Mahama engages businesses on government’s 24-hour economy policy 

President John Mahama met with business leaders on Wednesday. They discussed the new “24-Hour Economy Policy” at the Presidency in Accra.

This policy aims to boost economic activity. It encourages businesses to operate around the clock or in multiple shifts. The goal is to increase productivity and create jobs.

Over 200 participants attended this important meeting. President Mahama described the 24-Hour vision as both a destination and a program.

As a destination, it reflects high productivity and capital utilization. Ghana would operate in multiple shifts, maximizing returns on resources and innovation.

This idea gained public support during the 2024 campaign. It remains central to achieving full employment and inclusive growth.

As a program, the policy requires restructuring of the economy. President Mahama emphasized re-engineering production systems from top to bottom.

He called for boosting volumes and diversity in production. The focus should shift from raw materials to value-added products like food, pharmaceuticals, garments, industrial inputs, and digital services.

Earlier this month, he received a draft of the policy from advisor Mr. Goosie Tanoh. After reviewing it, he felt confident about its actionable framework.

An effective catalyst for this policy is macroeconomic stability. This stability is being achieved through coordination between monetary and fiscal authorities.

However, the program extends beyond just stability. It focuses on production, enterprise development, job creation, and exports.

At its core is an integrated value chain transformation approach. This approach addresses structural bottlenecks comprehensively through infrastructure, finance, land systems, logistics, and skills development.

One bold proposal includes developing the Volta Lake Economic Corridor. This corridor will become a national production zone and logistics hub centered around Volta Lake.

The 24-Hour Economy Policy document will be made public on June 3rd. Additionally, the Secretariat will be decentralized to district levels for broader access.

The Government plans to officially launch the 24-Hour Plus program on July 1st—Ghana’s Republic Day.