Gov’t 24-Hour Economy Pulls Global Investors

President John Mahama has unveiled Ghana’s 24-Hour Economy as a bold model to attract global investors, declaring that the country is open for business around the clock.

Speaking at the opening of the 8th Africa–Singapore Business Forum in Singapore on August 26, he presented the plan as Ghana’s anchor strategy for productivity, exports, and jobs.

“Our economic strategy is anchored in productivity, exports and jobs. We call it the 24-Hour Economy—for a reason. Ghana is OPEN FOR BUSINESS 24 hours a day,” Mahama told an audience of business leaders, policymakers, and investors.

He explained that Ghana is aligning infrastructure, incentives, and skills so that factories, farms, ports, and service centres can operate round-the-clock shifts safely and competitively.

“At the core of this is the Volta Economic Corridor—our most ambitious integrated development to date.”

The corridor, he said, rests on four pillars. “Grow24: irrigating more than two million hectares for year-round farming. Make24: agro-industrial parks for textiles, pharmaceuticals and food processing.

“Show24: tourism and hospitality along one of the world’s great inland lakes.

“Connect24: transforming Lake Volta into a cost-efficient inland transport spine, reducing logistics costs and linking farms, factories and markets.”

President Mahama added that the strategy is complemented by catalytic projects such as the Legon Pharmaceutical Innovation Park, the Kumasi Machinery and Technology Park, the Akosombo-Juapong Garments and Textiles Park, Digital TVET Centres of Excellence, and renewable energy corridors.

“Our Big Push Infrastructure programme will accelerate roads, power and digital connectivity to crowd-in private capital and unlock scale.”

Positioning Ghana as a magnet for investors, he stressed that the country offers stability and access to markets.

“As host of the African Continental Free Trade Area Secretariat, Ghana sits at the heart of the US$3.4 trillion single market.

“Through ECOWAS, we connect you to more than 400 million consumers in West Africa. We offer political stability, a rules-based environment, a double taxation agreement with Singapore in force since 2019, and a growing base of Singaporean investors—69 companies registered with cumulative investments exceeding US$2 billion.”

President Mahama noted that Ghana is pursuing reforms to boost confidence.

“We know credibility is earned. We are pursuing a deliberate national reset: stabilising the macroeconomy, restoring confidence and reforming how we do business. Inflation is easing, the cedi has stabilised, and ratings outlooks are improving.

“We are simplifying regulations through our Business Regulatory Reforms, and we are reviewing our Investment Promotion Act—including the removal of minimum capital thresholds for foreign investors—to make it easier and faster to partner.”

Turning to Africa, President Mahama presented a strong case for the continent as an investment destination.

“I speak today as an African leader and as President of Ghana. Our message is simple: Africa is investable, and Ghana is your reliable gateway to the continent. The continent is the world’s most dynamic emerging market.

“We are 1.4 billion people today—young, fast-urbanising, digitally connected—and by 2030, Africa’s cities will host more than 700 million consumers.

“The African Continental Free Trade Area is the largest new free trade area in the world by number of countries, and this has created a $3.4 trillion market and lowered barriers across supply chains.”

Source: Joy Business News