Presidential Advisor on the 24-hour Economy policy, Goosie Tanoh

Presidential Advisor on the 24-hour Economy policy, Goosie Tanoh, has stated that Ghana must move away from being labeled a poor country, especially when that narrative can be changed through industrialisation and government's 24-hour economy initiative.

According to him, Ghana has the potential and the necessary resources to thrive and break free from the shackles of poverty.

He explained that the 24-hour economy seeks to develop the private sector into a provider of local produce and a strong contributor to exports.

Tanoh noted that strategic measures have been put in place to drive the level of transformation needed to create jobs for all.

He lamented that Ghana spends about US$3 billion annually on food imports.

This significant expenditure, he argued, could be curbed through support for local farmers and effective implementation.

Speaking at a press briefing in Accra on Monday, June 30, 2025, ahead of the launch of the 24-hour economy policy, Tanoh said, “We must be tired of being poor and being described as poor when we have such vast resources and also the potential for an extraordinarily improved human capital that will drive this programme.”

He added that, “The programme is principally a private sector initiative, and we believe that the private sector, both domestic and international will embrace the investment opportunities created by this programme and the government’s overall economic policy.”

According to him, the 24-hour economy secretariat requires an investment of GH¢4 billion.

The government, he said, will contribute only 5% of the required funding which is GH¢400 million, while the rest is expected to come from the private sector.

The 24-hour economy is one of the National Democratic Congress’s (NDC) flagship campaign promises during the 2024 elections.

It is aimed at tackling unemployment and boosting productivity by promoting continuous, round-the-clock economic activities.

SA/MA

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