Accra: President John Dramani Mahama has reaffirmed his commitment to creating an enabling environment for private sector-led growth under Ghana's 24-hour economy agenda. He announced that the Ghana Customs Authority has been directed to implement 24-hour operations at the country's ports to reduce transaction costs and ease business operations.
According to Ghana News Agency, this announcement was made in a speech delivered by Mr. Haruna Iddrisu, Minister of Education, during the 45th Management Day Celebration of the University of Ghana Business School (UGBS) in Accra. The event, themed 'Marketing Innovation and Entrepreneurship as Catalysts for Success in a 24-Hour Economy', brought together academics, policymakers, industry leaders, and students to discuss transformative ideas in business and economic development.
President Mahama officially launched the 24-Hour Economy and Accelerated Export Development Programme on 2 July 2025. The initiative, estimated at $4 billion, includes a government commitment of $300 to $400 million in seed funding to attract further private investment. It aims to increase productivity, generate employment, and reduce dependence on imports.
He stated, 'We should not narrow ourselves to the conventional working hours of 0800 hours and 1700 hours. Productivity, necessarily, should not slow down merely because there is a sunset; after sunset, we still can make meaningful contributions to spur the growth of our socio-economic development.' He emphasized the initiative's potential for success, acknowledging the significant investment required.
The President highlighted the initiative's goal to develop an entrepreneurial mindset focused on product development and improved customer engagement. He underscored the importance of marketing innovation through digital platforms, artificial intelligence, social commerce, and immersive brand experiences.
President Mahama noted that achieving a successful 24-hour economy would require quality human capital, highlighting the role of educational institutions and the private sector in this process. He stressed that real success hinges on increased productivity across all sectors.
Mr. Iddrisu commended the University of Ghana for its leadership in digital transformation, which has enhanced teaching and learning. He also announced plans to pass the Scholarship Authority Bill to promote equity in educational opportunities and highlighted fulfilled presidential commitments, including the transfer of the University of Ghana Medical School to the University's management.
He added, 'We are looking forward to the three-month period given to the transition team to submit this report,' and mentioned the President's pledge to establish a National Research Fund with a $50 million commitment.
Professor Nana Aba Appiah Amfo, Vice-Chancellor of the University of Ghana, praised the leadership of UGBS for its achievements and reiterated the institution's commitment to leveraging technology to enhance education.