Finance Minister Dr Cassiel Ato Forson has announced a series of major investments in energy, agriculture, aviation and infrastructure under the 2027 Budget Statement and Economic Policy.

The plans include a US$200 million nuclear readiness programme, a target to process at least 50 per cent of Ghana’s cocoa locally by 2028, and US$2.2 billion for energy infrastructure.

Presenting the 2027 Budget to Parliament on Thursday, November 12, 2026, Dr Forson said the initiatives form part of the government’s four-year US$10 billion New Economy Programme, which will run from 2027 to 2030.

The programme is designed to expand local production, improve infrastructure, create jobs and increase Ghana’s export capacity.

US$200 Million for Nuclear Power Readiness

The government will invest US$200 million in a 24-month nuclear readiness programme scheduled to run from January 2027 to December 2028.

According to Dr Forson, the programme will prepare Ghana to enter into an engineering, procurement, construction and financing agreement for a fully state-owned nuclear power plant.

The preparations will cover site assessments, technology selection, environmental studies, financing arrangements, licensing, nuclear safeguards and emergency planning.

The Finance Minister clarified that completing the readiness programme in 2028 does not mean Ghana will begin generating nuclear electricity that year.

The government also plans to train more than 2,000 scientists to develop local expertise for the country’s proposed nuclear energy programme.

Ghana Targets 50% Local Cocoa Processing by 2028

Ghana is targeting the local processing of at least 50 per cent of its cocoa production by 2028, with plans to increase the figure to 100 per cent by 2030.

Dr Forson said the government wants to expand domestic processing beyond the traditional grinding of cocoa beans.

The plan includes producing cocoa liquor, butter, cake, powder, chocolate, cosmetics and other finished products.

The government believes increasing local processing will allow Ghanaian businesses and workers to retain a greater share of the value generated from the country’s cocoa industry.

The policy is also expected to support industrial development, create employment and reduce the country’s dependence on exporting raw agricultural commodities.

US$2.2 Billion for Energy Infrastructure

The government has earmarked US$2.2 billion for energy infrastructure under the New Economy Programme.

The investment is expected to support electricity generation, transmission improvements and efforts to reduce the cost of power for households and businesses.

Key projects include a proposed 1,450-megawatt state-owned thermal power plant, a 600-megawatt solar power facility supported by battery storage and improvements to the national electricity transmission network.

The government also plans to phase out emergency power plants by 2030 and reduce the cost of electricity generation from approximately 16 US cents to 8 US cents or less per kilowatt-hour.

The Finance Minister said reliable and affordable electricity would be essential to support industrialisation and expand local manufacturing.

GH¢69 Million Set Aside for Preparatory Work on National Airline

The 2027 Budget has also made provision for the establishment of a new national airline.

Dr Forson announced that GH¢69 million has been set aside for preparatory works towards the project.

The amount forms part of the GH¢724 million allocated to the Ministry of Transport.

The ministry’s allocation also includes GH¢400 million for additional high-occupancy buses and GH¢174 million for ongoing railway development.

The GH¢69 million is intended to support the preparatory stage of the proposed airline. It does not represent the full cost of establishing and operating the carrier.

US$1 Billion Pwalugu Dam to Support 25,000 Hectares of Vegetable Production

The government will invest US$1 billion in the Pwalugu Multipurpose Dam to support agricultural production, irrigation, aquaculture and hydropower generation.

Dr Forson said the project will provide irrigation water for more than 25,000 hectares of land dedicated to vegetable production.

The facility is expected to support year-round farming, improve water security and strengthen agricultural businesses along the White Volta corridor.

The dam will also support aquaculture through fish cages in its reservoir and generate hydropower for agro-industrial activities in the area.

According to the Finance Minister, the first phase of the project is expected to be ready by early 2029, with full completion scheduled for December 2030.

A Wider Push for Economic Transformation

The announcements form part of the government’s broader US$10 billion New Economy Programme, which covers commercial agriculture, energy infrastructure, critical minerals, tourism, textiles, pharmaceuticals and technology.

The government says the investments will help increase domestic production, strengthen exports and create employment opportunities.

However, the success of the plans will depend on funding, project implementation, private-sector participation and the ability to meet the announced timelines.

For Ghanaian businesses and households, the key question will be how these proposed investments translate into reliable electricity, stronger local industries, more jobs and improved economic opportunities.

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