President John Dramani Mahama has admitted that implementing Ghana’s ambitious 24-Hour Economy policy will not be without challenges, but expressed confidence that the country will ultimately succeed.
Speaking at the official launch of the policy on Wednesday, July 2, 2025, President Mahama described the initiative as a call to national action aimed at reshaping Ghana’s economic trajectory through increased productivity and private sector-driven growth.
“This is a call to national action. A new model of economic development grounded in productivity, powered by the private sector and coordinated by the State is going to be unveiled,” President Mahama stated.
He emphasised that the policy will focus on inclusive growth, job creation, structural transformation, and boosting exports to position Ghana as a competitive global player.
“We are under no illusions, the path is going to challenging but we’ll succeed. And we’ll succeed with discipline, coordinating and shared purpose,” the President assured.
The 24-Hour Economy forms a key part of the National Democratic Congress (NDC) government’s strategy to modernise industries, reduce unemployment, and enhance Ghana’s global competitiveness.
Presidential Advisor on the 24-Hour Economy, Dr. Goosie Tanoh, explained that the initiative will prioritise three critical areas: transforming production systems, strengthening supply chains and market efficiency, and developing a skilled workforce prepared for the demands of a modern, around-the-clock economy.
Full implementation of the policy is expected to cost approximately $4 billion (around GHS 400 billion) over the next five years.
An initial $300 million in seed funding has been committed by the government, with the private sector expected to play a major role in financing and operationalising the initiative.
Dr. Tanoh highlighted that the policy is the product of extensive nationwide consultations with stakeholders including labour unions, industry players, businesses, and the general public, ensuring it aligns with the country’s development needs and aspirations.
The launch marks the beginning of a phased, nationwide rollout of measures designed to build a resilient, competitive economy that creates jobs and opportunities for all Ghanaians — around the clock.
Source: Ghana/Starrfm.com.gh/Hamdia Mohammed
