Ghana's Parliament takes a bold step towards a 24-Hour Economy with a controversial bill.
In a move that has sparked both excitement and debate, the Parliament has passed the 24-Hour Economy Authority Bill, 2025, aiming to revolutionize the country's economy. This bill is designed to establish a dedicated authority to oversee and implement the government's ambitious 24-Hour Economy and Accelerated Export Development Programme.
But what does this mean for Ghana's future?
The bill's foundation rests on three critical pillars: transforming production systems, developing supply chain and market systems, and enhancing labor development. These pillars are expected to drive the country's economic growth and global competitiveness.
During the parliamentary debate, the Majority Leader, Mahama Ayariga, clarified that the 24-Hour Economy Authority is not a standalone solution. Instead, it will serve as a coordinating body, ensuring collaboration between ministries and agencies to boost productivity and job creation.
Ayariga highlighted the shortcomings of past policies, such as the Planting for Food and Jobs initiative, which lacked robust production systems. He emphasized the need for a centralized authority to address these gaps.
And this is where it gets controversial...
Kojo Oppong Nkrumah, Member of Parliament for Ofoase Ayirebi, vehemently opposed the bill, claiming it would only create unnecessary bureaucracy and waste state resources. He argued that successful 24-hour economies like New York, Tokyo, and London did not rely on similar authorities.
Nkrumah further questioned the need for the Authority, suggesting that existing institutions like the Ghana Export Promotion Authority (GEPA) already contribute to export development. He also criticized the bill's lack of detail regarding 24-hour operations and the specific agencies involved, contrary to the National Democratic Congress's (NDC) election promises.
The debate intensifies as Nkrumah challenges the Majority's claim of 1,000 jobs created, demanding evidence. This bill's passage has ignited a discussion on the best path to economic prosperity, leaving many wondering: Is this the right approach, or is it an unnecessary layer of bureaucracy?
What are your thoughts on this controversial bill? Do you think it will transform Ghana's economy, or is it a step in the wrong direction? Share your opinions and insights in the comments below!
