News Guide Africa

Tag: 24-hour economy

  • PPP gaining attention for impact on national growth amidst BIG PUSH agenda

    PPP gaining attention for impact on national growth amidst BIG PUSH agenda

    Ghana is witnessing a growing interest in Public-Private Partnerships (PPPs) as a means to drive national growth and development.

    The Vice Chancellor of Methodist University Ghana, Prof. William Baah Boateng, has emphasized the need for a stronger governance framework to guide PPPs, citing their potential to facilitate infrastructure development, job creation, and sustainable growth.

    Speaking at the 10th Ghana Corporate Executives Awards, last week in Accra, he said effective public private collaborations have the potential to become “vehicles for trust, efficiency, and sustainable impact” when properly structured and monitored.

    “Public private partnerships facilitate infrastructure development and service provision without relying solely on public budgets. A working PPP (framework) will promote job creation, technology transfer, and sustainable development,” he intimated.

    Prof. Boateng indicated that while the private sector provides efficiency and innovation, the public sector ensures legitimacy and protects the public interest hence a strong alliance between the two sectors can create lasting public value when guided by robust governance.

    Ghana’s infrastructure quality score currently stands at 47 out of 100 about 10 points below the average for lower-middle-income countries, and the country invests roughly 5 percent of GDP in infrastructure, slightly below peers who average 5.4 percent.

    Also, Prof. Kwaku Appiah-Adu, a policy consultant and professor of strategy at GIMPA, believe PPPs are indispensable for modern governance, allowing governments to harness private creativity, efficiency, and capital while maintaining regulatory oversight.

    Government Initiatives:

    Big Push Agenda: The government is expanding road networks, upgrading rail, air, and seaport facilities, and promoting sustainable mass transit systems which need major funding such as the PPP arrangement.

    Transportation Modernization: The government aims to modernize Ghana’s transport infrastructure to improve market access, enhance competitiveness, and support long-term economic growth.

    The Chartered Institute of Logistics and Transport has emphasized the importance of efficient logistics and transport systems in positioning Ghana as a competitive logistics hub. The success of government policies, including the 24-hour economy, hinges on the efficiency of supply chains and the robustness of the country’s logistics networks.

    Speaking on behalf of the Transport Minister at the Chartered Institute of Logistics and Transport’s Conference and Annual General Meeting, Director of Human Resources at the Ministry, Nathaniel Amonoo Wilson, said the agenda includes expanding road networks under the Big Push initiative, upgrading rail, air and seaport facilities, and promoting sustainable mass transit systems.

    He noted that these interventions are central to improving market access, enhancing competitiveness, and supporting long-term economic growth.

    “As we all know, transportation is a key driver of trade, both between nations and within them, promoting socioeconomic growth and development. Transport services are crucial for accessing global markets, improving international trade, and attracting foreign investment. For this reason, the need to develop a seamless, integrated transport system must remain a strategic priority to influence our growth and development.

    “The government is therefore embarking on a sustained programme to improve and modernize transport infrastructure and services through road network rehabilitation and expansion under the Big Push Agenda, railway rehabilitation and redevelopment, expansion and rehabilitation of our air and sea ports facilities, and the promotion of sustainable mass transportation systems,” he said.

    Presidential Advisor and Special Aide to the President, Joyce Bawah Mogtari, also underscored the government’s commitment to building a business-friendly environment that supports private sector growth.

    She noted that efficient logistics and transport systems will be central to positioning Ghana as a competitive logistics hub.

    “As a government, our priority remains to build a business-friendly environment that promotes investment, innovation, and sustainable logistics systems. Through targeted policy reforms, infrastructure upgrades, and partnerships with the private sector from port modernization and corridor development to railway and inland water transport revitalization we are laying the foundation for Ghana to become a regional logistics hub. These interventions reflect our belief that a resilient and efficient logistics system is central to achieving industrial growth, food security, and job creation,” she said.

    President of the Chartered Institute of Logistics and Transport, Mark Amoamah, on his part says the success of government policies including the 24-hour economy will hinge on the efficiency of supply chains and the robustness of the country’s logistics networks.

    “Ghana stands at a critical crossroad as the government strives to reset our nation and implement the 24-hour economy for the benefit of all. The efficiency of our supply chains, the robustness of our logistics networks, and the modernity of our transport infrastructure are key determinants of the success of these policies. This theme challenges us, as leaders and professionals, to move beyond discussing problems but to start engineering concrete, implementable solutions that will truly unlock our nation’s economic potential,” he remarked.

     

    By Adnan Adams Mohammed

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

  • NPA sets up steering committee to support Mahama’s 24-hr economy

    NPA sets up steering committee to support Mahama’s 24-hr economy

    The National Petroleum Authority (NPA) has announced the formation of a steering committee within the institution to oversee the implementation of President John Dramani Mahama’s 24-hour economy vision in the energy sector.

     

    Speaking at the launch of the NPA’s Consumer Week Celebration, themed “LPG: A Sustainable Energy for a Better Tomorrow,” the Chief Executive Officer of the Authority, Godwin Kudzo Tameklo, said the initiative aims to ensure affordability, quality, fair pricing, and strict adherence to industry standards.

     

    He added that the move aligns with President Mahama’s broader goal of resetting and transforming the energy sector under the 24-hour economy policy framework.

     

    “Our commitment remains to ensure fair pricing and strict adherence to industry standards, in alignment with the vision of His Excellency, President John Dramani Mahama, as he promised to reset and transform the sector while rolling out the 24-hour economy initiative. Today, at the Authority, we have put together a steering committee on the rollout of the 24-hour economy policy,” he said.

     

    Meanwhile, the Member of Parliament for Ashaiman, Ernest Henry Norgbey, has called on the NPA and the Ministry of Energy and Green Transition to establish additional LPG exchange points within the constituency.

     

    Mr Norgbey explained that creating more exchange points would not only improve accessibility and safety but also reduce overcrowding at existing LPG stations and minimise the risks consumers face when travelling long distances for gas refills.

  • Volta Economic Forum 2025: A New Era for Ghana’s Economic Development

    Volta Economic Forum 2025: A New Era for Ghana’s Economic Development

    The Volta Region is set to host the inaugural Volta Economic Forum 2025 this week, at the Reddington Beach Resort in Keta.
    This landmark event aims to position the region as Ghana’s next economic frontier, attracting local and international investors across key growth sectors.
    The Forum is a significant step towards unlocking the region’s economic potential and promoting sustainable development. With its rich resources and strategic location, the Volta Region is poised to become a major economic hub in Ghana
    With the theme “Harnessing the Volta Corridor Economic Potential for the 24-Hour Economy Take-off,” the Forum is designed as a strategic investment platform to attract both local and international investors across key growth sectors including energy, agribusiness, tourism, manufacturing, logistics and the blue economy.
    Organisers say the Forum goes beyond dialogue. It aims to chart a coordinated policy framework that aligns public and private sector priorities for inclusive and sustainable regional development.
    Dr. Elikplim Kwabla Apetorgbor, Volta Regional Commissioner of the National Development Planning Commission, described the upcoming Forum as “a defining moment and a call to action for investors and policymakers to unlock the region’s full potential.”
    According to him, Volta’s strategic coastal location, skilled workforce, and expanding infrastructure base make it a prime destination for investment and industrial growth under Ghana’s evolving 24-hour economy initiative.
    The Ghana Investment Promotion Centre (GIPC), through its flagship Investment Opportunity Mapping Project (IOMP), is spearheading this process by identifying and promoting localised economic potential across all 261 districts.
    The Volta Region, described by Regional Minister, Mr James Gunu as “a land of peace, purity, and possibility,” stands out for its fertile land, rich water bodies, and skilled human resource base. Over 700,000 hectares of arable land remain uncultivated, offering a vast canvas for agribusiness expansion.
    Through the Grow24 initiative, anchored in the 24-hour economy policy, the region is promoting mechanised farming, cold-chain systems, and farmer cooperatives to scale agricultural productivity.
    Key crops include maize, rice, cassava, coffee, tomatoes, and yams, while the Volta Lake supports a thriving aquaculture sector with opportunities in fish feed, processing, and packaging.
    Agro-processing industries, particularly in rice milling, cassava starch, tomato paste, and palm oil, are expanding under new partnerships.
    With its proximity to Togo and connection to the national transport network, Volta also serves as a strategic trade and logistics corridor, linking northern Ghana to export gateways through lake transport.
    Agriculture and agro-Industry:
    Volta’s soil fertility supports year-round cultivation of pawpaw, banana, coconut, maize, and yam. Rice farms at Aveyime, Weta irrigation projects, and cassava processing facilities are key investment-ready ventures. Cocoa and shade-tree agroforestry, citrus and honey production, and cassava-maize value chains also hold significant promise.
    Manufacturing and industrialisation:
    The region is home to Mayanar Fabrications Ltd., Hohoe Auto Industrial Park, and the Juapong Textiles Factory, with additional opportunities in quarrying and cement distribution through the Diamond Cement factory in Aflao. Under the MAKE24 Industrial Parks Programme, plans are underway for agro-processing, renewable energy, and textile clusters powered by solar and bioenergy.
    Renewable energy and sustainability:
    Partnerships involving Cotech Ghana Ltd., GreenTek Ventures, UHAS, and Ho Technical University are pioneering biogas digesters and solar-powered water systems. Hybrid solar grids at Aveyime demonstrate Volta’s capacity for clean, self-sufficient energy solutions.
    Service and hospitality sector:
    Volta’s emerging urban centres are ideal for private clinics, diagnostic centres, Business Process Outsourcing services, and hotels or conference venues. These facilities will complement regional industrialisation and tourism.
    Tourism, culture, and craftsmanship
    Volta’s natural and cultural landscapes remain among Ghana’s most scenic. Attractions such as Wli Falls, Mount Afadja, Tagbo Falls, Amedzofe, Mount Gemi, Tafi Atome, and the Likpe Ancestral Caves provide opportunities for eco-lodges, guided adventure tourism, and cultural experiences.
    In Vume, the region’s renowned pottery industry demonstrates a thriving craft tradition ripe for commercial expansion. Alongside Kpetoe’s kente weaving and Avatime’s handicrafts, these industries form the foundation of a creative economy that can blend cultural authenticity with export potential.
    From Kpeve’s panoramic highlands to Lake Volta’s scenic waterfront, opportunities abound in eco-resorts, leisure cruises, and sustainable tourism investments.
    Reviving legacy industries
    The government’s plan to revive the Hohoe coffee factory, originally established by Dr Kwame Nkrumah, underscores its commitment to rural industrialisation. Mr Gunu has assured coffee farmers of renewed government and investor support to restore commercial coffee farming and processing, with the aim of branding Ziavi Coffee as a unique regional product for domestic and export markets.
    These initiatives complement ongoing work in cassava and maize processing, cocoa fermentation, and agro-based manufacturing, offering investors ready markets and structured value chains.
    The roadshow framework and collaboration
    The Volta Regional Investment Roadshow will unfold over three days, beginning with courtesy calls to traditional leaders, media engagements, and project site visits. The central event at the University of Health and Allied Sciences, Ho, will feature stakeholder presentations, business-to-business (B2B) sessions, and project showcases linking investors with project developers.
    Participating partners include the Office of the Chief of Staff, 24-Hour Economy Secretariat, Ministry of Trade and Industry, Ghana Export Promotion Authority, Ghana Tourism Authority, Ghana National Chamber of Commerce and Industry and the Volta Regional Coordinating Council.
    Mapping Opportunities for Ghana’s Future
    The IOMP launched in July 2025, represents a bold shift toward evidence-based investment promotion. It aims to build a comprehensive database of verified district-specific opportunities to guide investor decisions.
    Speaking at the project’s launch, Chief of Staff, Mr Julius Debrah described it as “a turning point for Ghana’s development, ensuring that every Ghanaian has a fair chance to benefit from investment-led growth.”
    GIPC’s Chief Executive Officer, Mr Simon Madjie(Esq.), has been instrumental in driving this vision. With extensive experience in trade policy, law, and business networking, he has emphasised the need to grow both Local Direct Investment and Foreign Direct Investment. His approach centres on connecting Ghanaian enterprises with global markets through data, partnerships, and innovation.
    Mr Madjie explained that the IOMP is not only about identifying opportunities but ensuring that they translate into bankable projects that create jobs and improve livelihoods.
    The Volta Regional Investment Roadshow offers a gateway for investors seeking sustainable, high-impact ventures. With abundant natural resources, skilled labour, renewable energy potential, and strong government support, the Volta Region stands ready to drive Ghana’s next phase of inclusive growth.
    As Minister James Gunu affirmed, “The future of Ghana’s 24-hour economy begins here, in the Volta Region. Ghana is open for business again. Visit Volta, experience Ghana.”
  • ADI Calls for Stronger Ghana–Germany–KfW Partnership to Drive 24-Hour Economy through Agriculture, Agro-Processing, and Renewable Energy

    ADI Calls for Stronger Ghana–Germany–KfW Partnership to Drive 24-Hour Economy through Agriculture, Agro-Processing, and Renewable Energy

    The Alliance for Development and Industrialization (ADI) is urging the Government of Ghana to deepen collaboration with the Government of Germany and the KfW Development Bank, a member of the International Development Association (IDA), to accelerate the nation’s 24-Hour Economy through agriculture, agro-processing, and renewable power development.

     

    According to ADI, Ghana’s 24-Hour Economy concept designed to boost industrial productivity and job creation can only be achieved sustainably when backed by reliable, low-cost, and renewable energy sources such as solar and biofuels, and supported by robust agro-industrial value chains.

     

    “Germany and KfW have long been central to Ghana’s development story,” said Dr Richard Mensah, Convenor of ADI. “They have helped modernize our agricultural sector, strengthen technical and vocational education, and establish key institutions such as the Development Bank Ghana (DBG) and the Outgrower and Value Chain Fund (OVCF). These are the right partners to lead Ghana’s next growth phase under the 24-Hour Economy.”

    ADI is advocating for the expansion of Germany’s successful KfW OVCF programme, which has already provided innovative financing and support to smallholder farmers and agribusinesses. The organization proposes broadening this initiative to cover key high-potential commodities that can drive industrialization and export growth specifically:

    Palm and Coconut – for edible oils, cosmetics, and renewable biofuel production.

    Citrus and Tropical Fruits – for juices, concentrates, and processed exports.

    By-products and Waste – for organic fertilizers, feed, and bioenergy.

    The expansion, ADI says, should include value addition, processing, and export linkages, ensuring farmers and local processors can benefit directly from global markets while creating sustainable jobs.

    For Ghana to operate a 24-hour production and services system, renewable energy must form the base of industrial and rural power supply. ADI highlights that solar farms, distributed mini-grids, and biofuel systems can provide “free and clean” energy to agro-processing zones, cold-chain facilities, and rural industries reducing cost pressures and ensuring continuous operation.

    “The 24-Hour Economy must be powered by renewable and free energy sources that ensure factories, farms, and logistics hubs can operate round the clock,” he added. “This approach will make Ghana’s exports more competitive and environmentally sustainable.”

    Germany remains one of Ghana’s most consistent and effective development partners. Over the decades, German cooperation has spearheaded programs in:

    Agricultural modernization and value chain finance (via KfW and GIZ).

    Technical and vocational education and training (TVET), equipping youth with employable skills.

    Industrial financing through the establishment of the Development Bank Ghana (DBG).

     

    Renewable energy projects, supporting Ghana’s energy transition towards sustainable growth.

    ADI believes that building on this foundation through a formal Ghana–Germany–KfW partnership will create a unified framework to support agro-industrial zones, renewable energy infrastructure, and export-oriented manufacturing.

    ADI is therefore calling on policymakers to prioritize the creation of a Ghana–Germany–KfW 24-Hour Economy Initiative, which would integrate:

    Agriculture and value chain financing expansion through OVCF.

    Agro-processing industrial parks powered by renewable energy.

    Export facilitation for palm, coconut, citrus, and fruit-based products.

    Youth training and enterprise support through TVET-linked programs.

    “Germany and KfW have the expertise, capital, and technology to make Ghana’s 24-Hour Economy a reality,” ADI concluded. “With their partnership, Ghana can transition from raw commodity exports to a renewable-powered agro-industrial nation that operates efficiently, inclusively, and sustainably.”

     

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    About ADI

    The Alliance for Development & Industries (ADI) is a policy and investment platform promoting agricultural transformation, renewable energy adoption, and inclusive economic growth across Africa. ADI is seeking to work with communities, governments, development agencies, and private investors to build sustainable value chains and job-creating enterprises.

  • UK woos Ghanaian businesses to explore trade partnerships

    UK woos Ghanaian businesses to explore trade partnerships

    The United Kingdom (UK) government is encouraging Ghanaian businesses to view the UK as a strategic hub for trade partnerships that can drive mutual economic growth.

    According to the UK government, the country remains committed to supporting Ghana’s development ambitions, including its 24-hour economy agenda, through stronger commercial collaborations.

    Speaking to the media after the UK–Ghana Trade and Investment Forum in Accra, the UK Trade Commissioner for Africa, John Humphrey, emphasised that Ghana enjoys privileged access to the UK market and should leverage this advantage.

    “We talked about the Government of Ghana’s initiative, but the UK government also has a long-standing trade partnership agreement with Ghana, and we’re celebrating its fifth anniversary at the moment. One of the things we really want to do is encourage more Ghanaian companies to understand the privileged access they have to the UK marketplace and to take advantage of it. Programs like Growth Gateway are designed to help Ghanaian companies enter and navigate the UK market,” Humphrey said.

    He added that while this is not directly tied to Ghana’s 24-hour economy push, it reflects the broader commitment to deepening economic ties between the two countries.

    Meanwhile, Presidential Advisor on the 24-Hour Economy, Goosie Tanoh, announced that the 24-Hour Economy Secretariat will soon be upgraded into a fully-fledged authority with an expanded mandate.

    He disclosed that a draft bill to establish the authority will be laid before Parliament in October.

    “The authority law is ready. It has been approved by Cabinet and will be presented to Parliament by the Attorney General in the next session. Parliament resumes in October, and I’m confident the law will form part of the deliberations,” Tanoh explained.

    Highlighting the importance of the forum, the Executive Director of the UK–Ghana Chamber of Commerce, Adjoba Kyiamah, noted that it provides an opportunity to align both countries’ growth agendas with the interests of businesses.

    “This forum is very important to us at the UK–Ghana Chamber of Commerce because our work involves engaging with both governments on behalf of our member companies. The UK government has a growth agenda, Ghana has a growth agenda, and the two align perfectly. Our member companies exist to remain viable, sustainable, and to contribute to both economies,” she said.

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

  • Mahama’s reset agenda puts youth at the forefront of inclusive growth, building a sustainable future – Chief of Staff Julius Debrah

    Mahama’s reset agenda puts youth at the forefront of inclusive growth, building a sustainable future – Chief of Staff Julius Debrah

    Chief of Staff, Julius Debrah has indicated government’s unrelenting commitment to fostering an inclusive economy that guarantees equal opportunities for all citizens, with a strong emphasis on youth empowerment, job creation, and social justice.

    The address was delivered on his behalf by Deputy Presidential Spokesperson Shamima Muslim at the 2025 National Emerging Leaders Economic Forum, held at the esteemed University of Professional Studies, Accra (UPSA), under the auspices of VODEC Africa. The forum’s theme, “Building an Inclusive Economy: Ensuring Equal Opportunities for All Citizens,” which rings deeply with the spirit of this year’s Founders’ Day celebrations.

    With unyielding conviction, Debrah underscored the paramount importance of youth empowerment, citing stark statistics that reveal a staggering 1.9 million Ghanaian youth were not in employment, education, or training (NEET) last year.

    He stressed that an inclusive economy must deliberately create dignified jobs for young people, expand opportunities for women, protect the vulnerable, and ensure justice in the distribution of national resources.

    President Mahama’s Reset Agenda is anchored on the pillars of Jobs, Accountability, and Shared Prosperity, with visionary interventions including the newly established Youth Ministry.

    This ministry oversees key agencies such as the Youth Employment Agency, National Youth Authority, National Service Authority, and National Entrepreneurship and Innovation Programme.

    Flagship policies designed to equip young Ghanaians with skills, resources, and opportunities include the groundbreaking 24-Hour Economy, National Apprenticeship Programme, Adwumawura Programme, Youth Entrepreneurship Fund, and One Million Coders initiative.

    The Adwumawura Programme is also set to revolutionize youth entrepreneurship, supporting the creation of 10,000 youth-led enterprises annually through 200 hubs nationwide.

    Mr.Debrah highlighted the significance of Africa’s youthful population, noting that over 60% of the continent’s population is under 30. While this presents boundless opportunities, it also poses formidable risks if quality education, skills, and jobs are not prioritized.

    Mr. Debrah eloquently concluded, quoting the renowned anthropologist Margaret Mead, “Never doubt that a small group of thoughtful, concerned citizens can change the world. Indeed, it is the only thing that ever has.”

    This profound remark underscores the transformative role young leaders play in shaping Ghana’s future, inspiring a new generation of visionary leaders to drive meaningful change.

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  • Ghana launches world’s first digital Supply Chain Management Compendium

    Ghana launches world’s first digital Supply Chain Management Compendium

    Ghana has launched the digital and online version of the Supply Chain Management Compendium (SCMPEDIA), making the world’s only all-inclusive supply chain knowledge base instantly accessible to businesses, policymakers, students, and professionals worldwide.

    The digital platform builds on earlier print editions introduced in 2013 and 2015. It offers thousands of defined supply chain and procurement terms, standardising concepts to support industrialisation, strengthen AfCFTA trade, and accelerate Africa’s long-term economic growth.

    Deputy Finance Minister Thomas Nyarko Ampem, speaking at the launch on Wednesday, September 17, described SCMPEDIA as a vital tool for Ghana’s 24-hour economy and Africa’s development agenda.

    “A well-trained and knowledgeable supply chain workforce is critical… SCMPEDIA is not only a must-have for every Ghanaian and African citizen, but also a strategic resource for anyone committed to building competitive industries and sustainable economies,” he said.

    President of the Ghana Institute of Procurement and Supply (GIPS), Simon Annan, added that SCMPEDIA links theory to practice and will help governments, businesses, and students make decisions that create jobs and build resilient supply chains.

    CEO of PanAvest International and pioneer of SCMPEDIA, Professor Douglas Boateng, stressed the company’s mission to democratise supply chain knowledge.

    He said both a mobile app and a French version will be available by December 31, 2025, broadening access across the continent.

    Prof Boateng noted that SCMPEDIA is more than a reference tool, describing it as “a movement to empower Africa and the world through knowledge.”

    He added that 15 per cent of subscription proceeds will support education, building the talent base needed to drive AfCFTA and achieve the aspirations of Agenda 2063.

     

     

  • MOU signed with Arab Bank for Economic Development in Africa to strengthen 24-Hour economy programme

    MOU signed with Arab Bank for Economic Development in Africa to strengthen 24-Hour economy programme

    The government of Ghana through the 24-Hour Economy Secretariat has signed a Memorandum of Understanding (MoU) with the Arab Bank for Economic Development in Africa (BADEA) to advance Ghana’s economic transformation agenda.

    The signing ceremony, held at the Bank of Ghana in Accra, establishes a framework for collaboration to finance and accelerate key pillars of the government’s 24-Hour Economy & Accelerated Export Development Programme (24H+).

    In his remarks, Presidential Advisor on the 24H+ Programme, Mr. Goosie Tanoh, underscored the direct impact of the partnership on Ghanaian businesses and households.

    “This MoU opens new doors for the Ghanaian entrepreneur who wants to expand production, the farmer looking to grow her shop, and the young innovator with an idea that can change our country,” he said.

    Mr. Tanoh expressed appreciation to BADEA for its confidence in Ghana’s economy and its people.

    The President of BADEA, H.E. Abdullah Almusaibeeh, who led the bank’s delegation, commended Ghana’s vision for inclusive growth.

    “With this memorandum of understanding, we are laying the foundation for a new and promising chapter in Arab-African cooperation,” he said.

    He outlined the scope of the collaboration, which will provide

    Technical assistance to strengthen capacity for programme implementation.

    A trade finance facility to support Ghana’s food security strategy and balanced trade.

    Affordable financing for small businesses, enabling Ghanaian enterprises to expand and create jobs.

    Support for Public-Private Partnerships (PPPs) to accelerate investment in infrastructure.

    The Second Deputy Governor of the Bank of Ghana, Mrs. Matilda Asante-Asiedu, welcomed the partnership and underscored the central bank’s role.

    “This signing is more than symbolic; it demonstrates our shared commitment to Africa’s structural transformation,” she said. “The Bank of Ghana will continue to ensure a stable financial environment that supports this initiative.”

    The partnership with BADEA represents a critical step in mobilizing investment to modernize key sectors of the economy, enhance competitiveness, expand exports, and create decent jobs, especially for Ghana’s youth and women.

    About BADEA

    The Arab Bank for Economic Development in Africa (BADEA) is a financial institution owned by Arab member states of the Organization of Arab Petroleum Exporting Countries (OAPEC). Its mandate is to contribute to Africa’s economic development and strengthen economic cooperation between Arab and African nations.

  • Ghana open for business 24/7 – Mahama to investors

    Ghana open for business 24/7 – Mahama to investors

    President John Dramani Mahama has assured international investors that Ghana is fully open for business round the clock.

    Speaking to government leaders and business executives at the 8th Africa–Singapore Business Forum last week, he said Ghana’s economic strategy was focused on productivity, exports, and job creation.

    “Our economic strategy is anchored in productivity, exports, and jobs. We call it the 24-hour economy for a reason. Ghana is open for business 24 hours a day,” President Mahama said.

    He explained that the government is putting in place infrastructure, incentives, and skills training to support businesses that want to operate day and night including factories, farms, sports facilities, and service centres.

    A key part of the strategy is the Volta Economic Corridor, which the president described as Ghana’s most ambitious development plan to date. It is built on four pillars:

    Irrigating more than two million hectares for year-round farming.
    Setting up agro-industrial parks for textiles, pharmaceuticals, and food processing.
    Boosting tourism and hospitality along Lake Volta.
    Transforming Lake Volta into a transport spine to reduce logistics costs and connect factories to markets.

    President Mahama said these are being supported by major projects such as the Legon Pharmaceutical Innovation Park, the Kumasi Machinery and Technology Park, the Akosombo and Juapong Garments and Textiles Park, Digital TVET Centres of Excellence, and Renewable Corridors.

     

     

     

  • Gov’t to table revised GIPC Bill, 24-Hour Economy Authority framework in parliament

    Gov’t to table revised GIPC Bill, 24-Hour Economy Authority framework in parliament

    The government will soon lay before Parliament a revised Ghana Investment Promotion Centre (GIPC) Bill alongside a framework for establishing a 24-Hour Economy Authority, as part of efforts to boost investment inflows and expand economic activity.

    President John Dramani Mahama disclosed this at the Ghana–Singapore Business Dialogue, adding that he has directed the Attorney General and the finance minister to table the bills.

    He positioned the reforms as part of efforts to attract foreign capital, while pitching Ghana as a regional hub and home to the African Continental Free Trade Area (AfCFTA) Secretariat, in a bid to draw Singaporean investors.

    “We have amended our public procurement law and streamlined approvals under the Ghana Investment Promotion Centre Act to provide fast and transparent pathways for investment. Under my leadership, Ghana will be a trusted, open and reliable investment partner. To give effect to this vision, I have directed the Attorney General and Minister of Finance to lay before Parliament two landmark bills [which are] the revised GIPC bill and the legal framework establishing the 24-hour economy authority.

    “In the revised act, we have included the most favored nation status, and I am sure Singapore will qualify. Most favored nation treatment, fair and equitable treatment and investment facilitation to make Ghana one of the most business-friendly destinations on the continent,” President John Dramani Mahama said.

    President John Dramani Mahama recently announced at the Presidential Investment Forum in Japan that Ghana is set to abolish the minimum capital requirement for foreign investors under a planned review of the Ghana Investment Promotion Centre (GIPC) Act.

    He assured that Ghana remains open for business and urged more Japanese companies to explore opportunities in the country.

    Meanwhile, the Association of Ghana Industries (AGI) says it will hold talks with government as it reviews the Ghana Investment Promotion Centre Act.

    For economist Professor Godfred Bokpin, policymakers must strike a balance between attracting foreign direct investment and safeguarding the interests of local businesses.