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Presidential Committee Formed for 24-Hour Economy Initiative

Published 3 hours ago3 minute read
Presidential Committee Formed for 24-Hour Economy Initiative

A 19-member Presidential Committee on Accelerated Export Development (PCAED) has been inaugurated to transform Ghana into a globally competitive, export-driven economy. This strategic initiative falls under the President’s 24-Hour Economy and Export Development Programme. The committee, comprising industry leaders, trade professionals, and public sector representatives, aims to diversify and expand Ghana’s non-traditional export base. The inauguration took place on Monday, May 5, 2025.

Key members of the committee include President John Dramani Mahama; the Presidential Advisor for 24-Hour Economy and Accelerated Export Development, Augustus Goosie Tanoh; the Finance Minister, Dr Cassiel Ato Forson; Minister of Trade, Agribusiness and Industry, Elizabeth Agyare; the Minister of Fisheries and Aquaculture (MOFA), Emelia Arthur; the Minister of Food and Agriculture, Eric Opoku; and the Attorney-General, Dr Dominic Ayine. Other members include the acting Director-General of the Ghana Ports and Harbours Authority (GPHA), Brigadier General Paul Seidu Tanye-Kulono; the acting Commissioner-General of the Ghana Revenue Authority (GRA), Anthony Kwasi Sarpong; Davies Narh Korboe, Dr. Eben Anuwa-Amarh, Dr Akushika Andoh, Kwesi Korboe, Sampson Asaki Awingobit, Federation of Association of Ghana Exporters representative, Association of Ghana Industries representative, Jacob Nyarko Mensah, Gabriel Opoku Asare and Prof John Gatsi.

During the inaugural ceremony, Augustus Obuadum Tanoh, the Presidential Advisor on the 24-Hour Economy and Accelerated Export Development, reaffirmed the government’s commitment to structural transformation through strategic partnerships involving the private sector, trade experts, and regulators. He emphasized that the initiative fulfills President John Mahama’s promise to collaborate with industry leaders to address and remove obstacles hindering the expansion of Ghana’s export sector.

Mr. Tanoh outlined the three central pillars of the 24-hour economy and Accelerated Export Development policy: production transformation, market systems efficiency, and human capital development. These pillars are designed to foster sustainable growth, job creation, and economic resilience. He acknowledged challenges within Ghana’s export sector, such as complex regulatory requirements, logistical inefficiencies at ports, and limited access to international quality certification. However, he asserted that these challenges are manageable, citing Ghana’s strategic coastal location, expanding infrastructure, political stability, and its role as host of the AfCFTA Secretariat as strong fundamentals.

Tanoh emphasized the PCAED’s strategic role in providing practical, evidence-based advice to the President to facilitate Ghana’s transition from exporting raw commodities to exporting value-added, globally competitive products. He noted that non-traditional exports currently generate only $3.5 billion annually, which he deemed insufficient for an economy with Ghana’s potential. He stated that export transformation is not solely about revenue but also about dignity, job creation, and building national wealth, positioning Ghana at the center of regional and global trade.

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