Accra, Ghana//-Ghana’s President John Dramani Mahama has officially launched the “24-Hour Economy” initiative, emphasising a commitment to fostering private sector leadership and innovation.
During the launch, he highlighted the critical role of the private sector in driving sustainable growth and pledged government support to ensure a seamless transition into this dynamic new framework.
Speaking at the launch in Accra, President Mahama expressed that the initiative marks a significant change in the country’s policy approach, moving beyond simple political statements to a unified, multi-sector effort aimed at transforming Ghana’s economic architecture.
“This is more than a policy initiative; it is a national reset, a bold strategic shift to unlock our country’s full productive potential,” he said.
According to President Mahama, the initiative is supported by an estimated $4 billion in investments, with the government pledging between $300 million and $400 million as seed capital to stimulate private sector involvement.
He stated that public funding will serve a “catalytic” role rather than being the primary source, concentrating on establishing key infrastructure and strategic deployment strategies.
“Any government funding in 24-Hour Plus will be catalytic, serving as seed funding for the 24-Hour Plus Authority and supporting bulk infrastructure,” he added.
The president also emphasised that the initiative will be driven primarily by the private sector, with the government providing support to encourage innovation and investment at the enterprise level.
“The private sector will lead the 24-Hour Plus Programme. Government will facilitate and not dominate,” he stated.
Positioning the policy within a historical and ideological context, Mahama affirmed that the agenda represents a reassertion of Ghana’s foundational principles.
“Today, we reclaim our founder’s vision of a self-reliant, industrious and inclusive African nation that works with its creativity and ensures prosperity for all,” he emphasised.
The “24-Hour Economy” policy, described by the government as a “national reset and game changer,” is one of President Mahama’s and the National Democratic Congress (NDC)’s key campaign promises ahead of the 2024 general elections. This initiative seeks to reduce unemployment by creating more job opportunities through a three-shift working system across key sectors of the economy, including manufacturing, agro-processing, healthcare, transportation, and retail.
