Ishmael Dodoo outlines vision for private-sector-led transformation under 24-hour economy
Speaking on the Asaase Breakfast Show on Thursday (3 July), Dr Dodoo emphasised that Ghana continues to export raw materials and import finished goods at great cost to jobs, forests, cities, and national productivity
Dr Ishmael Nii Dodoo, Head of Innovative Finance, Markets and Partnerships at the 24-Hour Economy Secretariat, says Ghana’s new economic agenda stems from a deep recognition that the country’s colonial-era economic model remains largely unchanged and unsustainable.
Speaking on the Asaase Breakfast Show on Thursday (3 July), Dr Dodoo emphasised that Ghana continues to export raw materials and import finished goods at great cost to jobs, forests, cities, and national productivity.
“We import more than 80% of everything we consume, and that’s worrying,” he said. “That imbalance is what inspired the need for a new, self-reliant, job-creating economy that taps into opportunities from the African Continental Free Trade Area (AfCFTA) and the West African regional market.”
According to Dr Dodoo, the 24-Hour Economy agenda is not just a slogan but a fully structured program with specific incentives to attract the private sector. These incentives—currently being compiled into a package for parliamentary approval—are designed to create predictability, lower production costs, and offer tax and tariff rebates.
“We’re working on incentives that include tax breaks, guaranteed markets, and predictable energy supply. For example, there are tax rebates for companies running multiple production shifts. We’re also ensuring Made-in-Ghana products are prioritised in government procurement,” he added.
He revealed that energy reliability will be addressed through concessional agreements with private energy players, including investments in renewables to lower electricity costs for manufacturers.
Dr. Dodoo said the policy is being developed in consultation with prospective beneficiaries such as producers, aggregators, exporters, and development agencies to ensure practical solutions tailored to the needs of local businesses.
Fixing Agriculture and Logistics: GROW24 and Volta Corridor Plans
Touching on agriculture, Dr. Dodoo highlighted how GROW24 is tackling persistent problems like post-harvest losses, poor logistics, and low value addition.
“The plan includes rapid construction of warehouses, silos, cold chain systems, and feeder roads,” he said. “We’re also using the Volta Lake Transport Corridor to connect farmers more efficiently to markets.”
He noted that the rollout is sequenced to achieve early wins such as refurbished silos and industrial park development while medium-term infrastructure like lake ports and eco-industrial zones are phased in.
SHOW24 to Build on Year of Return Legacy
Dr. Dodoo also explained that the SHOW24 tourism and creative industry initiative will consolidate gains from successful campaigns like the Year of Return. However, unlike past one-off events, SHOW24 is designed to turn cultural pride into long-term economic engagement with the diaspora.
“Diasporans are not just tourists. They are investors, innovators, and connectors. We’ve met with groups from the Year of Return, Black Star Experience, and Pan-African networks to build a more authentic, Ghanaian-centred platform for diaspora investment and engagement,” he said.
24-Hour Economy Will Outlast Any Government
Addressing concerns that the program could collapse under a future administration, Dr Dodoo assured Ghanaians that the initiative is anchored in law and backed by Parliament.
“It is a living document, designed to adapt to changing geopolitical and economic realities. The Secretariat reports to the Presidency and will be driven by a disciplined, ethical, and agile workforce,” he explained.
He also stressed that the Authority’s implementation will be data-driven and supported by local research institutions like CSIR, ensuring policy execution is based on evidence and best practices.
Parallel Implementation Already Underway
Implementation is already in motion, according to Dr Dodoo. Work has begun simultaneously on several streams, including the Volta Lake Economic Corridor, eco-industrial parks, and regional ecological zones.
“We’re building strong partnerships with the private sector, research bodies, and infrastructure agencies to ensure a full-scale rollout by the end of the year. This is not a one-off. It’s a national awakening,” he concluded.
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