04/07/2025
The Ghana Infrastructure Investment Fund (GIIF) today signed a landmark Letter of Intent (LOI) with the 24-Hour Economy and Accelerated Export Development Secretariat and African Development Bank Group (AfDB) to support the development of the Volta Economic Corridor, a transformative initiative under the recently launched flagship (24H+) Programme .
Following the successful launch on 2nd July, 2025 by His Excellency President John Dramani Mahama, our collaborative effort aims to transform Lake Volta into a multimodal transport hub that will drive agricultural and industrial growth while enhancing trade connectivity with our neighbouring landlocked countries including Burkina Faso, Mali and Niger.
As the anchor institution for infrastructure, GIIF is committed to leading the establishment of Special Purpose Vehicles (SPVs) focused on: (1) Inland Water Transport and Port Infrastructure, (2) Agro-Ecological Parks and Irrigation Systems and (3) Lakeside Industrial Parks and Logistics Zones.
In his remarks at the signing ceremony, Augustus Goosie Tanoh, Presidential Advisor and Head of the 24H+ Secretariat said; “This partnership signals Ghana’s commitment to mobilise transformative capital, world-class expertise, and public-private partnerships to drive our 24-hour production ambition and unlock export competitiveness,” he said. “AfDB’s collaboration with GIIF and the Secretariat gives us confidence that we can deliver projects that create jobs, raise incomes, and position Ghana as a leading trade and industrial hub under AfCFTA.” He noted that the programme will be private-sector driven, with government seed funding helping to unlock larger pools of private capital.
Our CEO, Nana Dwemoh Benneh, reaffirmed GIIF’s role as a bridge between government and private investors in delivering critical infrastructure. He expressed optimism that the GIIF, supported by government seed funding, is well-positioned to attract the capital necessary for full-scale implementation.
Signing on behalf of the AfDB, Mike Salawou, Director for Infrastructure and Urban Development, emphasized the Bank’s commitment to infrastructure-led transformation across Africa. The project is also in tandem with the African Development Bank’s development priorities to Feed Africa; Industrialize Africa; and Integrate Africa.
The Volta Economic Corridor is a flagship example of how Ghana’s 24H+ Programme is translating national priorities into bankable, high-impact projects. By enhancing inland logistics, supporting industrial and agricultural growth, and unlocking trade with landlocked neighbours, the corridor directly advances Ghana’s commitments under the African Continental Free Trade Area (AfCFTA) Secretariat. It aligns with the objectives of Agenda 2063, the African Union’s blueprint for sustainable industrialization and regional integration.