President John Dramani Mahama is set to officially unveil the government’s flagship 24-Hour Economy policy, described as a transformative initiative aimed at boosting Ghana’s productivity, industrial capacity, and global competitiveness.
The announcement follows recent remarks by Presidential Advisor on the policy, Goosie Tanoh, who acknowledged the significant cost implications but reaffirmed the government’s commitment to mobilising support from both domestic and international stakeholders to implement the programme.
A New Vision for Ghana’s Economic Framework
President Mahama has positioned the 24-Hour Economy as both a strategic objective and an operational model to transition Ghana into continuous, round-the-clock productivity.
The 24-Hour Economy policy reflects a future where productivity, innovation, and capital utilisation are so intensified that Ghana operates in full shifts — day and night — across key sectors,” the President explained at a recent forum
He noted that the initiative is expected to address underemployment, enhance infrastructure utilisation, and stimulate GDP growth by unlocking the country’s potential across sectors such as manufacturing, agriculture, digital services, and tourism.
The policy was a central theme of Mahama’s 2024 presidential campaign and remains a cornerstone of his administration’s strategy for inclusive growth and economic modernisation.
Infrastructure and Economic Hubs
A key component of the policy is the development of the Volta Lake Economic Corridor, envisioned as a national hub for production, transport, and logistics. The plan includes cultivating over two million hectares of arable land along the Volta Basin, revitalising the inland fisheries industry, and establishing industrial parks to serve domestic and regional markets.
Empowerment, Financing, and Local Implementation
The policy prioritises sectors such as agro-processing, pharmaceuticals, textiles, light manufacturing, ICT, and the creative economy. It also places strong emphasis on skills training and women’s economic empowerment, especially in rural areas.
To finance the initiative, the government will leverage support from the Ghana Infrastructure Investment Fund, the Development Bank of Ghana, and the Venture Capital Trust Fund—with a focus on funding SMEs, cooperatives, and agribusinesses in targeted value chains.
Mahama stressed the importance of a decentralised model: each district will establish its own implementation task force. To ensure continuity and oversight, a dedicated 24-Hour Economy Secretariat will be created through legislation to coordinate efforts nationwide.
Public Reaction and Outlook
The policy has drawn mixed reactions. Supporters view it as a bold step toward modernising Ghana’s economic model and reducing unemployment. Critics, however, have raised concerns over the programme’s high financial cost, the country’s infrastructure readiness, and the capacity of institutions to deliver on the scale proposed.
Nonetheless, the Mahama administration insists the initiative is a strategic leap forward, and essential for Ghana to compete globally and build long-term resilience.
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