President Mahama outlines 8-pillar framework for 24-Hour Economy

The major theme areas that would serve as the foundation for the 24-hour economy project have been revealed by President John Dramani Mahama.

Speaking at the 24-hour economy policy’s official inauguration in Accra, Mr. Mahama stated that the goal of the project is to change Ghana’s economic structure by utilizing inclusive growth, job creation, and ongoing productivity across key industries.

According to him, the 24-hour economy would be organized around eight key regions, each of which would have a catchphrase that looked forward. Grow 24, Make 24, Build 24, Show 24, Connect 24, Fund 24, Aspire 24, and Go 24 are some of the areas.

The eight key areas explained

1. Grow 24 – This focuses on transforming the agricultural sector through technology-driven, climate-smart practices that allow for round-the-clock production and value addition. It aims to ensure food security and reduce post-harvest losses.
2. Make 24 – Under this pillar, the NDC government will prioritise industrialisation and manufacturing, promoting 24-hour operations in factories and processing zones to increase output, exports, and employment.
3. Build 24 – This involves boosting construction and infrastructure development, with support for continuous building schedules on public and private projects and decent housing in the country.
4. Show 24 – Centred on the creative arts, tourism, and entertainment sectors, this pillar will support 24-hour cultural and commercial activities that position Ghana as a hub for global tourism and investment.
5. Connect 24 – This seeks to improve digital infrastructure, transport networks, and energy systems to enable seamless connectivity for businesses, logistics, and individuals at all times.
6. Fund 24 – The focus here is on financial inclusion, with policy support for banks, fintechs, and microfinance institutions to operate extended hours and facilitate access to credit and financial services.
7. Aspire 24 – This pillar is about human capital development, investing in skills training, education, and entrepreneurship, especially for the youth, to prepare them for opportunities within the 24-hour economy.
8. Go 24 – Emphasising implementation and results, Go 24 will serve as the operational drive to coordinate, monitor, and evaluate the performance of the entire policy framework.

President Mahama went on to say that the program’s goal is to create an environment that supports Ghanaian businesses’ continuing success by providing incentives, policies, and infrastructure. It is not simply about keeping businesses open all day.