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24-hour economy initiative: 19-member presidential committee inaugurated

Tue, May 6 2025 12:02 PM
in Ghana General News
24 hour economy initiative 19 member presidential committee inaugurated
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A 19-member Presidential Committee on Accelerated Export Development (PCAED), a strategic initiative under the President’s 24-Hour Economy and Export Development Programme aimed at transforming Ghana into a globally competitive, export-driven economy has been inaugurated.

The committee, made up of industry leaders, trade professionals, and public sector representatives, is to spearhead efforts to diversify and grow Ghana’s non-traditional export base.

Members of the committee include President John Dramani Mahama; the Presidential Advisor for 24-Hour Economy and Accelerated Export Development, Augustus Goosie Tanoh; the Finance Minister, Dr Cassiel Ato Forson; Minister of Trade, Agribusiness and Industry, Elizabeth Agyare; the Minister of Fisheries and Aquaculture (MOFA), Emelia Arthur; the Minister of Food and Agriculture, Eric Opoku, the Attorney-General, Dr Dominic Ayine.

Other members are the acting Director-General of the Ghana Ports and Harbours Authority (GPHA), Brigadier General Paul Seidu Tanye-Kulono;, the acting Commissioner-General of the Ghana Revenue Authority (GRA), Anthony Kwasi Sarpong; Davies Narh Korboe, Dr. Eben Anuwa-Amarh, Dr Akushika Andoh, Kwesi Korboe, Sampson Asaki Awingobit, Federation of Association of Ghana Exporters representative, Association of Ghana Industries representative, Jacob Nyarko Mensah, Gabriel Opoku Asare and Prof John Gatsi. 

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Commitment

Speaking at the inaugural ceremony, the Presidential Advisor on the 24-Hour Economy and Accelerated Export Development, Augustus Obuadum Tanoh, reaffirmed the government’s commitment to structural transformation through strategic partnerships with the private sector, trade experts, and regulators.

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“This event marks the fulfilment of an important promise made by His Excellency President John Mahama: to work closely with industry leaders to remove the bottlenecks and disincentives that have long hindered the expansion of Ghana’s export sector,” he said.

Mr Tanoh outlined the three central pillars of the 24-hour economy and Accelerated Export Development policy—production transformation, market systems efficiency, and human capital development, which together are designed to drive sustainable growth, job creation, and economic resilience.

He acknowledged the existing challenges within Ghana’s export landscape, including complex regulatory requirements, logistical inefficiencies at ports, and inadequate access to international quality certification.

He however,emphasised that these barriers are not insurmountable and reaffirmed the country’s strong fundamentals, including its strategic coastal location, expanding infrastructure, political stability, and status as host of the AfCFTA Secretariat.

“The PCAED is not a symbolic body; it is a strategic engine,” he said.

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“Its purpose is to provide practical, evidence-based advice to the President to support Ghana’s transition from dependence on raw commodity exports to value-added, globally competitive exports.”

Mr Tanoh said currently, non-traditional exports generate only $3.5 billion annually,  describing it as inadequate for an economy of Ghana’s potential.

“Export transformation is not just about revenue—it is about dignity, job creation, and building national wealth. It is about positioning Ghana at the centre of regional and global trade,” he said.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

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