Take off of 24-hour economy programme crucial for country’s development

 President John Dramani Mahama’s announcement that the 24-Hour Economy Accelerated Development Programme will commence on July 1, 2025, is a welcome news.

It brings to an end all doubts and speculations about the government’s commitment to delivering on one of its major campaign promises.

The Ghanaian Times does not have much knowledge about the mode of implementation of the programme, but the Presi­dent has hinted the programme would begin from the Ghana Ports and Harbours Authority, that is the Tema Port.

Before the 2024 general elections, the ruling National Democratic Congress (NDC) laid out a number of initiatives aimed at reviving the economy and creating sustainable jobs for the teeming youth.

Among them was the promise to establish a 24-Hour Econo­my—an initiative that seeks to reposition Ghana’s economy for inclusive and sustained growth.

With the official launch date now set, and structures put in place for its implementation, President Mahama is making good on his pledge.

Encouragingly, the govern­ment has appointed a Coordina­tor at the Presidency, Mr Goosie Tanoh, to supervise the imple­mentation of the policy.

A comprehensive blueprint has also been developed, and a Secretariat has been established to engage stakeholders.

The blueprint outlines six strategic objectives and provides a detailed roadmap for imple­mentation.

It highlights a new economic direction for Ghana—one that focuses on building a resilient, self-reliant, industrially competi­tive, and export-driven economy.

Importantly, the programme is not merely about night shifts or round-the-clock operations. As clarified in the blueprint, the 24-Hour Economy aims to create an enabling ecosystem where businesses can thrive and value addition becomes the new economic norm.

The policy is anchored on sev­eral critical pillars. These include reducing dependence on import­ed food and inputs, minimising post-harvest losses through better logistics, and expanding domestic manufacturing.

It also seeks to provide af­fordable patient capital to unlock the growth potential of Micro, Small, and Medium Enterprises (MSMEs), while nurturing a highly skilled, digitally fluent, and ethically grounded work­force.

Through enhanced local production of industrial raw ma­terials, agricultural inputs, Ghana can reduce its foreign exchange burden and enhance resilience to global supply chain disruptions.

It is regrettable that over the years, successive governments have not invested enough effort in promoting local production. The over-reliance on imports has made the economy vulnerable to external shocks and exchange rate volatility. This programme, if implemented effectively, can begin to reverse this trend.

The Ghanaian Times commends President Mahama for the bold vision behind this transformative policy. However, we caution that Ghana has long been good at crafting beautiful policies but often falls short, when it comes to implementation.

To avoid pitfalls that had befallen similar policies and programmes in the past, the government must ensure that ro­bust monitoring and evaluation mechanisms are in place to keep the programme on track.

Financing will be key, given the country’s limited fiscal space due to a heavy public debt bur­den. In view of this, the govern­ment must look to development partners, donor agencies, and the private sector for support.

The private sector, as the engine of growth, must be a central partner in the execution of this initiative. This is not only practical but also necessary to ensure long-term sustainability and innovation.

More importantly, the pro­gramme must be implemented in a non-partisan, inclusive manner to ensure national ownership and success.

The Ghanaian Times entreats the government to ensure the 24-Hour Economy Programme does not become another white elephant, but rather be a prac­tical programme for economic diversification, job creation, and foreign exchange generation.

While it may not solve all of Ghana’s developmental challeng­es overnight, it is a crucial step in the right direction—towards an economy that works for all.