24-Hour Economy Key to Overcoming 1D1F Raw Material Challenges – Ofosu-Adjare
Ofosu-Adjare Proposes 24-Hour Economy to Overcome 1D1F Challenges
- Elizabeth Ofosu-Adjare, has highlighted the 24-hour economy as a key strategy
- Ms. Ofosu-Adjare acknowledged that raw material shortages have been a longstanding challenge
- She emphasized that the 24-hour economy will significantly improve productivity and efficiency
Minister-Designate for Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, has highlighted the 24-hour economy as a key strategy to address the persistent raw material shortages impacting the One District, One Factory (1D1F) initiative.
During her vetting by Parliament’s Appointments Committee, Ms. Ofosu-Adjare acknowledged that raw material shortages have been a longstanding challenge for Ghanaian industries, hindering their growth and limiting their ability to meet both domestic and international demand.
She emphasized that the 24-hour economy, by encouraging businesses to operate around the clock, will significantly improve productivity and efficiency, thereby addressing the raw material supply chain issues faced by 1D1F factories.
“The challenges of the 1D1F did not start today and it has been there for long and that is why our industries have not grown to the levels that we want,” Ms. Ofosu-Adjare stated. “But there are always solutions to every problem. I see the solutions in the 24-hour economy. In the 24-hour economy, businesses are going to receive incentives and we are going to do commercial contract farming which will solve the raw materials problem.”
The 1D1F initiative, launched in 2017, aims to accelerate Ghana’s industrialization by establishing factories in each district. However, the lack of consistent raw material supply has been a significant obstacle to its success.
Ms. Ofosu-Adjare’s vision for a 24-hour economy offers a promising approach to overcome these challenges and unlock the full potential of the 1D1F initiative.
