Economist and Professor of Finance at the University of Ghana Business School, Godfred Bokpin, has advised the government to integrate policy initiatives such as the 24-Hour Economy and the One District, One Factory (1D1F) programme into existing state institutions instead of setting up new bodies to manage them.

Speaking on JoyNews’ Newsfile programme on Saturday, July 7, 2025, Prof. Bokpin said the creation of new secretariats and authorities for every development policy risks inflating administrative costs while weakening the long-term sustainability of such interventions.

He pointed to plans to establish a dedicated 24-Hour Economy Secretariat as an example of unnecessary duplication, arguing that existing ministries, departments and agencies are capable of overseeing the policy if properly resourced.

“Creating parallel structures adds to the burden on taxpayers,” Prof. Bokpin said.

He explained that agencies such as the Ghana Police Service and the Ghana Statistical Service already have the mandate and capacity to support aspects of the 24-Hour Economy without the need for new bureaucracies.

He cited the case of the National Health Insurance Authority, where nearly 44 per cent of available funds go into administration, as a warning.

The 24-Hour Economy policy is one of the major proposals under the current administration’s economic plan, alongside the revamped 1D1F initiative, Planting for Food and Jobs, and the building of industrial hubs. However, Prof. Bokpin noted that these programmes often struggle with poor implementation, unrealistic costing, and inadequate monitoring.

He noted that Ghana’s policy documents, including the current Grow 24 strategy, repeatedly acknowledge the country's deep-rooted economic weaknesses, such as its reliance on raw commodity exports, but fail to demonstrate how the current implementation will differ from past efforts.

“There’s broad consensus on what needs to be done, but we keep changing names and repackaging policies without addressing the underlying delivery mechanisms,” he said.

Prof. Bokpin urged that interventions such as 1D1F and the 24-Hour Economy should be based on institutional capacity and guided by measurable outcomes, similar to what is typically done under International Monetary Fund (IMF) programmes. Ghana, he observed, has undertaken 17 IMF-supported programmes since 1966, yet has never established a permanent body to manage or track implementation.

He maintained that continuity, measurable performance targets, and integration with existing structures are necessary if Ghana is to sustain progress beyond political transitions.

He added that the current cost estimate for the 24-Hour Economy policy—approximately US$4 billion falls short of what is needed to drive the level of change being proposed.

Mr Bokpin said the country must move away from politically driven branding of policies and instead adopt a more program-based, inclusive, and fiscally disciplined approach that can withstand changes in government.