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Ghana Investment and Trade Week opens with focus on 24-hour economy

From Ghanaian Times · () English

Summarized and contextualized by DistantNews.

At a glance

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  • Ghana opened its seventh Investment and Trade Week in Accra, aiming to attract green energy investments and promote industrialization.
  • The event features over 100 exhibitors from 30 countries, focusing on renewable energy, manufacturing, and trade opportunities.
  • The government plans to develop 1.5 gigawatts of solar-backed electricity and waste-to-energy projects to support a 24-hour economy, anticipating significant job creation.

Ghana's seventh Investment and Trade Week has opened in Accra, with a strong emphasis on attracting green energy investments and fostering industrial growth to support the government's 24-hour economy agenda. The three-day event brings together more than 100 exhibitors and business delegations from over 30 countries.

reliable, affordable and sustainable energy would be the foundation upon which Ghana’s industrial transformation would be built.

— Augustus Goosie TanohDelivering the keynote address at the Ghana Investment and Trade Week.

This platform is designed for investors, policymakers, and business leaders to explore opportunities in key sectors like renewable energy, manufacturing, construction, and trade. The event also includes the Africa Build Show and the Megawatt Africa International Energy and Power Generation Exhibition, highlighting innovative technologies and investment prospects across the continent.

Senior Presidential Advisor Augustus Goosie Tanoh stressed that reliable, affordable, and sustainable energy is crucial for Ghana's industrial transformation. The nation aims to increase domestic production and export value-added goods. To achieve this, the government is implementing major renewable energy projects, including up to 1.5 gigawatts of solar-backed electricity with battery storage. Investments in waste-to-energy projects, biogas plants, electric transport, and logistics infrastructure are also underway.

the country’s ambition was to build an economy that produced more of what it consumed while exporting value-added products instead of raw materials.

— Augustus Goosie TanohExplaining Ghana's economic goals at the trade event.

The initiative is projected to create approximately 890,000 jobs and contribute to over 1.7 million direct, indirect, and induced employment opportunities by 2028. The Minister of Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, encouraged both local and foreign investors to leverage Ghana's favorable investment climate and the incentives offered by the Ghana Free Zones Scheme, which provides tax exemptions and other benefits for export-oriented industries.

the programme was expected to generate about 890,000 jobs and contribute to approximately 1.7 million direct, indirect and induced employment opportunities by 2028.

— Augustus Goosie TanohHighlighting the projected employment impact of the 24-hour economy initiative.
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Originally published by Ghanaian Times. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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