24-Hour Economy must go beyond slogans – AGI President demands concrete action

The President of the Association of Ghana Industries, Seth Twum Akwaboah, has called on the government to transition from mere slogans and concentrate on practical policies and programs necessary to make Ghana's 24-Hour Economy a success. He emphasized that the effectiveness of the policy should be evaluated based on the practical steps taken to alter the current situation, rather than the catchy name given to it.

Akwaboah emphasized that the government should pay attention to how policies are developed and executed, questioning the consultative nature of the policy development and the key activities within the policy aimed at changing the status quo.

The 24-Hour Economy policy, intended to extend economic activities beyond regular hours, has been a focal point of the government's efforts. However, it has been shrouded in uncertainty, prompting questions from businesses and stakeholders. Akwaboah, acknowledging the policy's initial ambiguity, noted that consultations with the government have contributed to its clarification. He expressed that while the policy won't instantly transform the economy, the government should not expect overnight changes.

Comparing the 24-Hour Economy policy to the former government's One District, One Factory (1D1F) initiative, Akwaboah underscored the need for specific actions to realize the vision. He stressed that the focus should now be on defining the particular activities, policies, and programs required to make the 24-hour economy a reality. The government's progress in this regard includes the launch of a blueprint for the initiative, which Akwaboah believes contains transformative ideas if implemented properly.

Akwaboah reiterated the AGI's support for the policy, reaffirming the association's involvement in its implementation. He emphasized that the AGI is working with the government's 24-hour economy secretariat to execute the policy's components.