24-Hour Economy Must Prioritize Value Addition to Drive Real Growth – Exporters Federation Prez

As national conversations around Ghana’s proposed 24-Hour Economy gather momentum, the President of the Federation of Ghanaian Exporters (FAGE), Davies Korboe, has issued a strong call for the policy to be anchored in value addition and industrial transformation.

Speaking in an interview, Mr. Korboe welcomed the concept as timely and potentially impactful but warned that its design and implementation must go beyond merely extending operational hours for shops and services.

“A 24-hour economy that simply keeps shops open longer won’t change much. We must use this opportunity to strengthen our capacity to add value to what we produce especially in agriculture and natural resources. That is how we’ll create real jobs and earn more from exports.” he cautioned.

While the 24-Hour Economy has been touted by government officials as a vehicle for economic revitalization and job creation, Mr. Korboe urged policymakers to steer the conversation away from superficial fixes and toward industrialization.

He argued that without a deliberate focus on value chains, local manufacturing, and export-oriented production, the initiative risks becoming a “populist idea with limited economic returns.”

“If we’re serious about competing globally, then we need to process our cocoa, our shea, our gold, our timber not just export them raw. That’s the game changer.” he stressed.

Call for Stakeholder Engagement

Mr. Korboe also called on government to involve exporters, manufacturers, and industry associations in shaping the policy framework, to ensure alignment with the private sector’s capabilities and challenges.

“Policymakers must listen to those of us on the ground people in the factories, on the farms, in the export corridors so that the 24-Hour Economy reflects the real dynamics of business in Ghana,” he said.

A Blueprint for Export-Driven Growth

Ghana’s economy remains heavily reliant on raw commodity exports, a model that experts say limits value capture and job creation. Mr. Korboe believes the 24-Hour Economy could help change this narrative but only if it is backed by long-term economic planning, infrastructure upgrades, and incentives for production-based enterprises to operate around the clock.

“If we do this right, the 24-Hour Economy could become a catalyst for agro-processing, light manufacturing, and logistics development, but it must be grounded in strategy, not slogans.” he noted.

As the debate over the 24-Hour Economy policy intensifies, voices like Mr. Korboe’s are amplifying the need for a more nuanced, growth-focused approach one that ties working hours to value creation, not just visibility.

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