24-Hour Economy: Secretariat secures US$5.5bn investment, targets 1.7 million jobs

The 24-Hour Economy and Accelerated Export Development Secretariat has secured Joint Development Agreements worth US$5.5 billion with investors, as part of efforts to expand production, boost exports, and create jobs.

The agreements, signed as of May 2026, form part of an US$11.5 billion project pipeline aimed at driving economic transformation.

Responding to concerns raised by Minority Spokesperson on Economy and Development Kojo Oppong Nkrumah, the Secretariat said the programme is expected to create 1.7 million decent jobs by the end of 2028, covering direct, indirect, and induced employment.

It added that four agreements signed within the last 90 days alone have combined targets of more than 160,000 direct jobs.

The Secretariat explained that the 24-Hour Economy programme is focused on boosting domestic production and increasing exports, not simply extending working hours.

It clarified that the GH¢650 billion figure cited by Oppong Nkrumah represents Parliament’s total appropriation for all government programmes over the past two years, not spending on the 24-Hour Economy initiative.

Most projects under the programme will be financed by private investors, while public funds will support project preparation, viability gap funding, and coordination.

“The right measure of programme success is the investment the programme mobilises and the production, exports, and jobs it generates,” the Secretariat stated.

The programme aims to reduce Ghana’s unemployment rate to below 5% by 2034, down from 14.7% recorded in September 2024.

Acknowledging that implementation may appear slow, the Secretariat said the phased approach is deliberate to ensure investors, businesses, and supporting systems are properly prepared.

Consultations with industry players, investors, and development partners have been completed, and the Secretariat is working with the Ministry of Finance to finalise a package that will be attractive to businesses and sustainable for public finances.

The government is expected to announce the package with clear conditions and timelines, with the public beginning to see impact through increased production, investment, exports, and job opportunities.

DR/SA