Economy & Business8 Nov 2026 · about 6 min

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

The brief

The New Economy is President John Dramani Mahama’s proposed development initiative for Ghana. It will direct more than $9 billion into sectors with strong job-creation potential between 2027 and 2030. Its central goal is to help citizens secure decent and dignified livelihoods. The policy will focus on areas such as textiles, garments, commercial agriculture, hospitality and tourism. These sectors are important because the government says they can expand economic activity while employing many people. The Volta Region is expected to benefit especially from this approach. The initiative is expected to be detailed in the 2027 national budget. Finance Minister Cassiel Ato Forson is scheduled to present that budget to Parliament on November 12. Until then, the article describes the New Economy as a proposed plan rather than completed spending.

What is Ghana’s “New Economy” policy?

The policy will focus on areas such as textiles, garments, commercial agriculture, hospitality and tourism. These sectors are important because the government says they can expand economic activity while employing many people. The Volta Region is expected to benefit especially from this approach.

The initiative is expected to be detailed in the 2027 national budget. Finance Minister Cassiel Ato Forson is scheduled to present that budget to Parliament on November 12. Until then, the article describes the New Economy as a proposed plan rather than completed spending.

How much money does the government plan to invest, and over what period?

The government plans to invest over $9 billion through the New Economy policy. The investment period will run from 2027 to 2030, covering four years. President Mahama presented this figure while describing the next phase of his government’s development agenda.

The money is intended for sectors with high potential to create jobs. The article identifies textiles, garments, commercial agriculture, hospitality and tourism as important areas, especially for the Volta Region. These sectors are expected to generate economic activity and employment.

The figure and spending plan are expected to receive fuller detail in Ghana’s 2027 national budget. Finance Minister Cassiel Ato Forson is scheduled to present it to Parliament on Thursday, November 12. The article does not provide a sector-by-sector breakdown of the $9 billion.

Which sectors will receive the investment, and why are they considered capable of creating many jobs?

The New Economy will target textiles, garments, commercial agriculture, hospitality and tourism. President Mahama said these sectors were selected because they have strong capacity to boost economic activity and create employment. The policy therefore links investment with both growth and wider access to work.

For example, the Volta Region is expected to benefit through investment across all five areas. Textiles and garments can support production, while commercial agriculture can strengthen farming-related activity. Hospitality and tourism are also named as regional opportunities. The article does not give individual project details.

The government’s wider aim is to create sustainable livelihoods, not only temporary work. The planned investment will be outlined in the 2027 national budget. Parliament will receive that budget from Finance Minister Cassiel Ato Forson, providing the next stated step for the proposal.

How could investments in textiles, agriculture, hospitality and tourism create jobs and sustainable livelihoods?

Investment in textiles, garments, commercial agriculture, hospitality and tourism could create work by expanding activity in sectors that employ people directly. It could also help Ghanaians build sustainable livelihoods, which President Mahama identified as a central development goal.

The article gives the Volta Region as a concrete focus. Support for textiles and garments could increase production, while commercial agriculture could expand economic activity around farming. Hospitality and tourism could create more work linked to services and visitors. The article does not specify projects or job totals.

The key mechanism is concentrated investment in sectors selected for their employment capacity. That spending is intended to widen access to opportunities and drive growth. Details should appear in the 2027 national budget, so the plan’s actual effects will depend on how it is designed and implemented.

What role will Ghana’s 2027 national budget and Parliament play in turning this plan into government spending?

The 2027 national budget is expected to explain how the New Economy will work in practice. It should set out the proposed investment in job-rich sectors and provide the spending details that are not included in the announcement. This matters because a policy promise needs a formal financial plan.

Finance Minister Cassiel Ato Forson is scheduled to present the budget to Parliament on Thursday, November 12. The article identifies that presentation as the next point at which the initiative will be detailed. It does not state how Parliament will vote or approve specific projects.

Parliament’s role, based on the article, is to receive the national budget. The plan’s movement toward government spending therefore depends on the budget process and its stated allocations. The article confirms the proposed scale and period, but not the final implementation timetable or project list.

Why is the Volta Region expected to benefit particularly from the New Economy policy?

The Volta Region is expected to benefit particularly because the New Economy specifically highlights several sectors connected to its development. President Mahama named textiles, garments, commercial agriculture, hospitality and tourism as key areas for the region.

The government chose these sectors because it considers them capable of boosting economic activity and generating employment. The article links regional benefit to this sector focus, rather than announcing a separate regional funding amount. It also does not identify particular companies, projects or job numbers for Volta.

The policy’s wider purpose is to create sustainable livelihoods and decent means of living. If the 2027 national budget provides the proposed funding, the Volta Region could receive support across its named priority areas. The budget presentation will offer the next details about how the regional opportunity becomes actual government spending.

What is public investment, and how can government spending help an economy grow beyond the jobs created directly by projects?

Public investment means government spending on projects, facilities or economic programmes intended to create public value. In this article, the New Economy is a proposed public investment because the government would direct more than $9 billion into job-rich sectors. Its purpose is growth, employment and sustainable livelihoods.

The article also gives local examples: health facilities, classroom blocks and feeder roads are being built through the District Assemblies Common Fund. Such projects can hire workers directly. In general, they can also create demand for suppliers and improve conditions for businesses and communities, though the article does not measure these wider effects.

The stated mechanism is stronger economic activity. Government spending can put money into sectors and places, while infrastructure can support local development. The government says at least 80 per cent of the Common Fund now goes directly to district administrations. The New Economy’s wider results will depend on future implementation.

This brief was written by AI from the original reporting and checked by other models. Names, figures and quotes come from the source; read it for full context.