By Melchizedek M. Fosu
24-Hour Economy Secretariat Signs US$5.5 Billion Deals to Create 1.7 Million Jobs | The 24-Hour Economy and Accelerated Export Development Secretariat has secured joint development agreements worth US$5.5 billion as it advances an US$11.5 billion investment pipeline aimed at transforming Ghana’s economy.
The Secretariat announced that the programme seeks to create 1.7 million decent jobs by the end of 2028, including direct, indirect and induced employment opportunities.
The announcement follows questions from Minority Spokesperson on Economy and Development, Kojo Oppong Nkrumah, about the achievements, funding and impact of the 24-Hour Economy initiative.
Responding to the concerns, the Secretariat said four agreements signed within the past 90 days will generate more than 160,000 direct jobs across different sectors.
The Secretariat highlighted the Buipe Solar and Battery Project as one of the major investments under the programme. The US$1.45 billion project will generate 1,500 megawatts of electricity and provide industrial power at a cost between 6.0 and 9.0 US cents per kilowatt-hour. The first phase will end in the third quarter of 2027, with the project expected to create about 13,000 jobs.
Another major project, the Kambonwule Oil Palm Complex, represents a US$250 million investment that will produce 228,000 tonnes of crude palm oil annually when it reaches full production. The project aims to create 120,000 jobs while supporting domestic consumption and exports.
The Secretariat also identified the Buipe and Damanko Bioenergy Programme as a key investment. The project will create 30,000 jobs, reduce foreign exchange pressures by about US$450 million annually and increase export earnings.
Meanwhile, the Secretariat continues preparations for the Tamale Air Cargo Hub. It has worked with the Ghana Airports Company Limited to secure land, while two operators have obtained concessions and plan to begin operations in 2027.
Through the Participatory Land Access Model, communities that provide land for these projects will receive annual rental payments and ownership shares.
The Secretariat further explained that the 24-Hour Economy Programme has expanded beyond major projects. Twelve oil marketing companies now operate 24-hour services across 268 filling stations under the downstream petroleum initiative launched with the National Petroleum Authority.
Additionally, the Driver and Vehicle Licensing Authority, Ghana Publishing Company and Ghana Ports and Harbours Authority have introduced round-the-clock services. Thirty-three manufacturers have also started multi-shift operations.
The Secretariat said private investors, including Ghanaian and foreign companies, will finance most projects, while government support will focus on project preparation, viability funding and coordination.
It added that the programme’s success will depend on the investments it attracts, the jobs it creates and the production and exports it generates. The long-term target remains reducing Ghana’s unemployment rate below five per cent by 2034.
24-Hour Economy Secretariat Signs US$5.5 Billion Deals to Create 1.7 Million Jobs | AviationGhana
