Presidential Advisor on the 24-Hour Economy, Goosie Tanoh, says the policy is expected to attract an estimated $4 billion in private sector investment over the next few years.
Speaking ahead of the official launch of Ghana’s 24-Hour Economy and the Accelerated Export Development Programme, Mr. Tanoh said the initiative is designed to unlock long-term industrial growth, job creation, and export competitiveness.
He noted that the 24-Hour Economy will introduce key structural reforms aimed at reversing the growing trend of businesses relocating to neighbouring Côte d’Ivoire due to more favourable conditions.
According to him, the policy will focus on improving the regulatory environment, addressing infrastructure bottlenecks, and offering targeted incentives to position Ghana as a more competitive destination for local and foreign investors.
“The total investment required is about $4 billion times ten, so GHS 400 billion. We hope it stays that way, and most of it is going to come from the private sector. One of the problems investors have had in working in Ghana and I am sure all of you have heard that because not the unpredictable and incoherent incentive regimes and the high costs of operations in Ghana including the under table payments and requests of corruption, some companies left to Ivory Coast where it is easier to do business.
“Our aim is to reverse that, and so the key components are a coherent, practical, transparent, incentive regime that is based on performance and with very little discretion, so we will remove the corruption component. Two, build these ecological paths so you meet the requirements of both domestic private investors and foreign investors with land where there are no title disputes,” he said.
