Mr. Augustus “Goosie” Tanoh, Presidential Advisor on the 24-Hour Economy and Accelerated Export Development Programmes, has called on Ghanaian exporters to proactively meet international standards to better position themselves in global markets.
Speaking at the UK-Ghana Chamber of Commerce’s (UKGCC) Forum held at CalBank PLC’s Head Office in Accra, Mr. Tanoh emphasized that Ghana must capitalize on current shifts in global trade by becoming export-competitive.
“The international market is tightening. There’s a net benefit for Ghana, but how long that window stays open is uncertain,” he said.
Tanoh expressed concern over the sustainability of trade agreements such as the African Growth and Opportunity Act (AGOA), which grants sub-Saharan African countries preferential access to U.S. markets. With the agreement set to expire in 2026, and shifting partnerships between the European Union, the United Kingdom, and trading blocs like MERCOSUR, Tanoh warned that Ghana must be prepared for a changing trade landscape.
Export Readiness Through the 24-Hour Economy
To navigate these uncertainties, Tanoh said Ghanaian exporters must focus on becoming not just volume-ready, but quality-ready—capable of meeting stringent international standards at competitive prices. He noted that the 24-Hour Economy policy embeds technology adaptation into value chains to drive precision and improve output.
“If we want to be export competitive, then we must be price competitive,” he stated. “The 24-Hour Economy’s focus on technology and quality assurance is our best chance to penetrate global markets despite rising trade barriers.”
He also urged exporters to concentrate on products where Ghana holds a natural competitive advantage, stating, “Those are the things we need to pursue, perfect, and incentivise.”
JET Programme and UK-Ghana Collaboration
The forum was prompted by findings in the UKGCC’s 2024 Business Environment & Competitiveness Survey Report, supported by the UK government’s Jobs and Economic Transformation (JET) Programme and the Palladium Group.
Eugene Sangmortey, Team Leader of the Ghana JET Programme, highlighted the UK’s commitment to supporting Ghana’s private sector transformation. “Our mission is to support economic transformation and create quality jobs in five strategic sectors: textiles and garments, agro-processing, pharmaceuticals, automotive, and light manufacturing,” he said. The JET Programme aims to attract £120 million in investments and create at least 7,000 jobs.
The Vision Behind the 24-Hour Economy
According to the 24-Hour Economy Secretariat, the policy aims to transform Ghana’s economy by enhancing productivity, building integrated value chains, reducing import dependency, and maximizing digital and human resources.
Abdul-Nasser Alidu, Head of Strategy at the Secretariat, described it as a national productivity initiative: “Think of it as making sure there is no idle capacity—fully utilizing all 24 hours in a day.”
The Secretariat has outlined seven sub-programmes to be implemented in collaboration with the private sector, including value chain financing programmes aimed at addressing high costs and stringent collateral requirements that limit business access to credit.
“We want to build financing solutions that remove structural barriers,” Alidu explained.
Private Sector at the Centre of the Policy
Tanoh reiterated that transparency and trust are key to the 24-Hour Economy’s success. “This is a private sector-led programme. The protocols guiding it will be designed together with private players and lending institutions.”
He emphasized that Ghana’s economic transformation relies on a vibrant private sector that can generate wealth, create jobs, and offer hope to the unemployed and underemployed.
Partnership with the UK and the Way Forward
Mr. Tanoh also encouraged the United Kingdom to consider Ghana and West Africa as viable markets for investment. “There is historic opportunity to grow trade and invest in Ghana’s capacity—not just in technology, but in basic and consumer goods,” he noted.
Steven Gray, OBE, the UK Export Finance West Africa Regional Representative and a member of the UKGCC Advisory Board, confirmed the UK’s continued commitment to its historic partnership with Ghana. He revealed that the UK is currently reviewing its Africa policy to shift from a donor-recipient model to a partnership-based approach.
“This is an exciting opportunity for a reset in how we work with African countries,” Gray said, inviting feedback through the British High Commission in Accra.
Broader Stakeholder Discussions
The Forum also explored the operational principles of the 24-Hour Economy, legislative reforms, the role of foreign investors, and the involvement of key institutions such as the Ghana Standards Authority and the Ghana Export Promotion Authority.
During the interactive session, Mr. Tanoh responded to questions from UKGCC member businesses on reducing manufacturing inflation and expanding exports to West African markets. Attendees called for benchmarks to track progress and accountability, and encouraged collaboration with local institutions to foster homegrown equity funds capable of supporting Ghana’s economic ambitions.
