24-Hour Economy Key to Rapid Transformation – BoG Governor
By Praisebell Rosemond Larbi
Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has described the 24-hour economy concept as a strategic blueprint for driving rapid industrialization and unlocking the full potential of the Volta Economic Corridor.
He said the initiative, which aligns with Ghana’s broader transformation agenda, is designed to build a nation where production, finance, and commerce operate seamlessly around the clock, not merely by extending working hours, but by embracing smarter, faster, and more connected systems.
Speaking at the maiden Volta Economic Forum, themed “Harnessing the Volta Economic Corridor Potentials for the 24-Hour Economic Policy Take-off”, held at the Reddington Beach Hotel in Whuti, Anloga District, Dr. Asiama said the concept has the potential to reshape production networks, strengthen logistics, and boost regional and cross-border trade.
He explained that the Volta Economic Corridor represents more than a geographic space; it is a strategic artery linking Ghana’s farmlands, energy sources, industrial parks, markets, and border trade routes into one dynamic ecosystem.
On infrastructure and connectivity, the Governor emphasized the need to upgrade road networks, modernize logistics hubs, and reposition border posts to facilitate regional trade. He further identified Ho and Keta as pivotal growth centers to be developed into transport and industrial hubs.
He stressed that the success of the 24-hour economy depends heavily on human capital development, urging investment in education and re-skilling to build a workforce equipped for the future of work. He called for a mindset transformation among the youth to fully embrace innovation and productivity.
Dr. Asiama underscored that government alone cannot deliver the full vision of the 24-hour economy, calling for robust private sector collaboration to attract both local and international capital. He emphasized that policy consistency, regulatory clarity, and competitive tax systems would be key to sustaining investor confidence.
The Governor reaffirmed that the BoG remains committed to stabilizing the macroeconomic environment, maintaining the value of the cedi through sound monetary policy, and supporting digital finance platforms such as GhanaPay to enable continuous commerce.He added that the Central Bank will continue to expand access to finance through credit reforms, digital lending solutions, and support for SME-focused fintechs.
“We shall ensure sectoral resilience and signal Ghana’s stability and openness through green finance and reserves building,” he said.
Dr. Asiama called for collective responsibility across all sectors, stressing that transformation is “co-created, not legislated.” He urged regional assemblies, academic institutions, and traditional authorities to align with the 24-hour economy vision, adding that “everyone from government to financial institutions to community leaders has a role to play.”Dr. Asiama reaffirmed the BoG’s unwavering commitment to making the Volta Corridor the heartbeat of Ghana’s 24-hour economy.
