\n The ambitious initiative, spearheaded by President John Dramani Mahama\u2019s administration, aims to revolutionise the country\u2019s productivity framework by extending economic activity beyond conventional hours and integrating critical sectors into a cohesive value chain.\n <\/p>\n
Government seed capital to catalyse private sector Investment<\/p>\n
\n The 24H+ programme is estimated to cost $4 billion, with the government committing between $300 million and $400 million as seed capital. This initial funding is intended to bridge viability gaps and make bulk infrastructure projects commercially attractive to private investors.\n <\/p>\n
\n \u201cThe 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,\u201d explained Mr Augustus Goosie Obuodum Tanoh, Presidential Advisor on the 24-Hour Economy. He added that private sector pledges are already nearing $2 billion.\n <\/p>\n
<\/p>\n
\n The initiative is envisioned as a national economic reboot with the goal of creating 1.7 million decent jobs within four years. It focuses on key value chains in agriculture, manufacturing, pharmaceuticals, textiles, infrastructure, and logistics, targeting import substitution, export growth, and all-day productivity.\n <\/p>\n
\n \u201cDespite growth, job creation has stagnated. In the 1990s, a 10% GDP growth translated to 7% job growth. Today, it\u2019s barely 2%. The 24H+ programme will ensure growth translates into prosperity for Ghanaians, not just foreign systems,\u201d said Abdul-Nasser Alidu, Head of Strategy and Programmes at the 24H+ Secretariat.\n <\/p>\n
Eight strategic pillars for transformation<\/p>\n
\n The 24H+ programme is structured around eight interlinked sub-programmes:\n <\/p>\n
Grow24 \u2013 focuses on agriculture, with flagship initiatives like Eden Volta to transform the Volta Basin into a food powerhouse, and Shikpon, an urban farming scheme.<\/p>\n
Make24 \u2013 targets manufacturing, including the creation of 50 industrial parks to make Ghana West Africa\u2019s production hub.<\/p>\n
Build24 and Connect24 \u2013 aim to develop supportive infrastructure such as air cargo terminals, cold chain logistics, and inland water transport.<\/p>\n
Fund24 \u2013 provides financial incentives including concessional loans, tax credits, and a new Strategic Value Chain Development Fund (SVCDF), partially financed by levies on selected imports.<\/p>\n
Show24 \u2013 supports the creative economy and tourism.<\/p>\n
Aspire24 \u2013 focuses on human capital development.<\/p>\n
Go24 \u2013 promotes governance and civic engagement.<\/p>\n
Attractive incentives for businesses<\/p>\n
\n To support round-the-clock operations, businesses will be offered incentives such as:\n <\/p>\n
Tax rebates of up to 50%<\/p>\n
Import duty waivers on machinery and raw materials<\/p>\n
Value chain-specific lending facilities<\/p>\n
Export support tied to performance<\/p>\n
Discounted night-time electricity tariffs for firms operating between 10pm and 6am<\/p>\n
Preparing businesses for take-off<\/p>\n
\n A national 24-Hour Readiness Programme will also be introduced to prepare over 5,000 businesses in all 16 regions to fully embrace the new economic model.\n <\/p>\n
\n The 24H+ programme represents a bold departure from Ghana\u2019s traditional development strategies, shifting from fragmentation and dependency to integration, productivity, and global competitiveness. It calls on the nation to work not just harder, but smarter, every hour, for shared prosperity.\n <\/p>\n","protected":false},"excerpt":{"rendered":"The ambitious initiative, spearheaded by President John Dramani Mahama\u2019s administration, aims to revolutionise the country\u2019s productivity framework by…\n","protected":false},"author":2,"featured_media":19574,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-19573","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/19573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=19573"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/19573\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/19574"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=19573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=19573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=19573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}