Accra: The Government has assured that its proposed 24-hour economy initiative will prioritize the growth and sustainability of private businesses as it rolls out measures to boost productivity and job creation.
According to Ghana News Agency, Mr. Goosie Tanoh, the Presidential Advisor on the 24-hour Economy Initiative, emphasized that the policy would not only encompass essential public services such as health, transport, and security but also foster an environment conducive to private enterprises operating beyond traditional working hours.
Speaking at the Central Expo 2025 business forum in Cape Coast, Mr. Tanoh highlighted the vital role of the private sector, describing it as the backbone of Ghana's economy. He stressed the importance of private sector participation for the success of the 24-hour agenda. 'Our focus is to support private businesses, be it small, medium, and large-scale, to take advantage of this new shift. We will work to ensure that the right incentives, infrastructure, and security systems are in place to allow businesses to operate around the clock,' he stated.
The forum, themed 'Empowering Women and Youth-led Enterprises to Promote Economic Growth,' is part of the annual Central Expo, which aims to attract exhibitors and investors to tap into the region's economic potential. This year's edition, under the theme 'Unlocking Business Opportunities in the Central Region,' ran from August 23 to August 31, showcasing the region's trade, tourism, and investment opportunities at Adisadel College Park in Cape Coast.
The expo is strategically aligned with the Central Regional Coordinating Council's (CRCC) Regional Development Strategy and Transformative Agenda, aiming to stimulate economic activities and harness the region's untapped resources. It facilitated networking opportunities, promoted domestic tourism, and attracted private sector investments, creating employment opportunities and empowering youth entrepreneurship.
Mr. Tanoh noted that industries such as manufacturing, hospitality, retail, logistics, and digital commerce were poised to benefit significantly by aligning with the initiative. He urged stakeholders to collaborate to transform the expo from an event into a movement that drives economic change in the region.
He assured that ongoing consultations between the government and industry players would address concerns such as power costs and safety, ensuring that the 24-hour economy provides inclusive opportunities for all businesses.
Business owners at the forum expressed optimism about the initiative, citing potential for increased production and employment. 'If power supply and security are guaranteed, we can increase our shifts and employ more people,' said Abigail Hanson, Manager of a hair growth product from Abura Dunkwa.
However, traders and small business operators raised concerns about electricity costs, staffing, and safety at night, urging the government to offer targeted support to prevent large corporations from being the sole beneficiaries.
In his remarks, Mr. Ekow Panyin Okyere Eduamoah, the Central Regional Minister, called on all businesses to collaborate with the CRCC to ensure the region progresses at the expected pace for mutual benefit.
