Ghana’s industrial ambitions under the proposed 24-hour economy will depend heavily on access to affordable long-term financing and lower electricity costs, as manufacturers seek the capacity to expand production and compete with imported goods.
The Association of Ghana Industries (AGI) says the government must use the 2027 Budget to address these constraints if local manufacturers are to take advantage of the opportunities expected from extended business operations.
Chief Executive Officer of the AGI, Seth Twum Akwaboah, said industrial businesses needed medium-term development financing to expand production capacity, increase output and achieve economies of scale.
He said improved access to capital would allow manufacturers to reduce unit production costs, strengthen their competitiveness and capture a larger share of the domestic market.
The financing requirement also has implications for Ghana’s import bill, as increased domestic production could reduce reliance on imported goods while creating additional employment opportunities across manufacturing value chains.
With Finance Minister Dr Cassiel Ato Forson scheduled to present the 2027 Budget Statement and Economic Policy to Parliament on November 12, 2026, industry players are looking for clearer fiscal and financing measures to support industrial expansion.
Beyond financing, the AGI wants the budget to address what it considers an uneven trading environment for local manufacturers, particularly the impact of unfair trading practices on businesses competing with imported products.
Mr Akwaboah said stronger measures were needed to protect domestic industries and ensure that local manufacturers could compete on more favourable terms.
Electricity costs remain another major concern for the manufacturing sector, with the AGI warning that rising tariffs are increasing operating expenses and putting pressure on production costs.
He said electricity tariffs for bulk consumers had increased by more than 40%, creating additional financial difficulties for businesses that depend heavily on power to sustain production.
For manufacturers operating on tight margins, higher energy costs can affect pricing decisions, reduce profitability and weaken their ability to compete with imported alternatives.
The association is also looking to the budget for increased investment in the government’s 24-hour economy, 24-hour market projects and Big Push road infrastructure programme.
While the AGI considers these initiatives important to industrial development, it says their economic benefits will depend on how effectively local businesses are positioned to participate in their implementation.
The association has expressed readiness to contribute industry expertise towards the execution of the programmes, particularly in strengthening local production and ensuring that businesses benefit from the opportunities created.
For Ghana’s manufacturing sector, the 2027 Budget therefore presents an opportunity to address the cost and financing pressures that could determine whether the country’s industrial ambitions translate into higher domestic output, stronger market competitiveness and reduced import dependence.
