{"id":21164,"date":"2025-06-30T19:47:00","date_gmt":"2025-06-30T19:47:00","guid":{"rendered":"https:\/\/expressnewsghana.com\/?p=21164"},"modified":"2025-06-30T19:47:00","modified_gmt":"2025-06-30T19:47:00","slug":"govt-projects-4-billion-for-24-hour-economy-programme-to-transform-ghanas-development-landscape","status":"publish","type":"post","link":"https:\/\/expressnewsghana.com\/?p=21164","title":{"rendered":"Gov\u2019t Projects $4 Billion for 24-Hour Economy Programme to Transform Ghana\u2019s Development Landscape"},"content":{"rendered":"

The Government of Ghana has projected $4 billion for the rollout of its ambitious 24-Hour Economy and Accelerated Export Development Programme (24H+), a bold initiative aimed at transforming the country\u2019s economic framework, boosting job creation, and positioning Ghana as a competitive production hub.<\/strong><\/p>\n

The programme, a flagship policy of President John Dramani Mahama\u2019s administration, is set to be officially launched on Wednesday, July 2, 2025, with an initial $300 to $400 million seed funding already committed by the government to attract significant private sector investment.<\/p>\n

Speaking at a pre-launch press briefing in Accra on Monday, June 30, 2025, Mr. Augustus Goosie Obuodum Tanoh, the President\u2019s Advisor on the 24-Hour Economy, revealed that the government\u2019s investment would cover the \u201cviability gap requirement,\u201d making key infrastructure projects commercially attractive to private investors.<\/p>\n

\u201cThe initial projected cost is about $4 billion. Of that, between $300 and $400 million will come from the government.<\/p>\n

The rest will be mobilised from the private sector, and I\u2019m happy to report that pledges are already nearing $2 billion,\u201d Mr. Tanoh stated.<\/p>\n

Programme Targets 1.7 Million Jobs <\/strong><\/p>\n

The 24H+ programme is designed to operate across strategic value chains, including agro-processing, textiles, pharmaceuticals, logistics, and renewable energy, by promoting continuous production cycles beyond the conventional 8-hour workday.<\/p>\n

The government aims to create 1.7 million jobs within four years, particularly for youth and women.<\/p>\n

\u201cThis policy reflects the collective aspirations of Ghanaians,\u201d Mr. Tanoh noted. \u201cIt is not just a partisan agenda, but a national development strategy shaped by extensive consultations across all regions.\u201d<\/p>\n

Mr. Tanoh called on Ghanaians to rally behind the programme, urging a national shift in mindset.<\/p>\n

\u201cThe time has come for us to reject poverty and embrace the enormous economic potential we possess. Ghana is ready to work\u201424 hours a day\u2014for a better future,\u201d he declared.<\/strong><\/p><\/blockquote>\n

Explaining the concept to the media, Dr. Abdul-Nasser Alidu, Head of Strategy and Programmes at the 24-Hour Economy Secretariat, highlighted the urgency of the reforms.<\/p>\n

\"\"<\/p>\n

\u201cGhana has experienced economic growth, but it is not translating into jobs,\u201d he said. \u201cIn the 1990s, a 10% GDP growth rate generated about 7% job growth. Today, that same growth produces only 2% employment gains. The 24H+ programme will fix this disconnect and ensure growth brings prosperity to ordinary Ghanaians.\u201d<\/p>\n

Key Pillars of the 24H+ Programme<\/strong><\/p>\n

The programme features eight integrated sub-programmes which includes Grow24 that focuses on transforming agriculture and agribusiness, promotes 24-hour industrial production and manufacturing.<\/p>\n

The Build24 is to \u00a0support infrastructure projects like roads, energy, and logistics and Fund24 \u2013 provides innovative financing models and capital access.<\/p>\n

Other components include Trade24, Serve24, Tech24, and Skill24, designed to support export development, service sector expansion, technology adoption, and workforce training, respectively.<\/p>\n

\"\"<\/p>\n

To attract investment and encourage 24-hour operations, the government will introduce a series of incentives, including: Tax rebates of up to 50% for businesses operating round-the-clock. Import duty waivers for machinery and inputs and export performance bonuses for companies that hit productivity targets.<\/p>\n

The official launch event will showcase the vision behind the 24H+ initiative, with presentations from policymakers, economists, and private sector leaders, alongside interactive sessions and testimonials from successful pilot projects implemented in selected industrial zones.<\/p>\n

\u00a0<\/strong><\/p>\n

Source: Felix Nyaaba\/expressnewsghana.com<\/strong><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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