Government launches bold 24-hour economy to revolutionize national productivity

Government of Ghana has officially launched it’s transformative 24-Hour Economy and Accelerated Export Development Program, a comprehensive strategy aimed at dismantling traditional economic barriers and unlocking the nation’s full productive potential.

Speaking at the official launch today in Accra, President of the Republic of Ghana H.E John Dramani Mahama unveiled the “24-hour Plus Agenda” as a strategic national reset, challenging Ghana’s long-standing economic model of exporting raw materials and importing finished products.

“We export cocoa, gold, and oil, only to repurchase them as expensive finished goods,” President Mahama emphasized.

Sub-Programs of the 24-Hour Plus Agenda :

President Mahama outlined the ground-breaking initiative introduces six strategic sub-programs:

° The 24-hour plus agenda comprises synergistic sub-programs tailored to key value chains, including grow 24, make 24, build 24, show 24, connect 24, and fund 24.

◦ Grow 24 focuses on boosting agricultural productivity, agro-processing, and food security.

◦ Make 24 aims to revitalize manufacturing and industrialization.

◦ Build 24 targets accelerating infrastructure construction, housing, and public works.

◦ Show 24 focuses on harnessing Ghana’s creative, cultural, and tourism assets.

◦ Connect 24 addresses logistics, transport, warehousing, ports, energy, and digital infrastructure.

◦ Fund 24 aims to unlock innovative financing through credit guarantee schemes, blended finance, and venture capital.

Volta Economic Corridor as Flagship Intervention:

The Volta Economic Corridor is highlighted as the flagship anchor of the 24-hour plus program by President Mahama aiming to unlock the economic and environmental potential of the Volta Lake and its surrounding lands.

President Mahama recalls the vision of Ghana’s first president, Doctor Kwame Nkrumah, for the Volta project, which included agribusiness and irrigation.

He said, the Volta Economic Corridor will irrigate over 2 million hectares of land for intensive agriculture under grow 24.

He stated agro-industrial parks for textiles, pharmaceuticals, and food processing will be established under “make 24”.

He emphasized that, tourism clusters will be developed along the lake under show 24, and the lake will become a central transport corridor under “connect 24.”

“ Today. Osagyefo, Doctor Kwame Nkrumah, dream comes alive again. we’ll irrigate over 2 million hectares of land for intensive agriculture under grow 24 . We will establish agro industrial parks for textiles, pharmaceuticals and food processing under make 24.

We’ll develop tourism clusters along the lake under Show 24 , we’ll turn the lake into a central transport corridor that connects the north to the south and the east to the west under Connect 24.” He said.

President Mahama added that, the private sector will lead the 24-hour plus programme, with the government facilitating and not dominating. Government funding will be catalytic, serving as seed funding for the 24-hour plus authority and supporting bulk infrastructure.

He mentioned that, enterprise financing will be sourced through commercial banks, development finance institutions, and blended finance instruments.

President Mahama disclosed that, the fund 24 will address access to capital, collateral constraints, and the short-term nature of most banking finance. Credit guarantee schemes will support risk sharing without breaching fiscal covenants with multilateral institutions.

“ Government will facilitate and not dominate. Any government funding in 24 hour plus will be catalytic, serving as seed funding for the 24 hour plus authority and supporting bulk infrastructure.

Enterprise financing will be sourced through commercial banks, DFIs and blended finance instruments.

Fund 24 will address access to capital, collateral constraints and the short term nature of most of our Banking Finance credit guarantee schemes will support risk sharing without breaching our fiscal covenants with our multilateral institutions.” President Mahama emphasized.

President Mahama calls for a new model of economic development grounded in productivity, powered by the private sector, and coordinated by the state.

He noted that, the national strategy includes inclusive growth, export expansion, job creation, and structural transformation. He acknowledged the challenges ahead but expresses confidence in success through discipline, coordination, and shared purpose.