Mahama: 24-Hour economy is both a destination and a programme

President John Dramani Mahama has clarified his 24-Hour Economy policy. He described it as a long-term national goal. It aims to transform Ghana’s productive sectors.

In Accra, he engaged stakeholders about the policy's implementation. He provided a “clear lens” for understanding the initiative. “It is both a destination and a programme,” Mahama said.

As a destination, the policy envisions Ghana operating around the clock. This will maximize productivity and infrastructure usage. It will also enhance human capital through multiple shifts day and night.

Mahama noted that this approach would improve capital efficiency. It would help move the country closer to full employment and economic growth. “The 24-hour economy reflects high productivity and capital utilization,” he explained.

He emphasized that this idea gained public interest during the 2024 election campaign. It remains central to his economic transformation agenda.

As a programme, the 24-hour economy requires significant restructuring of Ghana’s systems. This involves reengineering production to focus on higher volumes and diversity.

“We must shift from raw materials to value-added products,” he stated. This includes wholesome foods, pharmaceuticals, garments, industrial inputs, and digital services.

Mahama stressed that this policy is not just a slogan. It is a practical roadmap needing strategic planning and investment.

The 24-Hour Economy concept has sparked national debate. Proponents highlight its potential for job creation and industry modernization. Critics raise concerns about implementation capacity and energy demands.