The Association of Ghana Industries (AGI) has stressed that the success of the government’s 24-hour economy policy will depend largely on building a strong local manufacturing base and protecting domestic producers from unfair competition.

At the close of its 2026 National Council Retreat in Accra, industry leaders expressed full support for the policy but urged government to adopt deliberate measures that promote value addition, deepen local supply chains and guard against trade practices that threaten jobs and investment.

AGI President Kofi Nsiah-Poku said industry and agriculture must form the backbone of the 24-hour economy, cautioning that without a vibrant manufacturing sector the initiative will not generate sustainable employment.

“Industry is the engine that will drive the 24-hour economy. Without strong industries, the policy cannot succeed,” he stated in a communiqué, noting that a service-driven economy alone cannot sustain round-the-clock activity without a solid production base.

Value addition key to export growth


AGI called for accelerated export diversification and a decisive shift away from exporting raw materials. It observed that Ghana remains heavily reliant on gold, crude oil and cocoa, which together account for about 80 percent of export earnings — a situation that leaves the country vulnerable to global price shocks.

The association argued that increasing value addition in commodities such as cocoa, cashew, coconut and rubber could significantly boost export revenues while creating jobs locally. For example, it noted that processed cashew can yield up to four times the value of raw exports.

Rather than exporting raw cocoa beans and importing finished chocolate and cosmetics, AGI advocated full-scale local processing into cocoa powder, butter and finished products. It also highlighted the vast potential in coconut processing, where by-products such as water, oil, shell and fibre can all be turned into commercial goods.

Retaining these value chains locally, AGI said, would improve foreign exchange earnings, support the cedi and expand employment opportunities, particularly for the youth.

Concerns over unfair trade practices


The association raised alarm over smuggling, under-invoicing and the influx of substandard imports, warning that such practices threaten the survival of local factories and undermine the 24-hour economy framework.

It urged the Ghana Revenue Authority and other regulatory bodies to strengthen border surveillance and clamp down on illegal entry points to prevent Ghana from becoming a dumping ground for cheap and inferior goods — especially products that can be produced locally.

AGI noted that while the recent appreciation of the cedi has lowered import costs, it could also encourage unscrupulous importers to flood the market with low-priced goods that weaken domestic producers.

Speaking after the retreat, AGI Chief Executive Officer Seth Twum-Akwaboah stressed that curbing smuggling and under-invoicing is critical to protecting genuine investors and safeguarding jobs. He described strict border enforcement as “non-negotiable.”

Creating an enabling environment


Although AGI welcomed the passage of the 24-Hour Economy Authority Bill, recent tax reforms and the operationalisation of the Independent Tax Appeals Board, it emphasised that legislation alone will not guarantee success.

The association called for urgent attention to high electricity tariffs, the cost of credit, infrastructure gaps and limited access to long-term development financing. It singled out institutions such as the Development Bank Ghana as crucial to providing medium- to long-term funding for industrial expansion.

“If industries are to operate continuously, they must have reliable demand, stable value chains and access to long-term financing,” Mr Twum-Akwaboah said.

He further stressed the importance of building resilient local value chains, cautioning that heavy reliance on imported raw materials exposes industries to exchange rate volatility and external shocks. According to him, commercial banks alone cannot provide the scale of financing required for heavy machinery and large-scale industrial investment.

AGI also highlighted the need to strengthen agricultural value chains to ensure consistent raw material supply for manufacturers. Without stable inputs, it said, industries cannot operate competitively or sustain 24-hour production cycles.

Industry ready to collaborate


The association pledged its readiness to partner with government, noting that it has already engaged in policy discussions and prepared its members in areas such as capacity development, financing and operational readiness for continuous production.

AGI maintained that the success of the 24-hour economy will require coordinated action across industry, agriculture, finance, transport and security services — anchored firmly on a competitive manufacturing sector.

“We will continue supporting government to build a strong economy for exports, jobs and shared prosperity,” the association stated in its communiqué.