Presidential Adviser at the 24-Hour Economy Authority, Goosie Tanoh, has said the government’s 24-Hour Economy initiative is designed to transform Ghana into a high-productivity, industrialised economy capable of creating sustainable, well-paying jobs through value addition and innovation.
He explained that the policy extends beyond operating businesses around the clock, focusing instead on maximising the country’s productive capacity by improving industrial efficiency, embracing technology and expanding economic opportunities across multiple sectors.
“A 24-hour economy is, therefore, not merely about extending business hours. It is about transforming Ghana into a nation where opportunities are continuously created, industries operate efficiently, technology drives productivity, and every citizen has the opportunity to contribute to national development,” Mr Tanoh said in a statement read on his behalf by the Director of Partnerships at the 24-Hour Economy Authority, Ishmael Nii Amanor Dodoo.
The statement was delivered at the Made-in-Ghana Business Summit held in Accra on Friday, July 10, under the theme: “Unlocking Regional Potential: Driving Industrialisation, Youth Entrepreneurship, Job Creation and Made in Ghana Prosperity.”
Organised by the Entrepreneurs Foundation of Ghana, the summit brought together government officials, business leaders, investors, diplomats and development partners to explore strategies for expanding investment and economic opportunities beyond Accra into all regions of the country.
Mr Tanoh said sustainable economic growth would depend on Ghana moving away from exporting raw materials to producing high-value manufactured goods for both domestic and international markets.
“Ghana must move from exporting cocoa to producing premium chocolate, from exporting bauxite to manufacturing aluminium products, from exporting timber to producing quality furniture, and from exporting raw agricultural produce to becoming a leading exporter of processed foods,” he said.
According to him, industrialisation remains the foundation of long-term prosperity because it creates value, increases incomes, stimulates innovation and generates quality employment.
He said government policies should therefore encourage investment in key sectors, including manufacturing, agro-processing, pharmaceuticals, renewable energy, digital technologies, textiles, automotive assembly and mineral beneficiation.
Mr Tanoh also identified youth entrepreneurship as a central pillar of the 24-Hour Economy, noting that more than 60 per cent of Ghana’s population is under the age of 35.
“A successful 24-hour economy must intentionally empower young entrepreneurs through affordable financing, skills development, incubation centres, digital infrastructure, simplified regulations and strong partnerships between government, academia and industry,” he said.
