The Association of Ghana Industries (AGI) has appealed for government incentives to support the effective implementation of the 24-hour economy policy, stressing that such interventions are crucial to accelerating growth in the industrial sector.
This call comes on the back of Ghana’s economy expanding by 6.3 percent in the second quarter of 2025, a performance largely driven by the services sector. The industry sector, however, slowed sharply, recording just 2.3 percent growth.
Speaking to Joy Business, the Greater Accra Regional Chairman of AGI, Mr. Tsonam Akpeloo explained that the disparity highlights the urgent need for deliberate government policies to strengthen industry.
He noted that targeted incentives will enhance industrial output, raise competitiveness, and increase the sector’s contribution to the country’s GDP.
“The services sector is doing very well, but industry is lagging. We believe that with the right incentives under the 24-hour economy initiative, industries can expand, create jobs, and make a stronger impact on the overall economy,” Mr. Akpeloo said.
He further emphasized that without government support such as tax reliefs, affordable financing, and infrastructure development the 24-hour economy policy will not yield its full p otential for industry players.
Meanwhile, economic analysts have suggested that the Bank of Ghana may cut its policy rate for a second consecutive time at the September 2025 Monetary Policy Committee (MPC) meeting, possibly from 25 percent to 22 percent, in an effort to ease borrowing costs for businesses.
The AGI maintains that such monetary easing, coupled with specific government incentives, could provide the needed relief for industries to recover and expand under the 24-hour economy framework.
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