AGI urges smooth transition of 1D1F firms into 24-hour economy policy

Accra, Sept. 17, GNA – The Association of Ghana Industries (AGI) has urged the government to ensure a seamless transition for beneficiary companies under the One District, One Factory (1D1F) initiative into the 24-hour economy policy.

Dr Humphrey Ayim-Darke, AGI President, said the Association expected that such companies would be migrated to more beneficial incentives under the new policy to prevent disruption to their operations.

He said the AGI welcomed the 24-hour economy agenda as a step towards enhancing productivity and positioning Ghana as a competitive hub within the regional value chain.

“We opine, however, that it goes beyond just keeping businesses open around the clock. It needs a deliberate promotion of resilience, efficiency and global competitiveness. For businesses, it means ensuring reliable energy supply, efficient transport and logistics, and supportive policy frameworks that make continuous production feasible. Incentives such as a tax exemption regime are a necessity to trigger expansion of operations,” Dr Ayim-Darke stated.

He was speaking at the opening of the Ghana Industrial Summit and Exhibition and Best Forum 2025 in Accra. The three-day event, being held from September 16 to 18, is in collaboration with the Ministry of Environment, Science and Technology through its biannual programme, with support from other partners. It is on the theme: “Unlocking Industrial Potential: Strategic Approaches for Ghana’s Economic Transformation.”

Dr Ayim-Darke also called for alignment among government agencies to ensure the success of the 24-hour economy, stressing the need for fair electricity tariffs, infrastructure investment, and policy interventions to secure competitiveness and job creation.

Touching on recent cedi appreciation, he noted that while importers had benefited from cheaper foreign exchange, local manufacturers were under pressure from parallel imports, particularly smuggled beverages from neighbouring countries.

“This development is creating an uneven playing field. These parallel imports bypass standard regulatory checks or evade duties, giving them an artificial cost advantage, while compliant local producers like Guinness and Coca-Cola are placed at a disadvantage,” he warned.

He urged regulators to clamp down on such practices, enforce strict import standards, and incentivise local manufacturing to protect jobs and advance Ghana’s industrialisation agenda.

“Industrialisation is not just an economic aspiration but a national necessity. No country has achieved prosperity without establishing a robust industrial base. For Ghana, the opportunity is clear—our natural resources, human capital, and strategic location position us to be a leading manufacturing hub in West Africa,” he added.