Ghana is poised to launch a groundbreaking economic policy dubbed the 24-Hour Economy and Accelerated Export Development Programme, or 24H in July 2025.
- Ghana plans to launch the ’24-Hour Economy and Accelerated Export Development Programme’ in 2025 to boost productivity and economic growth.
- The $4 billion initiative will receive $300-$400 million in government funding to attract private investment for infrastructure projects.
- The program aims to create 1.7 million jobs within four years by focusing on key sectors like agriculture, manufacturing, and logistics.
The ambitious initiative, spearheaded by President John Dramani Mahama’s administration, aims to revolutionise the country’s productivity framework by extending economic activity beyond conventional hours and integrating critical sectors into a cohesive value chain.
Government seed capital to catalyse private sector Investment
The 24H+ programme is estimated to cost $4 billion, with the government committing between $300 million and $400 million as seed capital. This initial funding is intended to bridge viability gaps and make bulk infrastructure projects commercially attractive to private investors.
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“The initial projected cost is about $4 billion. Of that, $300 to $400 million will come from government to support the viability gap requirement, ensuring bulk infrastructure is commercially sound and attractive to private investors,” explained Mr Augustus Goosie Obuodum Tanoh, Presidential Advisor on the 24-Hour Economy. He added that private sector pledges are already nearing $2 billion.
The initiative is envisioned as a national economic reboot with the goal of creating 1.7 million decent jobs within four years. It focuses on key value chains in agriculture, manufacturing, pharmaceuticals, textiles, infrastructure, and logistics, targeting import substitution, export growth, and all-day productivity.
“Despite growth, job creation has stagnated. In the 1990s, a 10% GDP growth translated to 7% job growth. Today, it’s barely 2%. The 24H+ programme will ensure growth translates into prosperity for Ghanaians, not just foreign systems,” said Abdul-Nasser Alidu, Head of Strategy and Programmes at the 24H+ Secretariat.
Eight strategic pillars for transformation
The 24H+ programme is structured around eight interlinked sub-programmes:
- Grow24 – focuses on agriculture, with flagship initiatives like Eden Volta to transform the Volta Basin into a food powerhouse, and Shikpon, an urban farming scheme.
- Make24 – targets manufacturing, including the creation of 50 industrial parks to make Ghana West Africa’s production hub.
- Build24 and Connect24 – aim to develop supportive infrastructure such as air cargo terminals, cold chain logistics, and inland water transport.
- Fund24 – provides financial incentives including concessional loans, tax credits, and a new Strategic Value Chain Development Fund (SVCDF), partially financed by levies on selected imports.
- Show24 – supports the creative economy and tourism.
- Aspire24 – focuses on human capital development.
- Go24 – promotes governance and civic engagement.
Attractive incentives for businesses
To support round-the-clock operations, businesses will be offered incentives such as:
- Tax rebates of up to 50%
- Import duty waivers on machinery and raw materials
- Value chain-specific lending facilities
- Export support tied to performance
- Discounted night-time electricity tariffs for firms operating between 10pm and 6am
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Preparing businesses for take-off
A national 24-Hour Readiness Programme will also be introduced to prepare over 5,000 businesses in all 16 regions to fully embrace the new economic model.
The 24H+ programme represents a bold departure from Ghana’s traditional development strategies, shifting from fragmentation and dependency to integration, productivity, and global competitiveness. It calls on the nation to work not just harder, but smarter, every hour, for shared prosperity.
