Ghana's President Unveils Plan for 24/7 Economy

Ghana Unveils Ambitious 24-Hour Economy Plan: President Mahama Outlines Key Initiatives Ghana's President John Dramani Mahama recently announced a comprehensive plan to transition the nation to a 24-hour economy. This ambitious initiative aims to significantly boost productivity, create new job opportunities, and enhance service delivery across critical sectors. The announcement was made during a key stakeholder consultation, underscoring the government's commitment to collaborative implementation. "This meeting is a crucial part of our national reset," President Mahama stated, emphasizing the importance of the initiative. The plan involves a multi-pronged approach, focusing on infrastructure development, financing, land systems, and skills development. The Volta Lake economic corridor will be developed as a national production and logistics hub, leveraging the lake as a transportation artery. The government plans to utilize the Ghana Infrastructure Investment Fund to develop industrial parks and logistics hubs, while also upgrading transportation links. The Development Bank of Ghana and the Venture Capital Trust Fund will provide financial support to SMEs, cooperatives, and agribusinesses in priority sectors. To streamline the process and encourage investment, the government will introduce tax relief on machinery and inputs, fast-track regulatory approvals, and facilitate exports. President Mahama also emphasized the decentralized nature of the plan, stating that each district will establish its own 24-hour implementation task force. This approach aims to ensure local ownership and responsiveness to regional needs. The plan is expected to be officially launched in July, coinciding with Ghana's Republic Day, symbolizing a bold new national agenda for economic growth and prosperity.