24-hour economy was born from Ghana’s 48-year development plan – Nii Moi Thompson

Dr Nii Moi Thompson, Chairman of the National Development Planning Committee (NDPC), has revealed that Ghana's flagship 24-Hour Economy Programme was derived from the country's 48-year Development Plan. This key initiative was one of the few to emerge from the long-term development framework, though the plan itself was not legislated. Despite the failure to pass the broader framework, the 24-hour economy was retained and adopted by the NDC.

The NDPC chairman further stated that other notable initiatives, such as the Ministry of Sports and Recreation, also originated from the 48 Development Plan. He also mentioned the Ghana Agency for Development Cooperation, an initiative linked to the plan, which is currently under development between the NDPC and the Ministry of Foreign Affairs.

Dr Thompson assessed the implementation of the 24-hour economy, noting that those behind the programme had made progress, particularly in securing investments across various business categories. However, he acknowledged that large businesses typically require more time for investments to yield results. He emphasized that the programme must increasingly focus on small and medium-sized enterprises (SMEs) in the coming years to ensure a comprehensive approach.

In addition to job creation, Dr Thompson highlighted the importance of addressing underemployment and poor-quality jobs. He expects that the government will work on these aspects in the next two years to ensure a more balanced and sustainable economic growth.