Minister-Designate for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, has described the government’s flagship policy, the 24-hour economy, as a key tool in strengthening Ghana’s agricultural sector and boost its economic impact.
During her ministerial vetting by Parliament’s Appointments Committee on Wednesday, January 22, 2025, Madam Ofosu-Adjare highlighted agribusiness as a major economic driver, which was instrumental in the implementation of the 1 District, 1 Factory (1D1F) initiative by the NPP-led government.
“1D1F is a programme for Ghanaians by the government of Ghana. It has its plusses and minuses,” she stated.
She acknowledged the establishment of several factories across the country under the 1D1F initiative to create jobs and promote the local refinement of raw materials.
However, she noted that challenges such as high interest rates and the unavailability of raw materials have hindered the full realization of the programme’s potential.
“…One thing that government has not been able to do is to pay the extra ten percent that it promised these manufacturers. They also have the issue of raw materials, and we know that the issue of raw materials availability did not start today; it’s been there for long. That is why our industries have not grown to the levels we want,” she explained.
Madam. Ofosu-Adjare emphasized that the introduction of the 24-hour economy could provide the necessary interventions, such as incentives and proper orientation of agribusiness, to address raw material challenges.
“Agribusiness is going to play a key role, and in the agribusiness role, we are going to do commercial contract farming. The commercial contract farming is going to solve the raw materials problem to a very large extent. In so doing, these factories that are signed on to the 1D1F, I’m sure, will sign on to the 24-hour economy and benefit from the raw material availability,” she explained.
