President John Mahama has unveiled Ghana’s ambitious 24-Hour Economy initiative, positioning it as the country’s core strategy to attract global investment, boost productivity, and create jobs. Speaking at the opening of the 8th Africa–Singapore Business Forum in Singapore, he declared that Ghana is open for business around the clock.
“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,” President Mahama told a packed audience of global investors, policymakers, and business leaders.
Volta Economic Corridor at the Core
At the heart of the 24-Hour Economy plan is the Volta Economic Corridor, Ghana’s most ambitious integrated development initiative to date. The corridor is built around four pillars:
- Grow24: Irrigating over two million hectares for year-round farming
- Make24: Developing agro-industrial parks for textiles, pharmaceuticals, and food processing
- Show24: Boosting tourism and hospitality along Lake Volta
- Connect24: Transforming Lake Volta into a low-cost, inland transport spine to link farms, factories, and markets
President Mahama said the strategy is backed by catalytic projects such as the Legon Pharmaceutical Innovation Park, the Kumasi Machinery and Technology Park, and the Akosombo-Juapong Garments and Textiles Park, along with new renewable energy corridors and digital training centres.
“We’re aligning infrastructure, incentives, and skills to allow factories, farms, ports, and service centres to run safely and competitively—24 hours a day,” he added.
Ghana: Gateway to Africa’s $3.4 Trillion Market
Mahama positioned Ghana as the most stable and reliable gateway to Africa’s growing consumer and investment market.
“As host of the African Continental Free Trade Area Secretariat, Ghana sits at the heart of a $3.4 trillion single market,” he said. “Through ECOWAS, we connect you to over 400 million consumers in West Africa. We offer political stability, a rules-based business environment, and a double taxation agreement with Singapore.”
Singaporean investment in Ghana is also growing. To date, 69 Singaporean companies have registered in Ghana, with cumulative investments exceeding US$2 billion.
Reforms to Restore Confidence
Acknowledging recent economic challenges, Mahama said Ghana is actively pursuing reforms to restore investor confidence.
“We know credibility is earned,” he said. “Inflation is easing, the cedi has stabilised, and ratings outlooks are improving. We are simplifying regulations through Business Regulatory Reforms and reviewing our Investment Promotion Act—including removing minimum capital thresholds for foreign investors.”
A Bigger Vision for Africa
Speaking not just as Ghana’s leader, but as African Union Champion on Financial Institutions, Mahama made a broader case for Africa as an emerging global investment hub.
“Africa is not just investable—it’s the world’s most dynamic emerging market,” he said. “With 1.4 billion people today—young, fast-urbanising and digitally connected—Africa’s cities will host over 700 million consumers by 2030.”
He acknowledged the continent’s annual $1.3 trillion financing gap, including $213 billion for climate adaptation and over $200 billion for infrastructure needs.
To address this, Mahama said Africa is working to build its own financial ecosystem—advancing the African Monetary Institute, linking stock markets via the African Exchanges Linkage Project, and scaling the Pan-African Payment and Settlement System for trade in local currencies.
A Call to Singapore and the World
Mahama urged Singapore and other global partners to engage Africa through meaningful collaboration, citing Singapore’s global leadership in finance, logistics, and project execution.
“Your excellence in project preparation, blended finance, risk management, and dispute resolution is exactly what African projects need to move from pipeline to bankable to build,” he said.
He invited investors to “test Ghana’s readiness” during the upcoming Presidential Business Roundtable in Singapore, which will feature direct access to regulators, bankable project showcases, and a one-stop investor concierge.
A Clear Investment Proposition
In his closing remarks, Mahama made a direct appeal to business leaders:
“Our proposition is simple: a stable, reform-minded country, connected to AfCFTA, designed for scale. A 24-Hour Economy that meets your demand for speed, reliability, and standards. A pipeline of investable projects in agribusiness, logistics, manufacturing, energy, digital and tourism. A partner that values integrity, predictability, and long-term relationships.”
He concluded:
“When Singaporean and African firms collaborate, we will create jobs for our youth, diversify global supply chains, and drive sustainable growth—for all.”
