Mahama announces $9bn investment plan to create jobs under new economy policy

President John Dramani Mahama has unveiled plans to invest more than $9 billion in sectors with high job creation potential between 2027 and 2030 as part of a new policy initiative dubbed the New Economy.

The initiative is expected to be detailed in the 2027 national budget, which Finance Minister Cassiel Ato Forson is scheduled to present to Parliament on Thursday, November 12.

Speaking at the 2026 Hogbetsotso Festival on Saturday, November 7, President Mahama said the proposed investment would drive economic growth, widen access to employment opportunities and create sustainable livelihoods for Ghanaians.

He explained that the next phase of his government's development agenda would prioritise ensuring that citizens could secure decent and dignified means of livelihood.

“In this presentation, we will outline our plan for what we call the New Economy. This is a bold initiative that will seek to invest over $9 billion in job-rich sectors of the economy between 2027 and 2030.

“The Volta Region is expected to benefit greatly under the New Economy policy, particularly in the areas of textiles, garments, commercial agriculture, hospitality and tourism,” he said.

President Mahama noted that these sectors had been selected because of their capacity to boost economic activity and generate employment, particularly in the Volta Region.

The President also acknowledged ongoing development projects in various districts, including the construction of health facilities, classroom blocks and feeder roads, financed through the District Assemblies Common Fund.

He attributed the increased financial resources available to district assemblies to a directive issued shortly after he assumed office, which requires that at least 80 per cent of the District Assemblies Common Fund be transferred directly to district administrations to facilitate development at the local level.