Former Deputy Finance Minister Dr. Ampaabeng has questioned Ghana’s proposed 24-hour economy agenda, stressing that a successful 24-hour economy goes beyond simply building and modernizing markets.
According to him, while modern markets with improved logistics, storage facilities, sanitation, transport access, security, and digital systems are important, they alone cannot sustain a true round-the-clock economy.
He explained that globally, successful 24-hour economies are driven by strong production, industrialization, digitalization, and productivity rather than only trading activities. “Markets facilitate trade, but industries create the goods, jobs, exports, and value chains that sustain continuous economic activity,” he stated.
Dr. Ampaabeng noted that countries with thriving 24-hour economies first invested heavily in manufacturing, agro-processing, export competitiveness, reliable electricity, logistics systems, and digital infrastructure.
He emphasized that factories operating multiple shifts, efficient ports, active warehouses, digital commerce platforms, and productive industries are what truly sustain economic activity throughout the day and night.
He further argued that Ghana must place equal or greater focus on expanding industrial production, strengthening local manufacturing, reducing the cost of doing business, improving logistics, advancing automation, and boosting exports if the 24-hour economy policy is to succeed in the long term.
Digitalization, he added, remains a critical pillar of any modern economy. He said no effective 24-hour economy can function without digital payments, e-commerce systems, integrated tax structures, smart security systems, and reliable internet connectivity.
Dr. Ampaabeng also questioned whether existing commercial hubs such as Makola Market, Kejetia Market, Mankessim Market, and Kaneshie Market could be modernized at a lower cost through better lighting, security, cold storage, digital systems, sanitation, and smart infrastructure while the government invests more heavily in productive sectors.
“This is not an argument against market modernization. It is an argument for balance,” he stressed.
He concluded that sustainable economic transformation requires Ghana to build strong productive and industrial foundations first, insisting that the national conversation on the 24-hour economy must remain thoughtful, evidence-based, and focused on long-term national development rather than political excitement.
“In all, we must remember it is for our collective good,” he concluded.
