Goosie Tanoh pictured with stakeholders after the dialogue session
Presidential Advisor on the 24-Hour Economy, Augustus Obuadum Tanoh, has underscored the transformative vision of the government’s flagship policy, describing it as a bold pathway to industrialisation, SME expansion, and round-the-clock productivity.
Speaking at a strategic dialogue session convened by Absa Bank Ghana in partnership with the 24-Hour Economy Secretariat, Tanoh clarified that the initiative is not merely about longer working hours but about reshaping Ghana’s economic fundamentals.
“The 24-hour economy is not simply about longer hours; it is about unleashing round-the-clock productivity by connecting farmers, entrepreneurs, financiers, and consumers, while ensuring SMEs have access to affordable credit, strong governance, and sustainable growth opportunities,” he explained.
He called for stronger collaboration, infrastructure investment, and skills development, stressing that SMEs would be central to unlocking Ghana’s industrial transformation.
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Adding the perspective of the private sector, the President of the Ghana National Chamber of Commerce and Industry (GNCCI), Clement Osei-Amoako, echoed the need for joint responsibility across the economic value chain.
“The 24-hour economy will only succeed if manufacturers expand production, consumers drive demand, and financiers provide competitive lending rates. That is how we can turn policy into tangible growth,” he emphasised.
The session also featured a panel discussion led by sector experts from the 24-Hour Economy Secretariat, who highlighted strategic benefits such as lower business costs through shared infrastructure, enhanced productivity, and increased job creation across industries.
For many attendees and business owners, the event served as a unique opportunity to engage directly with policymakers, seek clarity, and explore actionable strategies to align their operations with the 24-Hour Economy vision.
Closing the dialogue, the Managing Director of Absa Bank Ghana, Dr Edward Nartey Botchway, reaffirmed Absa’s commitment to partnering with businesses and supporting national development.
He cited Absa’s GH¢1.8 billion investment in SMEs since 2024 as proof of the bank’s belief in entrepreneurship as a driver of inclusive growth.
“At Absa Bank, we are committed to driving sustainable growth by partnering with businesses to navigate change, unlock opportunities and thrive. We recognise that our success is linked to the prosperity of our clients and the broader economy. That is why we actively support transformative initiatives like the 24-hour economy, working alongside businesses to help them realise their ambitions,” he said.
SP/MA
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