creating a model for infrastructure-driven prosperity across West Africa.

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