Ghana’s 24-Hour Economy Secretariat announced its strategy to create sustainable jobs through increased production, modernised agriculture, and enhanced manufacturing. This initiative directly addresses the employment needs of millions of Ghanaians, particularly the nation’s youth.
The strategy aims to transform Ghana’s economic organisation, generate wealth, and retain it within the country for reinvestment. Kyeretwie Opoku, Coordinator of the Secretariat, stated that sustainable employment will emerge from broad economic growth. He emphasised that jobs will primarily come from production, not solely from government programs.
This plan fits into Ghana’s broader economic narrative of seeking industrialisation and job creation to boost national prosperity. The country has long grappled with high youth unemployment and a desire to add value to its raw materials. Previous governments have also launched initiatives to stimulate local production and reduce reliance on imports.
Mr. Opoku highlighted the secretariat’s role in transforming the economy and supporting reinvestment for future generations. He stressed the importance of moving beyond service-based economies to actively produce goods. “Our task, as we understand it, is to plant production first, because the jobs will come from production,” he explained.
The Secretariat plans to reorganise and modernise agriculture, making it less labour-intensive and more appealing to young people. This modernisation includes improving the processing and distribution of agricultural products. Manufacturing is also critical, particularly for processing agricultural raw materials into finished and semi-finished goods.
This approach echoes Ghana’s post-independence industrialisation under the late President Kwame Nkrumah. That era saw coordinated planning and industrial policy support significant economic transformation. It included developing factories, agricultural estates, ports, and power infrastructure.
The 24-Hour Economy programme seeks to revive this national coherence and mobilisation around a development plan. This plan centres on agriculture, manufacturing, infrastructure, and investment. It aims to deliver specific social support alongside economic growth.
Decision-makers and markets will closely watch the implementation of this ambitious strategy. Success hinges on effective coordination, substantial investment, and sustained political will. The programme’s ability to attract private sector participation and foreign direct investment will be crucial. Its impact on job creation and economic diversification will be key indicators of its effectiveness.
Ghana’s economic stability and growth trajectory depend on such long-term structural reforms. The focus on production and value addition could reduce import dependency and strengthen the cedi. Investors will monitor progress in agricultural modernisation and manufacturing expansion. These sectors are vital for Ghana’s economic resilience and future prosperity.