The Volta River Authority (VRA), the 24-Hour Economy and Accelerated Export Development Secretariat (24H+) and the Ghana Infrastructure Investment Fund (GIIF) met in Accra today to begin negotiations on a Master Concession Agreement for the development of the Volta Economic Corridor. The meeting was convened under the authority of the Office of the President with the Chief of Staff, Hon. Dr. Julius Debrah as special guest of honour and Mr. Augustus Goosie Tanoh as chair.
The Volta Economic Corridor is a national project approved by Government in July 2025 and designated as Ghana’s first net-zero corridor. It will harness the Volta Lake and the surrounding land to reduce transport costs and create employment by strengthening agriculture, industry, and trade across Ghana and with neighbouring countries.
The Master Concession Agreement does not affect the hydroelectric power generation system e.g. the Akosombo Dam or management of lake water levels. These remain the sole responsibility of the Volta River Authority.
The three institutions agreed to commence negotiations immediately and to conclude them within three weeks. A joint team will undertake the technical, legal, and financial work, and the parties intend to sign the Master Concession Agreement by 26 August 2026. The commercial terms will be settled in the course of the negotiations.
“The Volta Economic Corridor is a national priority and part of President Mahama’s vision to develop the Volta Lake and its basin. 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”. — Hon. Dr. Julius Debrah, Chief of Staff, Office of the President.
“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”. — Goosie Tanoh, Presidential Adviser, 24H+.
“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, while our duty to the dam and the nation’s power supply stays unchanged”. — Ing. Edward Ekow Obeng- Kenzo, Chief Executive Officer, VRA.
“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, working closely with VRA and the 24H+ Secretariat”. — Mr. Nana Dwemoh Benneh, Chief Executive Officer, GIIF.
The parties invited private-sector investors, financiers, and development partners to align their plans with the development of the Volta Economic Corridor.
