'Volta Lake corridor will create jobs and strengthen 24-hour economy' — Goosie Tanoh

Government has stated that plans to transform the Volta Lake into a major transport and industrial corridor will support the implementation of the 24-hour economy programme by attracting private investment, creating jobs and improving supply chains.

Presidential Advisor on the 24-hour Economy, Goosie Tanoh, says the initiative will involve concessioning some non-power assets of the Volta River Authority (VRA) to develop a multimodal transport system, agro-industrial parks and industrial zones along the lake.

He said the project is expected to unlock the economic potential of the Volta Lake by creating new opportunities for agriculture, manufacturing and regional trade.

Speaking to the media on the sidelines of a programme on the initiative in Accra on Wednesday, August 5, Augustus Goosie Tanoh said the project reflects the vision of Ghana's first President, Dr Kwame Nkrumah, to use the lake as a foundation for economic transformation.

"We recognize that the Volta Lake Waterway harnesses a huge potential to transform the Ghanaian economy. And in fact, this was the original conception of our first president, Dr Kwame Nkrumah," he said.

Goosie Tanoh explained that government, through the 24-hour economy programme, has secured approval to work with the VRA and infrastructure partners to establish a framework for private sector participation in developing the corridor.

He said the planned transport system could move up to eight million tonnes of cargo across the lake while supporting the development of agro-ecological parks and industrial parks along the shoreline.

"Through our work in the 24 economy, recognising the vast potential of this waterway, we went to Cabinet and got approval to begin to discuss with VRA, in partnership with GIF, the development of the Volta Economic Corridor," he stated.

According to him, the project will also expand Ghana's trade links with neighbouring countries, including Burkina Faso, Mali and other parts of the Sahel, while supporting year-round agricultural production through irrigation.

The Presidential Advisor added that the master concession agreement being developed will provide a structured framework to attract private investment while ensuring that communities along the Volta Lake benefit from the economic opportunities.