John Mahama unveils $10bn investment plan for nine sectors

President John Mahama has announced a five-year, $10 billion investment strategy aimed at transforming nine priority sectors of the Ghanaian economy. This initiative, which forms a core component of the proposed New Economy Policy, will involve an annual allocation of approximately $2 billion. The plan is designed to drive economic recovery, stimulate large-scale job creation, and provide sustainable livelihood alternatives to illegal mining, commonly known as galamsey. The President indicated that the formal rollout of these financial measures is expected to be integrated into the 2027 Budget.

The investment will target critical areas including agriculture, pharmaceuticals, textiles, and tourism. President Mahama emphasized the ambition to establish Ghana as a primary pharmaceutical hub for the West African sub-region, reducing the nation's reliance on imports. In the agricultural sector, the government plans to develop extensive oil palm plantations and expand rubber cultivation to boost industrial raw materials. Furthermore, the President highlighted the Ghana Cocoa Board Act, 2026, which guarantees farmers a minimum of 70% of the prevailing global market price for their cocoa, ensuring better returns for rural producers.

By focusing on these nine key industries, the administration seeks to improve access to credit for the private sector and strengthen the capacity of local businesses to compete globally. The President noted that providing viable employment opportunities in these diversified sectors is a critical strategic move to address the environmental and social challenges posed by illegal mining. The transition under the New Economy Policy is expected to enhance foreign exchange earnings and bolster the overall resilience of the national economy against global shocks.