24-Hour Economy Programme Attracts US$11.5 Billion in Prospective Investments

The Government’s flagship 24-Hour Economy Programme is attracting significant investor confidence, with over US$11.5 billion in prospective investments and a target of creating 1.7 million quality jobs by the end of President John Dramani Mahama’s current term.

Speaking at a National Labour Conference in Ho with organised labour and employers, Presidential Advisor on the 24-Hour Economy and Accelerated Export Development Programme, Mr Augustus Tanoh, said the programme is designed to fundamentally transform Ghana’s productive sectors rather than introduce incremental reforms.

He identified several structural barriers that continue to undermine Ghana’s competitiveness. These include high logistics costs, which account for up to 60 per cent of the retail price of Ghanaian goods, difficulties in acquiring secure land for investment, inadequate shared infrastructure, and a workforce whose skills do not yet match the demands of a modern industrial economy.

According to Mr Tanoh, these long-standing challenges require comprehensive reforms.

“These do not yield marginal tweaks. They have to be entirely and completely re-engineered,” he stressed.

He disclosed that since the launch of the programme in July 2025, the Government has secured US$11.5 billion in prospective investments, with US$5.5 billion already committed under binding joint development agreements.

He added that 605,000 hectares of land have been mobilised through a participatory land access model that protects community ownership while making land available for productive investment.

Mr Tanoh said the programme aims to generate 1.7 million quality jobs, both directly and indirectly.

He explained that a quality job under the programme must meet clear standards, including paying at least the national minimum wage, providing skills development opportunities, ensuring statutory tax compliance, and offering employment for a minimum of 12 months.

He emphasised that Government alone cannot achieve these ambitious targets.

“Government provides the catalytic instruments. Employers assume the investment risk. Organised labour has the responsibility of ensuring that modernisation translates into decent work rather than greater exploitation of workers,” he stated.

Mr Tanoh urged labour unions to prepare for what could become the largest expansion of Ghana’s organised workforce in decades, noting that the programme could create approximately 1.5 million potential new union members.

He warned that unless labour organisations actively organise workers in emerging industrial zones, labour contractors and informal intermediaries could dominate the workforce, depriving employees of their full benefits.

Mr Tanoh also announced ongoing collaboration with the German Agricultural Workers Union to strengthen rural employment through cooperative enterprises.

He revealed that the Government is overhauling Ghana’s cooperative legislation and intends to expand partnerships with other labour unions.

Beyond job creation, he described the programme as an opportunity to strengthen African economic integration by building regional production systems, supply chains and trade networks that place workers at the centre of development.

The success of the initiative will depend on sustained collaboration between Government, employers and organised labour to transform Ghana into a competitive, industrialised and inclusive economy.

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