By Iman Abdulai
The 24-Hour Economy Secretariat is gearing up to launch a groundbreaking6 initiative on July 2, 2025, aimed at transforming Ghana’s economic landscape. According to Abdul Nasser Alidu, Head of Strategy and Programmes at the Secretariat, the private sector will play a pivotal role in driving the growth of this economy.
Key Components of the 24-Hour Economy
– Private Sector Participation: The programme is designed to enable businesses to tap into a more vibrant and responsive economic environment, with financing being a crucial component to ensure success.
– Financial Strategy: The Secretariat is exploring ways to attract funding without overburdening the government’s fiscal resources, deliberately designed to avoid adding pressure to the national budget.
– Growth Potential: The initiative aims to tackle unemployment and boost productivity by promoting continuous, round-the-clock economic activity.
Investment and Funding
The government plans to invest $300-400 million as seed funding to attract private sector investment, with a projected total cost of $4 billion. Potential pledges have already reached $2 billion, with key components including eight integrated sub-programmes ยน.
Implementation and Impact
The programme will focus on strategic value chains such as agro-processing, textiles, pharmaceuticals, and logistics, with incentives like tax rebates and import duty waivers to encourage businesses to operate round-the-clock. This initiative is expected to create 1.7 million jobs within four years and enhance Ghana’s regional trade competitiveness.