24-Hour Economy Positioned to Revive Ghana’s Struggling 1D1F Initiative – Trade Minister-Designate Says
Minister-Designate for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, has identified President John Mahama’s proposed 24-hour economy as the key to addressing structural challenges facing the One District, One Factory (1D1F) initiative.
Speaking during her vetting before Parliament’s Appointment Committee, Ms Ofosu-Adjare highlighted that a persistent shortage of raw materials has hampered the 1D1F program, which was introduced in 2017 by former President Nana Akufo-Addo to transform Ghana into a manufacturing-led economy.
“The solution lies in the 24-hour economy policy,” she explained, emphasizing that agribusiness, underpinned by commercial contract farming, would guarantee consistent raw material supplies.
“These factories will sign onto the 24-hour economy and benefit from raw materials, tax holidays, and other incentives,” she added.
Mahama’s 24-hour economy policy envisions a system where businesses operate continuously, supported by enhanced logistics, agribusiness integration, and industrial synergies.
Ms Ofosu-Adjare argued that this framework would address inefficiencies in Ghana’s industrial landscape, particularly the resource bottlenecks that have constrained the 1D1F initiative.
Despite creating several manufacturing enterprises, the 1D1F program has faced significant operational challenges, raising concerns about its sustainability and impact. Ms Ofosu-Adjare underscored that Mahama’s strategy would not only mitigate these issues but also drive broader economic benefits, fostering value addition and export growth.
The proposal signals a renewed push to leverage policy innovation in addressing long-standing industrial challenges in Ghana, while also setting the stage for deeper structural reforms in the economy.
