Goosie Tanoh, Presidential Advisor on the 24-Hour Economy, has asked Ghanaians in the United Kingdom to invest back home. This investment aims to boost Ghana's 24-Hour Economy policy and its related projects. This initiative seeks to fund export-driven value chains and transfer technical skills.
Mr. Tanoh's call came during a town hall meeting in London, organised by the Ghana High Commission. This event was part of President John Dramani Mahama's five-day visit to the UK. The goal was to update diaspora Ghanaians on the nation’s economic recovery and encourage investment. The 24-Hour Economy policy seeks to shift Ghana's economic structure towards industrial growth and job creation.
Ghana's economy has frequently relied on International Monetary Fund (IMF) programmes, with 17 programmes since 1966. Mr. Tanoh noted that these programmes often fix national finances temporarily without changing underlying economic structures. The current administration's strategy focuses on disciplined macroeconomic management alongside industrial transformation. This dual approach aims to build a more resilient and sustainable economy.
Mr. Tanoh highlighted significant economic improvements. Inflation has fallen to 3.4%, the lowest in over four years, marking 15 months of consistent decline. The Bank of Ghana policy rate has been cut from 28% to 14%. The Ghana cedi has remained stable between GHS 10 and GHS 12 to the dollar, backed by the Bank of Ghana. Ghana also holds nearly 38 tons of gold on its balance sheet, providing additional security.
The nation's public debt has decreased from a peak of 92.4% of GDP to 48%, now below 50%. This makes the debt levels more sustainable. Ghana's economy grew by 7.7% in the first quarter of 2026, following a 6% growth in 2025. Services contributed almost 60% of this growth, and agriculture accounted for 25%. Industry, including factories and construction, contributed only 12% and grew by 2.3%.
The 24-Hour Economy strategy has two main parts. The first part is export-led, focusing on building productive capacity in areas where Ghana has natural advantages. Mr. Tanoh mentioned processing activities along the Volta Economic Corridor, covering 75 districts. These activities include garments, pharmaceuticals, and light industries, supported by affordable energy.
Mr Tanoh announced four major agreements signed in the past 90 days, projected to create over 160,000 jobs. These include the Buipe Solar Farm, the Kambonwule Oil Palm Anchor Project, a Bioenergy/Biofuels Programme, and the Tamale Air Cargo Hub. The Kambonwule Oil Palm Anchor Project is a GHS 300 million agricultural initiative. It aims to boost sustainable palm production and reduce Ghana’s vegetable oil imports. The Tamale Air Cargo Hub, set to begin operations in 2027, will transform northern Ghana into an export and logistics hub.
This push for industrialisation and job creation is a core component of President Mahama’s economic vision. The government is committed to maintaining fiscal discipline and leveraging diaspora support. These steps are crucial for achieving long-term economic stability and growth. The focus now is on how these investments translate into tangible improvements for Ghanaians. The ongoing monitoring of these projects will provide critical insights into their effectiveness and economic impact.