As Ghana pushes to translate its 24-hour economy vision into reality, concerns are emerging about whether the policy can survive shifts in fiscal discipline and political priorities.
At the centre of the debate, Joe Jackson, Chief Executive Officer of Dalex Finance, warned that structural weaknesses and governance gaps could undermine the initiative if macroeconomic discipline is not sustained beyond election cycles.
Speaking at the Business School Week of Wisconsin International University College, Mr. Jackson said Ghana’s expected exit from the IMF programme this year introduces fresh uncertainty for the financial sector, cautioning that the fiscal and monetary restraint that helped lower interest rates and stabilise the cedi could easily unravel without continued policy alignment.
Jackson stressed that the issue is not ambition but alignment, particularly in ensuring continuity of policies across successive governments. He cited port expansion projects and private capital inflows as examples of initiatives that, despite robust plans, continue to face delays due to weak execution and systemic inefficiencies.
On logistics, Jackson revealed that Ghana spends “60 times more” than the global average on transportation, noting that studies show that over 60 percent of the cost of local products, including beverages, stems from logistics inefficiencies. He warned that without improvements in infrastructure and connectivity, agricultural produce and industrial outputs risk stagnation before reaching the market.
Finance and capital allocation remain equally pressing concerns. Jackson emphasized the need to unlock local resources, pointing out that pension funds, totaling over GH₵60 billion, remain largely inaccessible to private investment due to regulatory restrictions. He argued that facilitating private sector access to these funds is key to funding the 24-hour economy.
Governance and institutional efficiency were also highlighted as pivotal factors. Jackson criticized over-centralization and political influence in public institutions, arguing that continuity and insulation from partisan politics are essential for the success of long-term development projects. He added that inefficiencies in the energy sector, including Ghana Grid Company Limited (GRIDCo) and the Electricity Company of Ghana (ECG), exacerbate costs, undermining both industrialization and investment incentives.
Jackson welcomed initiatives such as public-private partnership (PPP) corridors, stressing that these should be driven by the private sector, with ring-fenced governance structures and performance-based accountability. He warned that lessons from previous public-private ventures, including the Agricultural Development Bank and the National Investment Bank, demonstrate the risks of weak oversight and political interference.
While outlining the challenges, Jackson also emphasized the opportunities available, urging investors to consider industries, transportation, and finance sectors, describing these as “huge opportunities” that require hard work and commitment. He concluded that success in building a 24-hour economy depends on a combination of strategic alignment, efficient governance, and mobilization of local capital.
