Accra: Mr. Augustus Obuadum Tanoh, Presidential Advisor for the 24-Hour Economy Secretariat, has confirmed that the 24-Hour Economy Policy document will be presented to Parliament after its unveiling on July 2 for comprehensive debate by members of Parliament. This initiative aims to allow legislators from both sides to contribute to the policy, ensuring its holistic implementation.
According to Ghana News Agency, Speaker of Parliament Alban Bagbin recently proposed that the 24-Hour Policy document should be debated in Parliament to gain parliamentarians' support and ensure national ownership of the policy. Mr. Tanoh emphasized the necessity of such a debate to justify the establishment of an Authority, stating its inevitability.
Mr. Tanoh made these remarks during a media event in Accra on June 30, seeking media support to disseminate information about the policy. President John Dramani Mahama is scheduled to officially launch the 24-Hour Economy Policy document on July 2, 2025. The program is projected to create at least 1.7 million jobs over the next four years to drive industrial transformation.
Mr. Tanoh announced that the 24-Hour Economy Secretariat would be transformed into an Authority, pending parliamentary approval, to enhance its operational scope. He disclosed that the government plans to mobilize four billion US dollars from global development financial partners over the next four years for the program's full-scale implementation. An initial seed capital of $300 million will be provided to support businesses and individuals participating in the program.
The program is built on three pillars: Production Transformation, Supply Chain and Market Efficiency, and Human Capital Development. These are supported by eight sub-programs, including Grow 24, Make 24, Connect 24, Show Ghana, Go Ghana, Digital Technology, and Aspire 24. Mr. Tanoh highlighted that the government learned from past development initiatives to design this program.
Mr. Abdul-Nasser Suglo Alidu, Head of Strategy and Programme at the 24-Hour Economy Secretariat, explained that the program focuses on transforming production with agriculture as the main anchor to achieve food sufficiency. The initiative also aims to enhance the country's value chain, promoting greater productivity and an export-driven economy.
The 'Make 24' component focuses on boosting the manufacturing of goods and services, while 'Aspire 24' aims to change Ghanaian workers' mindsets and reduce bureaucratic obstacles in the public sector. 'Show Ghana' seeks to promote Ghana's cultural identity and connect with the diaspora for tourism promotion. 'Go Ghana' aims to mobilize citizens for national prosperity, and the 'Made-in-Ghana' component encourages local manufacturing and consumption.
Mr. Abdul-Nasser added that the program will introduce the Volta Economic Corridor, featuring industrial parks, agro-ecological parks, and lake transportation to boost socio-economic development. He emphasized the program's national character and its focus on leveraging Ghanaian human resources to accelerate socio-economic transformation, drawing inspiration from successful initiatives in countries like Singapore, Malaysia, China, and Denmark.
