President John Dramani Mahama has officially launched Ghana’s 24-Hour Economy strategy, positioning the country as a global hub for productivity, exports, and job creation.
Speaking at the 8th Africa–Singapore Business Forum in Singapore on August 26, 2025, he declared that Ghana is “open for business 24 hours a day.”
“Our economic strategy is anchored in productivity, exports and jobs. We call it the 24-Hour Economy—for a reason. Ghana is OPEN FOR BUSINESS 24 hours a day,” Mahama told business leaders, policymakers, and investors.
The Volta Economic Corridor at the Core
At the centre of the strategy is the Volta Economic Corridor, described by the President as Ghana’s most ambitious integrated development project to date. It rests on four pillars:
- Grow24: Irrigating over 2 million hectares to support year-round farming.
- Make24: Establishing agro-industrial parks for textiles, pharmaceuticals, and food processing.
- Show24: Expanding tourism and hospitality around Lake Volta, one of the world’s largest inland lakes.
- Connect24: Transforming Lake Volta into a cost-efficient inland transport spine, linking farms, factories, and markets while reducing logistics costs.
Mahama said the 24-Hour Economy is supported by catalytic projects such as the Legon Pharmaceutical Innovation Park, Kumasi Machinery and Technology Park, Akosombo-Juapong Garments and Textiles Park, Digital TVET Centres of Excellence, and renewable energy corridors.
Ghana as Africa’s Gateway to a $3.4 Trillion Market
Positioning Ghana as a magnet for global investment, President Mahama stressed the country’s stability, market access, and investor-friendly reforms.
He highlighted Ghana’s advantages:
- Host of the African Continental Free Trade Area (AfCFTA) Secretariat, giving investors access to a $3.4 trillion single market.
- Connectivity to over 400 million consumers in West Africa through ECOWAS.
- A double taxation agreement with Singapore in force since 2019.
- More than 69 Singaporean companies already operating in Ghana with cumulative investments exceeding US$2 billion.
Mahama added that Ghana is pursuing a national reset to restore macroeconomic stability, ease regulations, and rebuild investor confidence. Reforms include:
- Inflation easing and cedi stabilization.
- Improved credit ratings outlooks.
- Business Regulatory Reforms to simplify processes.
- A review of the Investment Promotion Act, including plans to remove minimum capital thresholds for foreign investors.
Africa as the World’s Next Growth Market
Turning to the wider African continent, Mahama emphasized that Africa is investable and already leading in renewable energy potential, mobile money, and fintech adoption.
By 2030, Africa’s urban population will reach 700 million consumers, with the AfCFTA creating the largest new free trade area in the world. However, he cautioned that Africa needs capital at the right price to unlock these opportunities.
As the AU Champion on Financial Institutions, he highlighted efforts to strengthen Africa’s financial architecture, including the African Monetary Institute (precursor to the African Central Bank), the African Exchanges Linkage Project, and the Pan-African Payment and Settlement System (PAPSS).
Call for Partnerships and Investor Confidence
Mahama invited investors to join Ghana’s Presidential Business Roundtable during the State Visit, where bankable projects and one-stop investor services will be presented to speed up decision-making.
“Our proposition is straightforward: a stable, reform-minded country, connected to the AfCFTA, designed for scale; a 24-Hour Economy that matches your need for speed, reliability and standards; a pipeline of investable projects in agribusiness, logistics, manufacturing, energy, digital and tourism.”
He concluded with a call for Singapore–Africa collaboration, saying it would create jobs, diversify global supply chains, and drive sustainable growth.
