President John Mahama has announced Ghana’s 24-Hour Economy as the country’s bold new strategy to attract international investors, declaring that Ghana is fully open for business.
Speaking at the 8th Africa–Singapore Business Forum on August 26, he described the model as a transformative approach to drive productivity, exports, and job creation.
“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,” Mahama told an audience of business leaders, policymakers, and investors.
He explained that Ghana is restructuring its infrastructure, incentives, and skills to enable factories, farms, ports, and service centres to operate in continuous shifts safely and competitively. “At the core of this is the Volta Economic Corridor—our most ambitious integrated development to date,” he added.
The corridor, he said, rests on four strategic pillars. “Grow24: irrigating more than two million hectares for year-round farming. Make24: agro-industrial parks for textiles, pharmaceuticals, and food processing. Show24: tourism and hospitality along one of the world’s great inland lakes. Connect24: transforming Lake Volta into a cost-efficient inland transport spine, reducing logistics costs and linking farms, factories and markets.”
Mahama explained that catalytic projects such as the Legon Pharmaceutical Innovation Park, Kumasi Machinery and Technology Park, Akosombo-Juapong Garments and Textiles Park, Digital TVET Centres of Excellence, and renewable energy corridors will complement the 24-Hour Economy. “Our Big Push Infrastructure programme will accelerate roads, power and digital connectivity to crowd-in private capital and unlock scale,” he said.
The Ghanaian leader assured investors that Ghana offers political stability, a rules-based environment, and strong market access. “As host of the African Continental Free Trade Area Secretariat, Ghana sits at the heart of the US$3.4 trillion single market. Through ECOWAS, we connect you to more than 400 million consumers in West Africa. We offer political stability, a rules-based environment, a double taxation agreement with Singapore in force since 2019, and a growing base of Singaporean investors, 69 companies registered with cumulative investments exceeding US$2 billion.”
He highlighted Ghana’s deliberate reforms aimed at restoring investor confidence. “We know credibility is earned. We are pursuing a deliberate national reset: stabilising the macroeconomy, restoring confidence, and reforming how we do business. Inflation is easing, the cedi has stabilised, and ratings outlooks are improving. We are simplifying regulations through our Business Regulatory Reforms, and we are reviewing our Investment Promotion Act, including the removal of minimum capital thresholds for foreign investors, to make it easier and faster to partner.”
Turning to Africa as a whole, Mahama described the continent as the world’s most dynamic emerging market. “We are 1.4 billion people today—young, fast-urbanising, digitally connected—and by 2030, Africa’s cities will host more than 700 million consumers. The African Continental Free Trade Area is the largest new free trade area in the world by number of countries, and this has created a $3.4 trillion market and lowered barriers across supply chains.”
He stressed Africa’s competitive edge in sectors such as renewable energy and digital finance. “Africa holds vast renewable energy potential and is already a global leader in mobile money and fintech adoption. This is a market ready for scaled solutions. Yet this opportunity must be matched with capital at the right price and with the right instruments.”
As African Union Champion on Financial Institutions, Mahama also addressed the financing challenge. “Africa faces an annual financing gap estimated at $1.3 trillion. Infrastructure needs alone run between $181 and $221 billion per year through 2030, and the climate finance gap is about $213 billion annually. We are taking steps to build an African financial system that works for Africa; accelerate the African Monetary Institute as a precursor to the African Central Bank, and link ten major stock exchanges through the African Exchanges Linkage Project to enhance liquidity.”
He called on Singapore to partner with Africa, highlighting its expertise. “Singapore stands at the nexus of global finance, fintech, logistics, and green innovation. Your excellence in project preparation, blended finance, risk management, standards, and dispute resolution is precisely what African projects need to move from pipeline to bankable to build.”
Mahama concluded with an invitation to investors to explore Ghana’s readiness. “On day three of this State Visit, as part of the Africa Forum, we will host a Presidential Business Roundtable. Join us. Bring your teams. Put Ghana’s readiness to the test. We will showcase bankable projects, provide direct access to our regulators, outline incentives for strategic investors, and offer a one-stop investor concierge so decisions can be made quickly and confidently.”
He closed with a direct appeal: “Our proposition is straightforward: a stable, reform-minded country, connected to the AfCFTA, designed for scale; a 24-Hour Economy that matches your need 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. When Singaporean and African firms collaborate, we will create jobs for our youth, diversify global supply chains, and drive growth in sustainability.”
