As Ghana prepares for the implementation of a 24-hour economy, the Ghana Union of Traders Association (GUTA) is signaling its intention for a major shift in its focus, diversifying from trading into manufacturing and exports to maximize the opportunities the new policy presents.
President of GUTA, Dr. Joseph Obeng, says the trading community wholeheartedly welcomes the flagship policy and is bracing itself for the rewards.
Speaking at the 2025 Deloitte Economic Dialogue on the government’s budget statement and economic policy, the President of GUTA revealed that they are eager to understand the full details and how they will be resourced to take advantage of the initiative.
“Now, with the 24-hour economy, most of us, the trading community, are bracing ourselves for it. How are we going to be resourced? We want to diversify from trading to maybe export and manufacturing,” Dr. Obeng stated.
He emphasized that the association is closely monitoring the government’s next steps, especially as Finance Minister Dr. Cassiel Ato Forson has indicated that a detailed framework for the 24-hour economy will be presented in Parliament.
For decades, Ghana’s economy has been heavily reliant on imports, with traders serving as key players in the distribution of goods. However, the 24-hour economy presents an opportunity for industrialization, increased local production, and expanded export capabilities.
If effectively implemented, it could reduce the country’s over-reliance on imports, create jobs, and strengthen the cedi by boosting foreign exchange earnings through exports.
Economic analysts have long advocated for policies that encourage local value addition and reduce Ghana’s import dependency. GUTA’s readiness to pivot into manufacturing and export aligns with these calls and could mark a new era of industrial expansion in the country.
With expectations high, stakeholders await the government’s roadmap on how businesses, especially traders, will be resourced and supported to transition smoothly into a fully operational 24-hour economy.
