Accra: The Association of Ghana Industries (AGI) has called on the government to ensure a smooth transition for beneficiary companies of the One District, One Factory (1D1F) policy to the 24-hour economy policy. AGI President, Dr. Humphrey Ayim-Darke, emphasized the need for these companies to receive more beneficial incentives under the new policy to prevent disruption to business activities.
According to Ghana News Agency, Dr. Ayim-Darke expressed support for the government's 24-hour economy agenda, viewing it as a means to enhance productivity and position Ghana as a competitive hub in the regional value chain. He stressed that successful implementation requires more than just keeping businesses open around the clock; it demands resilience, efficiency, and global competitiveness. He highlighted the necessity of reliable energy supply, efficient transport and logistics, and supportive policy frameworks, along with incentives such as a tax exemption regime to encourage industry expansion.
Dr. Ayim-Darke addressed these concerns during the opening session of the Ghana Industrial Summit and Exhibition and Best Forum 2025 in Accra. The event, held from September 16 to 18, was organized in collaboration with the Ministry of Environment, Science and Technology, and other stakeholders under the theme "Unlocking Industrial Potential: Strategic Approaches for Ghana's Economic Transformation."
He further called for strategic integration and alignment among all government agencies to deliver the intended results of the 24-hour economy policy. On the recent appreciation of the cedi, Dr. Ayim-Darke noted its mixed impact, benefiting importers with reduced foreign exchange costs, while local manufacturers faced increased pressure from cheaper imported goods.
Dr. Ayim-Darke highlighted the challenges posed by parallel imports, which bypass regulatory checks and evade duties, creating an uneven playing field for domestic industries. He urged regulatory bodies to enforce mandates to address these market failures, pointing to disruptions faced by companies like Guinness and Coca-Cola due to smuggled imports.
Emphasizing industrialization as a national necessity, Dr. Ayim-Darke stated that no country has achieved prosperity without a strong industrial base. He identified Ghana's natural resources, human capital, and strategic location as factors that position it as a potential manufacturing hub in West Africa. However, he acknowledged the challenge in unlocking this potential to transform the economy, create jobs, and enhance competitiveness.
Dr. Ayim-Darke concluded by advocating for fair electricity tariff pricing and investments in energy infrastructure to ensure industry competitiveness and reliability. He urged the government to enforce strict import standards and incentivize local manufacturers to mitigate the risk of losing competitiveness and derailing the industrialization agenda.