Goosie Tanoh, the Special Advisor on the 24-Hour Economy, has stated that the 24-Hour Economy Secretariat is open to constructive criticism and suggestions.
He asserted that the 24-Hour Economy is a dynamic, science-driven initiative embedded in social democratic values and calculated to adjust to the needs of a changing national environment.
Speaking at the official launch of the programme on Wednesday, July 2, Goosie Tanoh stated, “We at the secretariat are confident that we will continue to receive constructive criticism and suggestions for further improvement.
Criticism is always welcome. We see the 24-hour programme as a living programme, rooted in science and firm social democratic principles, but flexible enough to respond tactically to a changing environment”.
“We will learn many lessons along the way and make numerous adjustments. This is the only way a programme can transform our society in the short, medium, and long term,” he stated.
“We can say without a doubt that our President is a true champion of responsible entrepreneurship and national transformation. We, as a country, we, as a people, have what it takes to succeed,” he noted.
“We, as a country, we, as a people, have what it takes to succeed,” Mr. Tanoh affirmed.
The initiative is designed to encourage continuous, shift-based work in industries such as manufacturing, agro-processing, healthcare, transportation, and retail.
The Mahama government, during the campaign in 2024, described the 24-Hour Economy policy as a game changer.
According to the NDC government, the policy is expected to create more jobs, increase national output, and unlock value across supply chains.
Goosie Tanoh stated that the policy will attract $4 billion in private sector investment over the next few years.
According to him, the policy will focus on improving the regulatory environment by offering incentives to position Ghana as a more competitive destination for local and foreign investors.
He asserted that the 24-Hour Economy goals are to reverse the trend of businesses relocating to Côte d’Ivoire due to more favourable conditions.
Speaking ahead of the official launch of Ghana’s 24-Hour Economy, Goosie Tanoh stated, “The total investment required is about $4 billion times ten, so GHS 400 billion. We hope it stays that way, and most of it is going to come from the private sector.
One of the problems investors have had in working in Ghana and I am sure all of you have heard that because not the unpredictable and incoherent incentive regimes and the high costs of operations in Ghana including the under table payments and requests of corruption, some companies left to Ivory Coast where it is easier to do business.
He added, “Our aim is to reverse that, and so the key components are a coherent, practical, transparent, incentive regime that is based on performance and with very little discretion, so we will remove the corruption component.
Two, build these ecological paths so you meet the requirements of both domestic private investors and foreign investors with land where there are no title disputes,” he said.
