Augustus Goosie Tanoh, Presidential Adviser on the 24-Hour Economy and Accelerated Export Development, stated that while Ghana pursues a significant industrial transformation agenda, the government’s flagship 24-Hour Economy Program is expected to create 1.7 million productive jobs by 2028.
Speaking on Sunday at the Ghana Diaspora Townhall Meeting with President John Dramani Mahama at the Ghana High Commission in London, Mr. Tanoh stated that the program is already transitioning from policy design to implementation, with early outcomes starting to show up from newly signed agreements.
He disclosed that over 160,000 jobs had already been created by four significant agreements reached in the last ninety days alone, highlighting what he called “strong private sector participation in the initiative.”
The Buipe Solar Farm in the Savannah Region, a $1.45 billion project that is anticipated to generate 13,000 employment and provide what he called the lowest industrial energy pricing in Ghana’s history, is one of the strategic investments that Mr. Tanoh emphasised.
He also mentioned the $300 million Kambonwule Oil Palm Anchor Project, which is expected to create 120,000 jobs and drastically lessen Ghana’s reliance on foreign vegetable oils.
The Bioenergy and Biofuels Program in Buipe and Damanko is another important element. It is anticipated to create 30,000 employment and save the nation about $450 million in foreign exchange each year.
Furthermore, Mr. Tanoh revealed that the Tamale Air Cargo Hub has been completely delineated and will house two operators that are anticipated to start operations in 2027, establishing northern Ghana as a hub for exports and logistics.
Noting that job multipliers in such large-scale infrastructure and agro-industrial projects usually range between one and four new jobs for every direct job produced, he emphasised that these statistics do not include indirect or induced employment effects.
The adviser’s comments were made in light of Ghana’s continuous economic recovery during President Mahama’s administration, which took office in January 2025.
He stated that after fifteen months of disinflation, inflation had dropped to 3.4%, the lowest level in more than four years.
International reserves now total $14.5 billion, or about six months’ worth of import coverage, while the Bank of Ghana policy rate has also been drastically lowered from 28% to 14%.
Regarding fiscal figures, he pointed out that although the economy grew by 6% in 2025, public debt has drastically decreased from a peak of 92.4% of GDP to roughly 48%.
Mr. Tanoh warned that the growth is still structurally uneven, with the services sector accounting for about 60% of output and industry making up only 12% and rising at a rate of only 2.3%.
“That gap is what our second pillar exists to close, and that is the work of the 24-Hour Economy and Accelerated Export Development Programme.” he stated.
The Volta Lake Transport System, the Singa Agroecological Corridor, the Asutuare Pharmaceutical and Garment Parks, and the National Poultry Program are among the other initiatives supporting the program, he continued, and they are all supported by signed contracts and committed private funding.
Mr. Tanoh emphasised, “These are signed agreements with private capital committed, in motion now.”
Additionally, he strongly appealed to the Ghanaian diaspora, pointing out their increasing financial support for the country’s advancement. The United Kingdom is Ghana’s second-largest source of remittances behind the United States, with remittances reaching a record $7.8 billion in 2025, up from over $4 billion six years prior.
“Your country is ready for you,” Mr. Tanoh said in closing.
Source: newsthemegh.com