Ghana has taken a major step toward unlocking the economic potential of the Volta Lake as the Volta River Authority (VRA), the 24-Hour Economy and Accelerated Export Development Secretariat (24H+), and the Ghana Infrastructure Investment Fund (GIIF) commence negotiations on a master concession agreement for the Volta Economic Corridor.

The meeting in Accra, convened under the authority of the Office of the President, was attended by Chief of Staff, Dr. Julius Debrah and chaired by the Presidential Adviser on the 24-hr economy, Augustus Goosie Tanoh.

Approved by Cabinet in July 2025, the Volta Economic Corridor is designated as Ghana’s first net-zero corridor. 

The project seeks to harness the Volta Lake and surrounding lands to reduce transport costs, create jobs and drive a structural shift from exporting raw commodities to processed goods.

Government officials say the corridor will integrate agriculture, industry and trade across Ghana and with neighboring countries while expanding the country’s industrial base and strengthening value chains.

“The Volta Economic Corridor is a national priority and part of President Mahama’s vision to develop the Volta Lake and its basin,” Dr. Julius Debrah said. 

He added: “Approved by Cabinet and backed by the Presidency, it will realise the full economic value of the largest man-made lake in the world, and Government is committed to seeing it delivered.”

Mr. Goosie Tanoh also said the talks mark a shift from policy to implementation.  

“We are building an integrated economy, one that produces what it consumes and exports more value than it imports. The Volta Lake is at the centre of this economy. 

“This meeting moves us from agreement in principle to structuring a bankable, transparent concession that protects the interests of the State while unlocking the private investment the corridor needs.”

VRA Chief Executive Officer, Ing. Edward Ekow Obeng-Kenzo assured that the agreement will not affect hydroelectric power generation or the lake water management at Akosombo Dam which remains VRA’s sole responsibility.  

“For sixty years the Volta Lake has powered Ghana, and its safety and its waters remain firmly the responsibility of VRA. We now welcome the opportunity to unlock its wider economic potential in partnership with 24H+ and GIIF.”

On the part of the GIIF CEO, Nana Dwemoh Benneh, he said his outfit will lead investment mobilization for the corridor.  

“GIIF is the lead investment vehicle for the Volta Economic Corridor. Our task is to bring the capital together to develop the potential of the Volta Lake, with financing that does not rest on the Government's balance sheet.”

The three institutions agreed to conclude negotiations within three weeks with the master concession agreement targeted for signing by August 26, 2026. 

A joint technical, legal, and financial team will drive the process.

The corridor will connect the Tema Port via rail to the Akwamu inland port, then 415km across the Volta Lake to Buipe and Yapei, with onward links to Tamale and the Sahel. 

It will include agro-ecological parks, industrial hubs, aquaculture, floating solar, and bonded transit facilities.

The parties have also invited private investors and development partners to align with the project.

The 24-Hour Economy & Accelerated Export Development Programme is Ghana’s flagship economic transformation agenda focused on production, supply chain efficiency and human capital to build a self-reliant, competitive economy.