Gov’t to roll out 24-hour economy policy on July 1- Mahama

President John Dramani Mahama has announced that the government will officially launch its much-anticipated 24-hour economy policy on July 1, positioning it as a central pillar of Ghana’s economic transformation agenda.

The 24-hour economy policy, a flagship campaign promise of the Mahama-led administration, is designed to drive inclusive growth, create jobs, and transform regional economies through a decentralised, round-the-clock industrial strategy.

Speaking at a multi-sectoral stakeholder engagement at the Jubilee House, the President said preparations for the ambitious policy have been finalised, with a comprehensive plan ready to roll out.

The formal launch is expected to take place on Ghana’s Republic Day, July 1.

The President revealed that he has reviewed the final draft of the policy and expressed confidence in its readiness to deliver results.

The policy will also focus on priority value chains such as agro-processing, pharmaceuticals, textiles, light manufacturing, tourism, digital services, and the creative economy.

Each region will have tailored interventions aligned with its unique strengths and challenges.

A major highlight of the programme is the activation of the Volta Lake Economic Corridor, which aims to convert the lake into a major logistics and production hub.

The plan includes cultivating over two million hectares of lakeside land, revitalising fisheries, and building a chain of industrial parks along the corridor.

To ensure effective coordination, the government will establish a dedicated 24-Hour Economy Secretariat, which President Mahama said will be set up as an independent authority reporting directly to the Presidency.

He disclosed that legislation is being worked on in collaboration with Parliament to back the Secretariat’s operations and ensure institutional stability.

“I have reviewed it, and I’m confident we now have a coherent and actionable framework with which to deliver the results,” President Mahama stated. “An effective catalyst for the 24-hour economy policy is a stable macroeconomic environment, which we are achieving through close coordination between the monetary and fiscal authorities.”

“To guarantee institutional stability, I’m working with Parliament to establish the 24-hour economy secretariat as an independent authority, reporting directly to the President and backed by legislation,” he said.

“This corridor, centred on the Volta Lake and the Volta Basin, will become a national production zone and logistics hub,” the President announced. “The plan envisions cultivating over two million hectares of arable lakeside land, revitalising the fishery sector on the lake, and creating a chain of industrial parks that produce goods for domestic and regional markets.”

“The lake will be activated as a transport highway, moving food, people, and goods more efficiently than our congested roads allow us to do currently,” President Mahama explained.

“It is not a top-down model. It is decentralised,” the President said. “Each district will establish its own 24-hour implementation task force, housed within the district and municipal assemblies, and aligned with our local economic development policy. This will allow each region to define and lead its path of industrial transformation based on its natural comparative advantages.”

“We’ll officially launch the 24-hour plus programme in July this year, most probably on Ghana’s Republic Day, which is a symbolic day for a bold new national agenda,” he said.