Dr Hayford Ayerakwa is a development economist

Development Economist Dr Hayford Mensah Ayerakwa has highlighted the strategic importance of the Volta Lake as a vital transport corridor that could significantly reduce transportation costs and ease road congestion in Ghana.

His comments follow President Mahama’s announcement of the government’s plan to boost trade via the Volta Lake.

On Wednesday, July 3, 2025, President John Mahama launched the 24-Hour Plus Programme, designed to accelerate national development by promoting continuous productivity and creating jobs across various sectors.

Speaking in an interview with GhanaWeb Business, Dr Ayerakwa emphasised that leveraging the waterway could shorten transit routes for goods moving from the northern regions to Accra, thereby reducing the high costs associated with road transport.

"There is an export component to whatever is coming to Accra. If we can develop this infrastructure, we can now guarantee, maybe from Akosombo all the way to Yapei, from Yeji all the way to Akosombo, it becomes a reliable corridor. Businesses will know there are guaranteed routes from point A to point B, and this will significantly reduce transportation costs," he said.

Dr Ayerakwa further noted that the initiative would not only lower costs for domestic consumption but also reduce expenses related to exports, making Ghanaian products more competitive in both regional and international markets.

"It impacts what the exporter will pay for transport, which means they would not need to pass that cost on to the final consumer. This makes our products more competitive. And once your product becomes more competitive, it means you’re going to generate a lot more profit," he explained.

The development of the Volta Corridor Project aligns with national efforts to enhance trade logistics and stimulate economic growth by easing the burden on Ghana’s road networks.

SP/MA

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