– An economist has called for sustained funding, enhanced security and professional leadership to ensure the successful implementation of Ghana’s 24-hour economy programme, describing it as a potentially transformative policy for growth and exports.
Dr. Daniel Anim-Prempeh, Chief Economist at the Public Initiative for Economic Development (PIED), said the recently passed law establishing the 24-Hour Economy and Accelerated Export Development Authority marked a progressive step. However, he cautioned that without adequate financial backing and institutional capacity, the initiative could fall short of expectations.
Speaking in an interview in Accra, Dr. Anim-Prempeh noted that while government has allocated GHS110 million for the rollout, the Authority must be properly resourced to coordinate round-the-clock production, logistics and export activities.
“If implemented with adequate resources, strong security and professional oversight, the 24-hour economy could reshape Ghana’s economic landscape,” he said, stressing that the Authority should also be empowered to mobilise additional funding to execute its mandate effectively.
President John Dramani Mahama recently described the 24-hour economy as the boldest economic transformation initiative in Ghana’s recent history, announcing that implementation had moved from planning to action.
Dr. Anim-Prempeh argued that for businesses to operate continuously, government must strengthen security services through expanded recruitment and improved logistics, including surveillance systems and rapid response capacity.
He added that investments in street lighting, reliable road networks and stable power supply would be essential to support extended operating hours.
He further urged government to honour incentive packages promised to private sector participants to encourage increased production and job creation.
These incentives include tax exemptions on imported machinery for manufacturing, renewable energy equipment, selected raw materials not available locally, vehicles and logistics equipment, as well as corporate income tax relief for farming within strategic value chains.
From a macroeconomic perspective, he advised authorities to leverage economic diplomacy to expand regional export markets, particularly within West Africa, to stimulate demand for Ghanaian goods without exerting additional pressure on the cedi.
The economist also warned against politicising appointments within the new Authority, emphasising the need for technical competence and professional management to build investor confidence and ensure policy continuity.
“Accountability and transparency will be critical. Government must act decisively against any abuse of the system,” he said.
The 24-hour economy initiative aims to restore food sovereignty, stabilise food prices, reduce import dependence and create sustainable jobs, especially for young people, while repositioning agriculture and manufacturing as strategic growth drivers.
Some public institutions have already begun transitioning to extended operations. The Tema Port is operating around the clock to ease cargo clearance and improve trade efficiency.
The Driver and Vehicle Licensing Authority has opened a 24-hour service office at the Adenta Bus Terminal, while the Passport Head Office has cleared a significant backlog of applications.
Analysts say the long-term success of the 24-hour economy will depend on disciplined implementation, private sector participation and sustained macroeconomic stability.
