EU backs 24-hour economy touts agribusiness as catalyst for growth

By Kingsley Webora TANKEH & Solange BANSON

The European Union (EU) has thrown its weight behind the 24-hour economy, positioning the agribusiness sector as pivotal for industrial transformation in Ghana. The Chargé d’affaires-EU Delegation to Ghana, Jonas Claes, indicated that by harnessing the 24-hour economy model, this sector can move from exporting raw materials to becoming a powerhouse of processed, value-added goods with unfettered access to the vast EU market.

This was announced during a high-level session sponsored by the EU Commission at the Ghana Industrial Summit and Exhibition (GISE) 2025 in Accra. The session, titled ‘Promoting Industrial Development of the Ghanaian Agribusiness Sector under the 24-hour Economy Strategy’, served as a strategic platform for government officials, industry leaders and financiers to deliberate and fine-tune the policy for broader impact.

Mr. Claes, expressed EU commitment to supporting Ghana’s economic development, stressing that unlocking the agribusiness sector’s potential is critical for sustainable growth and job creation. “We aim to facilitate a dialogue on how Ghana’s flagship strategies can be leveraged to boost productivity, improve value addition and strengthen its position in the global market,” he stated.

The dialogue centred on practical integration of three key policies: the 24-hour Economy, the agricultural-focused ‘Grow24’ strategy and the ‘Feed Ghana Programme’. Deputy Lead at the 24-hour Economy Secretariat, Dr. Georgina Pegu, set the tone for discussions with a detailed presentation on ‘Grow24’ – outlining how round-the-clock operations can revolutionise everything from farming and processing to logistics and export.

Representatives from the Ministry of Food and Agriculture, Ministry of Trade, Agribusiness and Industry (MOTAI) and Ghana Agribusiness Chamber debated how to break down silos and create a seamless policy environment for businesses.

Dr. Pegu referenced the complexities of land tenancy in Ghana, one of the major obstacles that stand in the way of commercial and mechanised farming in Ghana, revealing that government will establish a trust to handle all land tenancy agreements under the Grow24 programme.

The EU further emphasised opportunities for Ghanaian businesses to access the vast and stable EU market through the EU-Ghana Economic Partnership Agreement (EPA), stressing that there is a need for increased productivity and high-value addition to meet EU standards and capitalise on this trade advantage.

Given strategic partnerships with financial institutions like Absa Bank and advisory firms like Deloitte, the EU Delegation to Ghana aims to support the country in its quest to grow export by encouraging value addition and developing the agribusiness sector to be an engine for economic transformation.

The Ghana Industrial Summit and Exhibition (GISE) was organised by the Association of Ghanaian Industries (AGI). The three-day event brought together policymakers, industry leaders and entrepreneurs to discuss challenges, showcase innovations and identify opportunities for Ghana’s industrial transformation.

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