The 24-Hour Economy Secretariat has disclosed that more than 412 companies nationwide have begun operating on a round-the-clock basis under the government’s flagship 24-hour economy initiative.

According to the Secretariat, about 80 per cent of the participating firms are running three shifts daily, while the remaining 20 per cent operate one or two shifts depending on their scale and capacity.

Speaking on The Big Agenda, Ishmael Nii Amanor Dodoo, Head of Innovative Finance, Partnership and Markets at the 24-Hour Economy and Accelerated Development Export Secretariat, said the participating firms comprise both Brownfield and Greenfield projects. He noted that the majority are manufacturing companies, although smaller enterprises, particularly SMEs, tend to operate fewer shifts.

Mr. Dodoo outlined plans to introduce an incentive voucher for off-peak electricity consumption, aimed at lowering operational costs for businesses enrolled in the programme. He explained that assessments of off-peak power usage indicate variations across different locations, influenced largely by population density and demand patterns.

“The policy is structured to generate thousands of jobs while reducing import volumes. Investors are also financing Captive Energy systems for participating firms to supply electricity at between five and seven cents per kilowatt-hour, with the national grid providing backup support in case of disruptions,” he stated.

He further indicated that additional incentive packages are being developed to strengthen support for participating companies. The Secretariat projects that by the end of 2028, thousands more businesses will transition to 24-hour operations, boosting economic activity and expanding employment opportunities across the country.