President John Dramani Mahama has announced that the government will officially launch the 24-hour Economy policy in July, most likely on Republic Day, as part of a bold new agenda to transform Ghana’s productivity and export capacity.
Speaking at a stakeholder consultative meeting at the Jubilee House yesterday, the President described the policy as a structured plan to drive industrial growth, job creation and efficient resource utilisation.
“We will officially launch the 24-hour Economy programme in July this year, most probably on Ghana’s Republic Day, which is a symbolic day for a bold new national agenda,” President Mahama said.
The meeting brought together industry leaders, labour representatives, development planners and traditional authorities to discuss the rollout of the ambitious economic transformation agenda.
Economic vision
President Mahama explained that the policy is both a “destination and a programme” designed to maximise the country’s economic output through round-the-clock productivity.
“The 24-hour Economy policy reflects a state where Ghana’s productivity and capital utilisation will become so high that we will have to operate in multiple shifts across day and night, maximising the return on infrastructure, on human resources and innovation,” President Mahama said.
He emphasised that the policy, which gained traction during the 2024 campaign, remained central to achieving full employment and inclusive growth.
Volta Lake Economic Corridor
A key component of the plan is the development of the Volta Lake Economic Corridor, which will serve as a national production and logistics hub.
“This corridor, centred on the Volta Lake and the Volta Basin, will become a national production zone and logistics fund,” the President said.
He explained that “the plan envisions cultivating over two million hectares of arable lakeside land, revitalising the fishery sector on the lake, and creating a chain of industrial parks that produce goods for domestic and regional markets.”
He added that the lake would be activated as a transport highway to ease congestion on roads.
“New floating assets, lake ports and long-term investment partnerships will be developed in coordination with the Volta River Authority (VRA) and the private sector,” he said.
Empowering Women through Skill Development
The 24-hour Economy programme identifies key sectors such as agro-processing, pharmaceuticals, textiles, light manufacturing, tourism, digital services and the creative economy.
Given that the success of the policy would partly depend on the availability of the needed infrastructure, President Mahama said the Ghana Infrastructure Investment Fund will lead efforts to develop industrial parks, logistics hubs, and upgrade transport links.
“On financing, the Development Bank of Ghana and the Venture Capital Trust Fund will scale up value chain finance for SMEs, cooperatives and agribusiness in priority sectors,” he said.
He stressed that the programme would not be top-down but decentralised, with each district establishing its own implementation task force.
To ensure continuity, he revealed plans to establish the 24-hour Economy Secretariat as an independent authority backed by legislation.
“The 24-hour Economic policy is not just a policy; it is a national compact for shared growth, for decent jobs, for competitive exports, for thriving local economies and long-term prosperity, and we now have to move to the hard work of delivery together,” he said.
Partnerships
The Minister of Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, urged leaders in the public and private sectors to forge new partnerships to drive the success of the government’s 24-hour Economy policy.
She emphasised that the initiative, anchored on manufacturing and agribusiness, would thrive through such collaborations.
“Today marks a new chapter in Ghana’s economic resetting,” she said.
The minister called on investors to see Ghana as the premier destination for business.
“The time to invest in Ghana is now. We want to build an economy that not only thrives in the day but around the clock,” she said.
Source: Graphic Online
