President John Mahama has announced plans to fundamentally reshape Ghana’s economic model, with a strong shift toward value addition, industrialisation and a 24-hour production economy as part of efforts to build a more resilient and inclusive nation.
Speaking at the opening ceremony of the 77th Annual New Year School and Conference at the University of Ghana, the President said a sustainable Ghana must be anchored on “a productive, diversified and resilient economy” capable of withstanding shocks while creating opportunities for all.
“Our development model must decisively move away from excessive dependence on raw material exports towards value addition, industrial production, and knowledge-based enterprise,” President Mahama said.
He disclosed that the government will roll out a policy this year requiring value addition to Ghana’s minerals, petroleum and agricultural products before export.
The President explained that the policy direction underpins his administration’s broader economic reset agenda, with the 24-hour economy and a renewed export development programme at its core.
According to him, the 24-hour economy is not merely a political slogan but a deliberate structural transformation strategy.
“This programme is not a slogan. It is a structural transformation strategy to extend productivity beyond daylight hours, deepen manufacturing, support logistics and agro-processing, and create millions of decent jobs across the value chain,” he stated.
President Mahama stressed that such ambitions can only be realised in a stable and investment-friendly environment, which he said informed the early reforms undertaken by his administration to stabilise the economy.
He pointed to what he described as measurable economic gains, including a stable currency, which he said had been touted as the world’s best-performing currency in 2025. He also cited a sharp decline in inflation and public debt levels as signs of recovery.
“Inflation has fallen from 23.8 per cent at the end of 2024 to just above five per cent by the end of 2025, while debt has reduced from above 66 per cent of GDP to about 45 per cent,” the President noted.
The Annual New Year School and Conference, organised by the University of Ghana, brings together policymakers, academics, civil society actors and development partners to reflect on national challenges and chart pathways for sustainable development.
This year’s edition focuses on Ghana’s economic transformation and long-term development priorities amid ongoing efforts to stabilise the economy and expand job opportunities.
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