The Association of Ghana Industries (AGI) has reaffirmed its strong support for the government’s 24-Hour Economy policy, stressing that industry must drive the initiative for it to succeed.
Mr Kofi Nsiah-Poku, President of AGI, said without manufacturing and agriculture, the 24-Hour Economy would not achieve its objectives.
“We believe that the core of the 24-Hour Economy is industrial and agricultural development. Services are important, but they must be linked to production,” he stated.
The AGI welcomed the passage of the 24-Hour Economy Authority Bill into law and commended government for recent tax reforms .
However, it noted that legislative measures alone would not automatically result in active participation or job creation unless deliberate steps were taken to improve the business environment.
Mr Nsiah-Poku explained that operating around the clock requires reliable infrastructure, affordable electricity, access to development financing, and efficient transportation and security systems.
“When industries work in shifts, financial institutions must also support them. Workers need transport and security. It must be a coordinated ecosystem,” he said.
He disclosed that AGI had engaged the 24-Hour Economy Secretariat extensively and had contributed ideas to the policy framework. The Association is also in discussions with financial institutions, including development finance institutions, to secure medium- to long-term funding for industrial expansion.
Mr Nsiah-Poku emphasised the importance of developing local value chains to reduce dependence on imported raw materials. “If you import most of your inputs, you are at the mercy of exchange rate fluctuations. Strong local value chains ensure competitive pricing,” he noted.
He added that government’s role in facilitating infrastructure, credit access, and regulatory enforcement was critical.
AGI pledged to sensitise its members to prepare for operational adjustments, including capacity development and technical upgrades, to enable them to participate effectively in the 24-Hour Economy framework.
The President said AGI’s membership spanning agriculture, agro-processing, manufacturing and services, places the Association at the centre of driving the policy’s success.
“We are ready to partner government to make the 24-Hour Economy a success and to ensure it delivers exports, jobs and shared prosperity,” he said.
