24-Hour Economy: AGI Calls for Industry-Led Implementation
By Praisebell Rosemond Larbi
The Association of Ghana Industries (AGI) has reaffirmed its strong backing for government’s 24-Hour Economy policy, stressing that its success will depend heavily on industry and agriculture taking the lead in implementation.
President of AGI, Mr Kofi Nsiah-Poku, underscored the central role of production sectors, noting that without a strong industrial and agricultural base, the policy risks falling short of its intended impact.
“We believe that the core of the 24-Hour Economy is industrial and agricultural development. Services are important, but they must be linked to production,” he stated.
The Association welcomed the passage of the 24-Hour Economy Authority Bill into law, describing it as a critical step toward institutionalising the policy. It also commended government for recent tax reforms aimed at improving the business climate.
However, AGI cautioned that legislation alone would not automatically translate into increased productivity, investment or job creation unless complemented by deliberate and coordinated policy actions.
Mr Nsiah-Poku explained that operating a 24-hour production cycle requires a robust ecosystem supported by reliable infrastructure, stable and affordable electricity, accessible financing, efficient transportation networks and enhanced security systems.
“When industries work in shifts, financial institutions must also support them. Workers need transport and security. It must be a coordinated ecosystem,” he said.
He disclosed that AGI has engaged extensively with the 24-Hour Economy Secretariat, contributing practical insights to shape the policy framework. The Association is also in ongoing discussions with financial institutions, including development finance institutions, to secure medium- to long-term funding to support industrial expansion under the policy.
A key concern raised by AGI is the need to strengthen local value chains. According to Mr Nsiah-Poku, reducing reliance on imported raw materials is essential to ensuring the sustainability and competitiveness of the initiative.
“If you import most of your inputs, you are at the mercy of exchange rate fluctuations. Strong local value chains ensure competitive pricing,” he noted.
He further emphasised the critical role of government in facilitating the necessary conditions for success, including infrastructure development, improved access to credit and strict regulatory enforcement to ensure compliance and efficiency.
AGI also pledged to intensify sensitisation efforts among its members, encouraging businesses to prepare for operational changes such as shift systems, workforce expansion, skills development and technology upgrades required to support round-the-clock production.
With its diverse membership spanning agriculture, agro-processing, manufacturing and services, the Association believes it is strategically positioned to drive the implementation of the policy.
Mr Nsiah-Poku reiterated AGI’s commitment to partnering government to ensure the 24-Hour Economy delivers tangible outcomes, including increased exports, job creation and broad-based economic growth.
Analysts note that if effectively implemented, an industry-led 24-Hour Economy could significantly boost Ghana’s productive capacity, deepen industrialisation and enhance the country’s competitiveness in both regional and global markets.
