Mahama outlines bold initiatives, says 24-hour economy policy rolls out in July – Nsemkeka
President John Dramani Mahama says the government is set to roll out its flagship 24-Hour Economy Policy, with plans to activate the Volta Lake as a major transport corridor and decentralise the implementation of the policy.
Speaking at a multi-sectoral engagement at the Jubilee House, the President revealed that he has reviewed the final draft of the policy and says it is ready to deliver results.
“I have reviewed it, and I’m confident we now have a coherent and actionable framework with which to deliver the results,” President Mahama stated. “An effective catalyst for the 24-hour economy policy is a stable macroeconomic environment, which we are achieving through close coordination between the monetary and fiscal authorities.”
As part of the programme, the government plans to establish a 24-Hour Economy Secretariat to coordinate the rollout. “To guarantee institutional stability, I’m working with Parliament to establish the 24-hour economy secretariat as an independent authority, reporting directly to the President and backed by legislation,” he said.
A major highlight of the policy is the development of the Volta Lake Economic Corridor, which will transform the lake into a national logistics route.
“This corridor, centred on the Volta Lake and the Volta Basin, will become a national production zone and logistics hub,” the President announced. “The plan envisions cultivating over two million hectares of arable lakeside land, revitalising the fishery sector on the lake, and creating a chain of industrial parks that produce goods for domestic and regional markets.”
To support this, the government will invest in new floating assets, lake ports, and long-term partnerships. “The lake will be activated as a transport highway, moving food, people, and goods more efficiently than our congested roads allow us to do currently,” President Mahama explained.
According to the President, the 24-Hour Economy Policy is not just a vision but a structured plan aimed at job creation and inclusive growth. “The 24-hour economy program identifies priority value chains across all regions, and these include agro-processing, pharmaceuticals, textiles, light manufacturing, tourism, digital services, and the creative economy. Each one has specific bottlenecks and the program outlines targeted solutions,” he said.
Infrastructure development will be led by the Ghana Infrastructure Investment Fund, which will oversee the construction of industrial parks, logistics hubs, and transport link upgrades. On the financing side, the Development Bank of Ghana and the Venture Capital Trust Fund will scale up value chain finance for SMEs, cooperatives, and agribusinesses in key sectors.
The President also outlined land and skills development initiatives. “We will develop local land banks zoned, titled, and investment-ready to reduce delays and uncertainty to investors,” he said. “The Aspire24 sub-program will train young people for shift-based work, digital roles, and entrepreneurship.”
The policy is designed to be implemented from the ground up. “It is not a top-down model. It is decentralised,” the President said. “Each district will establish its own 24-hour implementation task force, housed within the district and municipal assemblies, and aligned with our local economic development policy. This will allow each region to define and lead its path of industrial transformation based on its natural comparative advantages.”
The President announced that the draft programme document will be released for public consultation on Tuesday. “We’ll officially launch the 24-hour plus programme in July this year, most probably on Ghana’s Republic Day, which is a symbolic day for a bold new national agenda,” he said.
President Mahama concluded by expressing optimism about the programme’s potential. “This is no longer just a vision. It is a structured, sequenced, and inclusive plan, and its implementation is beginning.”
The 24-Hour Economy Policy was a key campaign promise of President Mahama during the 2024 elections and is now poised to be a central pillar of his administration’s economic transformation agenda.