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24-Hour Economy to remove production constraints, drive jobs and industrialisation -Mahama

President John Dramani Mahama says the 24-Hour Economy is designed to remove the major constraints that limit production and demand, creating the conditions needed for businesses to expand, create jobs and drive industrialization.

Date Created : 9/30/2026 12:00:00 AM : Story Author : Emmanuel Frimpong/Ghanadistricts.com

He said the policy requires reliable access to raw materials at competitive prices, efficient supply chains, affordable and dependable power, working capital, safe transportation for workers operating at night, as well as a skilled workforce ready to be employed.

The President made the remarks in a speech read on his behalf by Presidential Advisor on the 24-Hour Economy and Accelerated Export Development Programme, Augustus Goosie Tanoh, at the ongoing maiden Eastern Expo in Koforidua.

The Expo is being held under the theme, “Unlocking Opportunities for Sustainable Trade, Tourism and Investment.”

President Mahama said the 24-Hour Economy forms part of the government’s Resetting Ghana Agenda and is intended to usher in what he described as a second wave of industrialisation, alongside the Accelerated Export Development Programme.

He said the Eastern Region would be an important anchor in this economic transformation, particularly as the country moves from exporting raw materials towards processing and manufacturing finished products locally.

According to him, the policy seeks to end the pattern of exporting raw cocoa, timber and other raw materials without sufficient value addition, by promoting processing and manufacturing for the domestic, African and international markets.

President Mahama said the government’s target is to reduce unemployment to below five per cent by 2035 and increase manufacturing’s contribution to national output from about 10 per cent to 20 per cent.

He explained that the 24-Hour Economy would work by creating markets in Ghana, Africa and beyond that are large enough to encourage factories and businesses to operate additional shifts.

He said once the constraints on production and demand are removed, enterprises would have the incentive to expand their operations because there would be sufficient markets for their products.

President Mahama stressed that while government could facilitate the construction of economic corridors, industrial parks and roads, the actual production and enterprise development must be driven by farmers, producers and entrepreneurs.

He therefore urged businesses and entrepreneurs in the Eastern Region to take advantage of the opportunities created by the government’s economic transformation agenda.

He said the future of the Eastern Region would ultimately be determined by its people, adding that government’s responsibility was to create the enabling environment for businesses to become competitive, grow and thrive.