By Love Wilhelmina Abanonave
Financial Economist and Policy Analyst, Dr. Peter Terkper has stated that, Ghana’s 24-hour economy initiative needs to be driven more by the private sector than the public sector to which he argues that, implementing a 24-hour economy in the public sector would be costly and potentially lead to idle workers in offices.
He gave instances where offices like the Driver and Vehicle Licensing Authority (DVLA) or passport offices, where services aren’t necessarily needed daily would lead to workers sitting idly at work.
“The 24-hour economy will have to be more private sector driven than the public sector because if you want to do it at the public sector, the compensation budget will be thrown out of board”, he noted.
Speaking on the GTV breakfast show today, March 3, Dr. Terkper instead suggested government focus on private sector-driven growth, ensuring market demand and security are in place. He also emphasized the need for the government to secure Ghana’s borders to curb smuggling, which is undermining local industries and depriving the state of revenue.
According to him, the 24-hour economy should be focused on the borders which he described as porous.
“A lot of people are taking advantage of our porous borders and bringing in items while not paying taxes, they’re competing with people who have established factories, are paying utility bills, pension funds and GRA. We have organizations that feed thousands of families that cannot run 24 hours if our borders are not secured” Mr. Terkper disclosed.
President John Dramani Mahama assented to the 24-Hour Economy Authority Bill on February 19, 2026.
The policy is expected to create 1.7 million quality jobs within four years, focusing on sectors like agriculture, manufacturing, logistics, and services.
The government has allocated GHS 110 million in the 2026 Budget to support the initiative and outlined key components of the 24-Hour Economy Policy, including Production Transformation, Supply Chain and Market Efficiency, and Human Capital Development.
