New Economy: Ghana Eyes Jobs and Investment Through Creative Arts and Textile Industries

Ghana is positioning its manufacturing, pharmaceutical, textile and creative industries for renewed growth under the proposed US$10 billion New Economy programme, as government seeks to expand local production and create more employment opportunities.

The four-year framework, covering 2027 to 2030, identifies several productive sectors that could benefit from increased investment, improved infrastructure and stronger private-sector participation.

Among the key priorities is the revival and expansion of the cotton, textiles and garments industry, which could create employment while strengthening the domestic manufacturing value chain.

Government is also targeting the development of a pharmaceutical manufacturing hub to increase local production of essential medicines and reduce the country's dependence on imported pharmaceutical products.

The initiative could position Ghana as an important supplier of pharmaceutical products within the West African region, provided the necessary investment, infrastructure and regulatory support are secured.

Tourism, culture and the creative arts have also been identified as important growth areas, with the potential to increase foreign exchange earnings and expand opportunities for entrepreneurs, artists and businesses.

These investments are expected to complement the government's 24-Hour Economy policy, which seeks to encourage businesses to increase production and operate across multiple shifts.

As details of the New Economy programme are expected to feature prominently in the 2027 Budget, investors and businesses will be watching for specific incentives, financing opportunities and implementation timelines.

The broader ambition is to build stronger local industries, expand Ghana's productive capacity and create decent jobs for the country's growing workforce.