Mahama announces $2bn annual investment to accelerate industrialisation
Second Vice Chairman of the New Patriotic Party (NPP), Henry Nana Boakye, popularly known as Nana B, has rejected claims that the party’s newly elected First Vice Chairman, Kojo Fosu Boadu, also known as Kojo Bamba, previously served as his driver or bodyguard.
President John Dramani Mahama has unveiled a plan to invest $2 billion each year for four years, as part of the government's $10 billion New Economy Programme, aimed at propelling industrialization, boosting production, generating jobs, and positioning Ghana as a manufacturing and logistics center for West Africa. The initiative allocates 50% of its funding towards agriculture and agro-processing, while the remaining portions support industry and infrastructure to link producers with markets.
The announcement, made on Thursday, October 15, 2026, marked the groundbreaking of the Afienya Industrial Park, which is intended to augment Ghana's industrial capacity, draw investments, and generate employment opportunities. The plan addresses the need for more space at the Tema Export Processing Zone to accommodate new businesses.
Elizabeth Ofosu-Adjare, the Minister for Trade, Agribusiness and Industry and Chair of the Board of the Ghana Free Zones Authority, emphasized the necessity of securing land free from litigation to facilitate industrial growth. Drawing on her extensive legal experience, she highlighted the importance of working with traditional authorities and local communities, stressing that access to undisputed land is crucial for businesses to set up factories, expand operations, and evade expensive delays.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
