In an era defined by rapid economic change and evolving work dynamics, President John Dramani Mahama’s administration has launched an ambitious initiative to transform Ghana’s productivity landscape. Dubbed the 24H+ programme, this initiative aims not only to extend economic activity beyond traditional hours but also to weave together various critical sectors into a cohesive value chain. This isn’t merely about working more; it’s about working smarter and more efficiently for the collective benefit of all Ghanaians.
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Seed Capital: A Catalyst for Private Sector Investment
The financial blueprint for the 24H+ programme suggests an estimated cost of $4 billion. The government plans to inject between $300 million and $400 million as seed capital, which will serve as a vital bridge over existing viability gaps. This injection aims to attract private investors by rendering large-scale infrastructure projects commercially appealing. Imagine, for a moment, the landscape transformed through this investment—a landscape teeming with opportunities for both businesses and individuals.
In the words of Mr. Augustus Goosie Obuodum Tanoh, the Presidential Advisor on the 24-Hour Economy, “The initial projected cost is about $4 billion. Of that, $300 to $400 million will come from government to support the viability gap requirement, ensuring bulk infrastructure is commercially sound and attractive to private investors.” His statement was underscored by optimism, as private sector promises are already nearing $2 billion, indicating a strong interest in this pioneering venture.
The ambition behind this initiative is nothing short of a national economic rejuvenation. Within four years, the goal is to create 1.7 million decent jobs across key value chains such as agriculture, manufacturing, pharmaceuticals, textiles, infrastructure, and logistics. Imagine the ripple effects: families lifted out of hardship, communities revitalized, and a burgeoning economy replete with potential.
Consider for a moment, the stark juxtaposition presented by Abdul-Nasser Alidu, Head of Strategy and Programmes at the 24H+ Secretariat. He lamented that, “Despite growth, job creation has stagnated. In the 1990s, a 10% GDP growth translated to 7% job growth. Today, it’s barely 2%. The 24H+ programme will ensure growth translates into prosperity for Ghanaians, not just foreign systems.” This poignant observation serves as a reminder that economic metrics alone cannot define success; the real measure lies in the tangible improvement of everyday lives.
Eight Strategic Pillars Driving Transformation
Structurally, the 24H+ programme unfolds through eight interlinked sub-programmes, each designed to focus on specific areas of growth:
- Grow24 – A deep dive into agriculture, featuring flagship initiatives like Eden Volta, which aims to transform the Volta Basin into a food powerhouse, as well as Shikpon, an urban farming initiative that encourages sustainable growth.
- Make24 – Centered on manufacturing, this pillar envisions the establishment of 50 industrial parks, with the intention of making Ghana the production hub of West Africa.
- Build24 and Connect24 – These initiatives will lay the groundwork for essential infrastructure like air cargo terminals and cold chain logistics, crucial for supporting a vibrant economy.
- Fund24 – A financial lifeline featuring incentives such as concessional loans and tax credits, supported by levies on selected imports, aimed at making investment more appealing.
- Show24 – This is dedicated to nurturing the creative economy and boosting tourism, two sectors often overlooked but rich in opportunity.
- Aspire24 – A focus on human capital development, ensuring that skills training aligns with the needs of a modern economy.
- Go24 – Promoting good governance and civic engagement as pillars of social responsibility and trust within communities.
Attractive Incentives for Businesses
For businesses to operate round-the-clock effectively, a suite of attractive incentives is being introduced:
- Tax rebates that can go as high as 50%
- Waivers on import duties for machinery and raw materials
- Tailored lending facilities specific to various value chains
- Performance-tied export support
- Discounted night-time electricity tariffs for firms functioning between 10 PM and 6 AM
Preparing Businesses for Take-Off
Additionally, a nationwide 24-Hour Readiness Programme is set to equip over 5,000 businesses across all 16 regions with the necessary tools to fully engage with this new economic framework. The investment in human and operational readiness is as critical as the project funding itself.
Ultimately, the 24H+ programme signifies a bold departure from Ghana’s traditional development paradigms. Instead of relying on fragmentation and dependency, it encourages integration, productivity, and global competitiveness. In this venture, the nation is called not merely to work harder but to work smarter—together, stepping into a future where prosperity is shared among all citizens. It’s about embracing the hours and opportunities that lie ahead with intent and purpose.
In closing, as we embark on this transformative journey, it’s essential to remember that the heart of this initiative is people—real lives, hopes, and aspirations. Can we envision a nation moving forward, not just in terms of numbers but in the richness of human experience? This is the promise of the 24H+ programme—an invitation to a future we can build together.
Edited By Ali Musa
Axadle Times International – Monitoring.
