24-Hour Economy Secures $5.5bn Project Commitments – Advisor

The 24-Hour Economy programme has mobilised about $5.5 billion in project commitments, largely from the private sector rather than government capital funding, a year after its launch.

The 24-Hour Economy and Accelerated Export Development Programme was launched in July, 2025 and aims to shift the country from an import-dependent, raw material-exporting economy towards a self-reliant, round-the-clock productive economy.

Speaking at an engagement with the media in Accra last Wednesday, the Presidential Advisor on the 24-Hour Economy, Augustus Goosie Tanoh, said the programme would rely on the private sector to implement the projects while the government would facilitate the environment for the investments to thrive.

Despite its young age, he said the programme had attracted significant investment interest because of the credibility of its economic framework.

“It is a young programme, but because of the credibility of the economics around it, we are able to mobilise commitments of $5.5 billion,” he said.

Mr Tanoh explained that the programme’s responsibility was to develop viable projects and demonstrate their bankability to attract private capital.

“We have to show that Project ‘A’ and Project ‘B’ are bankable. Then you put your money in it,” he said.

The Presidential Advisor added that the government support was mainly limited to administrative and project-preparation costs, including hiring consultants and providing basic equipment such as computers and vehicles.

“The only support the government gives us is our administrative costs. It takes government support to hire consultants, buy a computer and buy a vehicle,” he said.

Projects Underway
Mr Tanoh disclosed that WAPCo’s Solar project alone was valued at $1.45 billion, while renewable energy and renewable natural gas projects accounted for an additional $2 billion to $3 billion.

He pointed out that project developers must demonstrate sufficient equity before agreements would be signed, particularly for large-scale projects.

“If you are doing a project like WAPCo Solar, which is $1.45 billion, you want to make sure the person doing it has more than $1.45 billion as equity,” he noted.

The Buipe solar and battery project, which is part of the programme’s pipeline, is expected to generate 1,500 megawatts (MW) of electricity and create 13,000 jobs.

The 24-Hour programme also targets the creation of 1.7 million jobs by the end of 2028.

Mr Tanoh explained that despite public expectations, the 24-Hour Economy is being conceived as a “systematic reconstruction” of Ghana’s productive system, with interventions spanning agriculture, manufacturing, logistics, infrastructure and access to finance.

“We all want the economy to move to a level of capacity utilisation that allows factories to operate at 90 per cent, 100 per cent, and to invest in new production lines,” he said. “But you can’t leap from 10 per cent capacity utilisation to 100 per cent capacity utilisation in one year.”

Clarification
Mr Tanoh also clarified that the 24-Hour Economy Secretariat had no jurisdiction or oversight responsibility over the 24-hour markets being developed across the country.

He said the markets were being financed by district assemblies and implemented by the Ministry of Local Government and the district assemblies.

“Although they use a 24-hour logo, we have no control over the markets.
We are not part of deciding where it goes, and so on and so forth,” Mr Tanoh stated.

He disclosed that the secretariat had been sued four or five times over market projects despite having no responsibility for them.

Click to read more: https://opemsuo.com/author/hajara-fuseini/