Ghana’s long-discussed 24-Hour Economy Policy is moving from planning to execution, with implementation scheduled to begin in July. President John Dramani Mahama announced the timeline during a stakeholder engagement at the Jubilee House, where he presented a detailed roadmap for the rollout.
The policy, a cornerstone of Mahama’s 2024 election campaign, is now positioned to become a key instrument of his administration’s economic agenda.
On Wednesday, the President announced that the final draft of the policy framework has been completed, and backed by a legislative framework that will ensure oversight and sustainability. “I have reviewed it, and I’m confident we now have a coherent and actionable framework with which to deliver the results,” Mahama said. He linked the initiative’s success to macroeconomic stability, noting progress through coordinated monetary and fiscal policy.
The flagship programme will be driven by a newly proposed 24-Hour Economy Secretariat, to be established as an independent authority with legislative backing.
So what exactly is the 24-hour economy?
At its core, the policy is designed to keep Ghana working around the clock, not just in Accra, but nationwide. It promotes multi-shift work systems in industries like manufacturing, logistics, and services, aiming to increase productivity, reduce unemployment, and ease the burden on daytime infrastructure. Each district will set up a local task force to guide implementation, aligning activities with local resources and opportunities.
One of the central features of the policy is the development of what the government is calling the Volta Lake Economic Corridor. The idea is to transform Volta Lake into a major logistics and production hub that can serve both domestic and regional markets.
Explaining the concept, President Mahama said the corridor would be “centered on the Volta Lake and the Volta Basin,” adding that it is intended to function as a “national production zone and logistics hub.” The project includes plans to utilize more than two million hectares of arable land around the lake and to revamp the local fisheries sector.
To make the corridor operational, the government plans to invest in new floating transport assets, lake ports, and long-term public-private partnerships. Mahama said this would ease pressure on the country’s overburdened road networks: “The lake will be activated as a transport highway, moving food, people, and goods more efficiently than our congested roads allow us to do currently.”
At the district level, each assembly will be responsible for establishing a local task force to implement the policy, based on its specific economic strengths. These task forces will operate under the guidance of municipal and district assemblies to ensure alignment with grassroots efforts.
Mahama also highlighted support initiatives to make the policy viable. These include the creation of land banks that are zoned, titled, and investment-ready to reduce bureaucratic delays. The Aspire24 program will offer training for young people to take up shift-based employment, work in digital sectors, or start their own businesses.
On the infrastructure side, the Ghana Infrastructure Investment Fund will lead the development of industrial parks, transport links, and logistics centers. Financial institutions like the Development Bank of Ghana and the Venture Capital Trust Fund will be tasked with scaling up value chain finance to support SMEs, cooperatives, and agribusinesses.
Wrapping up his remarks, President Mahama signaled that the policy is moving into the action phase, describing it as a structured and inclusive plan now set for implementation. A draft version of the policy document will be made available for public consultation ahead of its official launch in July, which coincides with Ghana’s Republic Day.
