Dr Anim-Prempeh, also a legal practitioner, described the passage of a law to back the establishment of the 24-hour Economy and Accelerated Export Authority as “a progressive step,” calling for adequate funding to execute its objectives and activities. 

He said without resources, the initiative, capable of transforming Ghana into a self-sufficient and export-led economy by promoting continuous productivity and job creation, risked remaining a political instrument rather than a transformative economic framework. 

Delivering the message on the State of the Nation, last Friday, President John Dramani Mahama announced GHS110 million for the implementation of the 24-hour economy, describing the programme as “the boldest economic transformation initiative in Ghana’s recent history.” 

“We have moved decisively from planning to action on our flagship 24-Hour Economy and Accelerated Export Development Programme… All is now set for take-off,” the President said. 

In an exclusive interview with the Ghana News Agency, on Monday, Dr Anim-Prempeh said; “If implemented with adequate resources, strong security, and professional oversight, the 24-hour economy could reshape Ghana’s economic landscape.” 

“It is important that the Authority is well-resourced. They should be able to go out and look for funding to be able to execute most of the activities that they have outlined.” 

He recommended expansion of recruitment into various security services with both human and technical logistics strengthened to safeguard businesses operating round-the-clock, in addition to functional streetlights and effective road networks. 

Dr Anim-Prempeh advised the government against the failure to provide  the incentives promised private sector participants to encourage them to adopt continuous operations, increase production, and create more job opportunities. 

The incentives include no taxes on importing of machinery for manufacturing, solar and renewable energy inputs, raw materials (if not available locally), vehicles and logistics equipment, as well as a corporate income tax exemption for farming in strategic value chains. 

The Economist said it was important for the government to leverage diplomacy to create markets within the sub-region, boosting demand for Ghanaian products without putting pressure on the Cedi. 

He cautioned against politicising appointments within the authority, saying: “The people that ought to be appointed must be technical and professional people, not just mere political affiliates and actors.” 

Accountability and transparency were critical to driving confidence in the initiative, he said, urging the government not to compromise on dealing with persons found culpable of taking undue advantage of the system. 

Ghana aims to restore food sovereignty, stabilise food prices, reduce import dependence, create decent jobs, especially for the youth, and reposition agriculture as a strategic growth sector under the 24-hour economy initiative. 

Already, the Tema Port has started operating 24/7, enabling importers to clear goods at any time, easing congestion, bringing together customs, banking, and other relevant agencies to enhance efficiency and boost trade. 

The Driver and Vehicle Licensing Authority (DVLA) has also opened a new office at Adenta Bus Terminal, providing round-the-clock services and improving accessibility and convenience to motorists. 

While the Passport Head Office has cleared a backlog of over 40,000 passport applications, the Ministry of Local Government, Chieftaincy and Religious Affairs has finalised the designs for construction of 24-hour modern markets across the country.