The Presidential Advisor for 24-Hour Economy and Accelerated Export Development, Augustus Goosie Tanoh, has outlined crucial legislative reforms necessary to support Ghana’s transition to a 24-hour economy.
Speaking to parliamentarians during a post-budget workshop on Sunday, he emphasized the government’s commitment to removing legal barriers and driving economic transformation.
“We are going through the entire legislative framework to identify and eliminate obstacles while also strengthening laws that will drive the transformation we envision,” Tanoh stated.
He revealed that a team of legal experts, many working pro bono, has been engaged to review laws such as the Ghana Investment Promotion Centre (GIPC) Act, the Public Procurement Act (PPA), and local government bylaws. The amendments, he noted, will prioritize local content and ensure that Ghanaian businesses benefit from government procurement policies.
He revealed that a key initiative under this economic strategy is the Go Ghana Program, designed to promote locally made goods and services.
“We need to institutionalize this through amendments to the PPA Act, ensuring that local manufacturers and content producers receive guaranteed government support. This is how we grow our industries—learning from the Asian Tigers, who prioritized their local products and are now global economic powerhouses,” he explained.
Goosie Tanoh also announced plans to establish a National Employment Trust by merging the Ghana Enterprises Agency (GEA) and the National Entrepreneurship and Innovation Programme (NEIP).
“Today, 2.1 million Ghanaians are unemployed, while 8.2 million are in vulnerable jobs. We must rationalize employment creation efforts so that jobs are sustainable, meeting International Labour Organization (ILO) standards,” he stressed.
Revamping agricultural cooperatives is another priority, with the government looking to amend the Cooperative Societies Act to boost productivity.
According to him, successful cooperative models in Kenya and Tanzania have improved yields and farmer outcomes.
Further legislative reviews include the Free Zone Act, aimed at developing local value chains and special economic zones, as well as the Labour Act, particularly regarding minimum wage structures. “
This, he said, will ensure fair wages and improve the working conditions of Ghanaians, aligning with global best practices.
The government is also revising tax laws, including the GRA Act and IRS tax code, to make the tax regime more business-friendly while maintaining sustainable revenue.
“Some of our tax policies discourage investment and expansion. We are working to eliminate unfair tax burdens on production and value creation,” Tanoh assured.
On energy costs, he acknowledged the challenges faced by manufacturers and stressed the government’s push for renewable energy.
“We are advocating for incentives to support captive solar power plants that provide cheaper energy to industries,” he said.
Goosie Tanoh underscored the crucial role of Parliament in enacting the necessary legal reforms as Ghana moves towards implementing the 24-hour economy.
Parliament, he said, will play a key role in driving economic growth, job creation, and industrial transformation,” he concluded.