The success of Ghana’s much-anticipated 24-hour economy hinges on more than policy; it demands power and water. That’s according to Mr. Stephan Miezah, President of the Ghana National Chamber of Commerce and Industry (GNCCI), who has called on government to treat reliable electricity and water supply as non-negotiable foundations for the policy’s implementation.
Mr Miezah said while the policy offers transformative potential for Ghana’s economy, it can only succeed if the necessary infrastructure, including power and water supply, is guaranteed to support uninterrupted operations across sectors.
“The 24-hour economy is a laudable vision, but it must be underpinned by dependable utilities, business security, access to affordable credit, and strong forex controls. Without these, the policy could falter at implementation,” he said.
He further recommended that government attention be directed toward empowering women- and youth-led enterprises, which he described as critical pillars of inclusive economic growth.
“Youth unemployment and the marginalisation of women in business must end. Identifying and retooling their ventures is the way forward under this new economic model,” he stressed.
Mr Miezah compared global examples of 24-hour economies, noting that while Dubai’s success has been service-driven and China’s model focused on industrialisation, Ghana’s comparative advantage lies in agriculture.
“Given our vast arable land and favourable climate, anchoring Ghana’s 24-hour economy on agriculture and agro-processing makes strategic sense,” he said.
He welcomed the vision of President John Dramani Mahama to use the 24-hour economy to boost job creation, support agro-industrialisation, and position Ghana as both an import-substitution and export-driven economy.
According to Mr Miezah, aligning the policy with incentives for private sector growth, modernising agriculture, and investing in manufacturing could result in improved productivity, job creation, and macroeconomic stability.
“This is a timely opportunity to create sustainable jobs and tackle economic challenges, including high inflation, currency depreciation, and high interest rates,” he said.
He added that with the right strategic investments and stakeholder collaboration, the 24-hour economy could be a game-changer in Ghana’s journey toward economic transformation.
Mr Miezah reaffirmed the GNCCI’s readiness to support the policy’s implementation through advocacy, private sector mobilization, and policy dialogue.
