Accra: The Presidential Advisor for the government's flagship 24-Hour Economy and Accelerated Export Development programme, Augustus Goosie Tanoh, has advocated that Ghana's business community become the key drivers of the initiative for economic transformation.
According to Ghana News Agency, Mr. Tanoh declared that the programme had entered its execution phase and noted that the success of the initiative would depend largely on the private sector's willingness to invest, produce, and export at scale. Speaking at the 10th Ghana CEO Summit in Accra, on the theme 'Activating Ghana's Economic Transformation,' he indicated that converting the initiative into tangible economic outcomes required private sector participation.
Mr. Tanoh emphasized the necessity of viewing the 24-hour economy initiative as a collaborative effort rather than solely a government undertaking. 'This is our challenge to you. Do not see the 24-hour economy initiative as something that the Government is doing for you. Treat it as something we are doing together because it cannot succeed any other way,' he said.
He elaborated on the need for alignment in various sectors, explaining that the flagship programme aims to reverse Ghana's long-standing practice of exporting raw materials by shifting towards processing to retain value locally and create jobs, particularly for the youth. The initiative's pillars include boosting productivity across key value chains, enhancing product circulation, and upgrading skills for a more productive workforce.
The programme features eight integrated sub-programmes-Grow-24, Make-24, Show-24, Build-24, Connect-24, Fund-24, Aspire-24, and Go-24-designed to ensure the private sector's resilience beyond electoral cycles. Mr. Tanoh highlighted significant market opportunities for Ghanaian exporters, including the West African market, the African Continental Free Trade Area's (AfCFTA) consumer base, and China's zero-tariff access for African goods.
He encouraged CEOs to broaden their market perspectives beyond Ghana, urging them to consider cities like Lagos, Abidjan, Nairobi, Johannesburg, and Beijing. Mr. Tanoh assured the government's commitment to providing supportive policy measures and facilitating the initiative's implementation.
The 24-Hour Economy Secretariat and its partners aim to address past challenges faced by exporters, such as issues with customs and infrastructure, by securing resources, lobbying for legal reforms, and developing incentives for participating companies. Mr. Tanoh called on business leaders to engage early, think bigger, and invest in the transformation, reinforcing that they are the creators and beneficiaries of this economic shift.