The Association of Ghana Industries (AGI), led by CEO Seth Twum Akwaboah, has issued a stark warning: the current approach to Ghana’s 24-Hour Economy – often defined by slogans – lacks the crucial foundation for genuine transformation. Akwaboah underscored the need for government to move beyond superficial pronouncements and instead prioritize concrete policies and programmes designed to establish a sustainable and impactful 24-Hour economy. He stated, ‘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,’ emphasizing the importance of practical implementation over catchy terminology. His comments come as the government continues its efforts to operationalize the 24-Hour Economy policy, intended to expand economic activity beyond traditional working hours and foster new business opportunities. The policy, initially perceived as somewhat ambiguous, has seen increased clarity through consultations with government, a process Mr. Akwaboah noted has led to a clearer definition of the initiative’s scope. He cautioned against unrealistic expectations of immediate, overnight transformation, contrasting it with the challenges of the former government’s One District, One Factory (1D1F) initiative, which, he explained, had the same initial unclear mandate. Mr. Akwaboah highlighted the need to identify specific interventions – the precise activities and policies required – that will facilitate the shift towards a fully realized 24-Hour economy. He emphasized that the current focus should be on establishing a clear roadmap for implementation, rather than simply aiming for a transformation overnight. Government has already launched a blueprint for the initiative, which he believes contains valuable ideas capable of driving economic growth, and he’s actively engaging the 24-Hour Economy secretariat in its implementation. He affirmed the AGI’s support for the policy and stated that the association is working with the government to ensure its successful implementation. He added, ‘So for me, I embrace it just as we embraced the 1D1F, AGI embraces the 24-Hour Economy, and we are working with government,’ reinforcing the commitment to a collaborative approach. Mr. Akwaboah acknowledged the initial lack of clarity surrounding the policy’s initial intent, and he stated that the government’s initial consultations have helped bring greater clarity. The focus is now on pinpointing the specific actions and policies needed to create a sustained and effective 24-Hour economy, and he emphasized that this requires a deliberate and strategic approach. He reiterated that the current blueprint is a starting point, and the government is actively working towards implementing the ideas contained within it to drive significant economic change.
Source: Adom Online
