The Association of Ghana Industries (AGI) has thrown its weight behind the government’s 24-Hour Economy policy, describing it as a potential game-changer for the nation’s industrial sector—provided it is implemented with precision and thorough stakeholder consultation.
Speaking on Joy News’ PM Express Business Edition, AGI Chief Executive Officer Seth Twum Akwaboah offered a measured but optimistic assessment of the flagship initiative, urging the public to temper expectations of immediate transformation while acknowledging the policy’s long-term promise.
Beyond the Slogan: Substance Over Semantics
Akwaboah made it clear that the business community is less concerned with political branding than with practical outcomes.
“For me, I don’t bother so much about the clichés you create, whether it’s 24-Hour Economy or 1D1F; that’s not really the issue for me. It is more of what you do within those policies,” he stated.
His remarks signal a pragmatic approach from industry leaders who have grown accustomed to ambitious government pronouncements but remain focused on tangible results.
Consultative Design Critical to Success
The AGI boss stressed that the policy’s fate rests largely on how it was conceived and developed, particularly the degree of industry involvement.
“You can come up with any policy, but then, when you develop the policy, what has gone into the policy development? How consultative was its nature? What are the key policies or activities within the policy that you are trying to implement to change the status quo?” he questioned.
Akwaboah revealed that the 24-Hour Economy concept was initially met with confusion among businesses, but subsequent engagements with government officials have helped clarify its intended direction and scope.
Managing Expectations: A Lesson from 1D1F
Drawing a direct parallel with the One District, One Factory (1D1F) initiative, Akwaboah cautioned against unrealistic expectations that the policy would revolutionise economic activity overnight.
“When you hear a cliché, when you hear a mention of something like that, sometimes the expectation is that overnight things will change and everything will be a 24-hour economy. It doesn’t happen like that,” he explained.
He reminded stakeholders that the 1D1F announcement did not translate to immediate industrialisation across every district. “Government has mentioned it. It’s an intention. It’s a vision. How do we work towards it?” he asked, applying the same logic to the 24-Hour Economy.
Blueprint Offers Promise, Execution Remains Key
Akwaboah acknowledged progress in the policy’s development, noting that government has now launched a formal blueprint containing several “interesting ideas.”
“And gradually they are coming to that point where now they’ve launched a blueprint, and then in it there are a lot of interesting ideas. If we’re able to implement it to the letter, I’m sure it will help change a lot of things,” he said.
He reiterated the AGI’s full backing for the initiative, disclosing that the association is actively collaborating with both government and the newly established 24-Hour Economy Secretariat to help operationalise its core objectives.
“If we’re able to do it, it will be a game changer,” he concluded.
Background: What Is the 24-Hour Economy Policy?
The 24-Hour Economy policy is a flagship economic transformation agenda aimed at extending business operations beyond traditional working hours to boost productivity, create jobs, and enhance Ghana’s competitiveness.
Key elements of the policy include:
· Extended operating hours for manufacturing, retail, and service sectors
· Incentive packages for businesses willing to operate round-the-clock
· Improvements in public infrastructure, including reliable power supply and enhanced security
· Support for shift work systems to maximise factory utilisation rates
The policy is designed to complement existing industrial initiatives such as 1D1F and the Ghana Industrial Policy, creating a cohesive framework for economic modernisation.
Industry Challenges and Opportunities
While the policy holds significant promise, industry observers have identified several challenges that could impede its full implementation:
· Energy reliability: Ghana’s power supply remains intermittent, which could undermine 24-hour manufacturing schedules
· Security concerns: Extended night operations raise safety questions for workers and businesses
· Labour dynamics: The policy will require adjustments to employment contracts and shift arrangements
· Financing constraints: Many small and medium-sized enterprises lack the capital to fund extended operations
Government’s Response
The government has established a dedicated secretariat to coordinate implementation, with officials indicating that pilot programmes will begin in key industrial zones before nationwide rollout.
The policy has been positioned as a central pillar of the administration’s economic recovery strategy, with promises of job creation and increased foreign direct investment.
Outlook
With the AGI’s public endorsement and active participation in the policy’s development, the 24-Hour Economy initiative appears to have secured a crucial private-sector ally. However, as Akwaboah cautioned, the true test will lie in execution—and whether the blueprint can be translated into tangible economic transformation.
For now, the business community watches with cautious optimism, hoping that this vision, unlike others before it, will be implemented to the letter.
