Initiative to Translate 24-Hour Economy into Practical Economic Activity
The Chairman of the Ghana Cocoa Board (COCOBOD), Dr. Samuel Ofosu Ampofo, has commended the Cocoa Marketing Company (CMC) for launching its 24-hour operational model, describing the initiative as a major step towards translating President John Dramani Mahama’s 24-hour economy policy into practical economic activity.
He said the initiative is expected to boost productivity, improve efficiency, create jobs and maximise Ghana’s productive capacity by allowing critical economic activities to continue beyond traditional working hours.
Model Expected to Strengthen Cocoa Value Chain
Speaking at the launch, Dr. Ofosu Ampofo said the initiative is particularly important to Ghana’s cocoa sector, which supports the livelihoods of more than 800,000 cocoa-growing households across the country.
He explained that CMC occupies a critical position in the cocoa value chain by facilitating the movement and marketing of cocoa from warehouses to international markets. According to him, improving the efficiency of CMC’s operations will have a wider impact on farmers, processors, transporters and other players in the sector.
24-Hour Operations to Reduce Cocoa Export Delays
Dr. Ofosu Ampofo said operating around the clock will help reduce delays in cocoa handling, improve warehouse operations and enhance shipping and logistics processes.
He said reducing the time between the arrival of cocoa and its export to international markets will improve efficiency and strengthen Ghana’s competitiveness in the global cocoa industry.
Extended Operations to Create More Jobs
The COCOBOD Chairman said the benefits of the 24-hour model will extend beyond CMC and COCOBOD to businesses connected to the cocoa value chain.
He mentioned transporters, warehouse operators, clearing and forwarding companies, security providers, maintenance services, catering businesses and other ancillary service providers as some of the businesses that could expand their operations and create additional employment opportunities.
COCOBOD Chairman Encourages Youth to Take Advantage
Dr. Ofosu Ampofo further encouraged young people to take advantage of employment and business opportunities expected to emerge from the expansion of economic activities under the 24-hour economy.
He said productive employment will provide young people with income, valuable skills and experience, while enabling them to contribute meaningfully to national development.
Call for Stronger Collaboration Among Stakeholders
Dr. Ofosu Ampofo stressed the need for stronger collaboration among institutions within the cocoa and port value chain to ensure the success of the initiative.
He said government agencies and private-sector operators must coordinate effectively to ensure that cocoa and other Ghanaian products move quickly and efficiently from production centres to international markets.
24-Hour Economy Key to Ghana’s Competitiveness
The COCOBOD Chairman described the 24-hour economy as an important national policy capable of improving Ghana’s productivity and competitiveness.
He said keeping critical economic facilities operational for longer hours will create more room for businesses to expand, increase productivity and employ more people, helping Ghana compete with economies where ports and other key businesses operate continuously.
Story by Freedom Etsey Lavoe