By Ashiadey Dotse
President John Dramani Mahama has assured Ghanaians that the government will not control the 24-Hour Plus Economy program but will instead act as a supporter to help the private sector lead its implementation.
Speaking at the official launch of the program in Accra on Wednesday, July 2, 2025, President Mahama made it clear that the government’s role will be to create the right environment for businesses to grow.
“Government will facilitate and not dominate,” he emphasized.
He explained that the 24-Hour Plus Economy is designed to unlock Ghana’s full economic potential. The vision includes transporting fresh fruits and vegetables from Tamale to Europe daily, creating jobs through aquaculture along the Volta Lake, and building modern ports to cut transportation costs by up to 80%.
President Mahama added that government funding will be limited to seed capital and support for major infrastructure, while most enterprise financing will come from commercial banks, development finance institutions, and other private sources.
“Fund 24,” one of the key components of the initiative, will help businesses access capital and overcome issues like a lack of collateral and short loan terms. Credit guarantee schemes will also be introduced to reduce risk for lenders.
To oversee the program, a new independent body called the 24-Hour Plus Authority will be created. It will operate separately and report directly to the President.
President Mahama concluded by saying the 24-Hour Plus Economy is a practical step toward building a productive, job-rich, and export-driven economy, with the private sector at the forefront.
