In a move poised to reshape Ghana's economic landscape, the government is set to release funding aimed at bolstering industries in anticipation of the implementation of a 24-hour economy. This announcement was made by the Minister for Trade and Agribusiness, Elizabeth Ofosu-Adjare, in the wake of the Independence Day celebrations on March 6, 2025.

Mrs. Ofosu-Adjare conveyed the private sector's enthusiasm for the initiative, noting that several industries are already making preparations to operate around the clock, employing three shifts to maximize production capabilities and generate employment opportunities. The Minister emphasized that the government has been actively engaging with various industries, many of which are eager to adopt continuous operations.

The envisioned 24-hour economy is projected to act as a catalyst for economic expansion by stimulating domestic manufacturing and diminishing the nation's reliance on imports. According to Mrs. Ofosu-Adjare, this policy is strategically aligned with Ghana's import substitution agenda. By scaling up the production of goods currently imported, the country aims to increase exports and, consequently, strengthen the cedi.

Further details revealed that discussions have transpired between Mrs. Ofosu-Adjare, the Minister for Finance, and the Bank of Ghana concerning the release of funds currently held within banks. These funds are earmarked for investment in agribusiness and the industrial value chain. Acknowledging that access to affordable financing remains a significant impediment for businesses, the Minister underscored the critical importance of addressing this challenge to ensure the success of the 24-hour economy policy.

Mrs. Ofosu-Adjare highlighted the insights gained from the National Economic Dialogue, emphasizing the private sector's readiness to contribute substantially, provided they receive adequate support. A key takeaway from the dialogue was the imperative to unlock funds within banks to facilitate business growth. The Minister pledged to personally oversee the process of making these funds accessible.

Clarifying the scope of the initiative, Mrs. Ofosu-Adjare stated that the 24-hour economy will not encompass all sectors but will instead focus on industries capable of sustaining continuous operations. These include manufacturing, agribusiness processing, and services. She reassured the public of the government's commitment to collaborate closely with businesses to facilitate the implementation process, generate employment opportunities, and effect transformative change within the economy.