Modernising Ghana’s traditional markets through the 24-Hour Economy Markets initiative
Traditional markets are vibrant, open-air economic hubs where a significant proportion of local retail trade, particularly in food and agricultural produce, takes place.
Ghana possesses numerous traditional markets across its 16 administrative regions and 261 districts. These vibrant, open-air hubs serve as important economic centers for local retail trade, particularly in food and agricultural goods. Annual turnover for each market averages around US$4 million, providing livelihoods for traders, porters, drivers, and other transport operators, while also generating market opportunities for farmers, artisans, and small-scale businesses.
Traditional markets contribute significantly to Ghana's retail sector, accounting for approximately 60 percent of total retail sales and 20 percent of imported high-value food product sales. They are also crucial for women's economic empowerment, with over 85 percent of major importers' and distributors' business channeled through open markets.
Despite the growth of shopping malls and supermarkets, about 95 percent of Ghanaians still prefer shopping in these traditional markets due to cost and accessibility. However, many face longstanding challenges such as poor sanitation, inadequate infrastructure, and food safety concerns. To address these issues, His Excellency President John Dramani Mahama launched the 24-Hour Economy Markets Initiative.
Spearheaded by the Ministry of Local Government, Chieftaincy and Religious Affairs, this government-led initiative aims to rehabilitate and modernize Ghana's traditional markets into 24-hour, integrated commercial centers. The project will transform existing markets into multipurpose facilities, providing traders, farmers, producers, and consumers with improved, organized environments and extended trading hours.
Resources for implementation will be channeled to metropolitan, municipal, and district assemblies to ensure local ownership and reflect local conditions. The modernized markets are expected to enhance economic opportunities by offering additional spaces for business, essential facilities and supporting services, and improved infrastructure.
Written by urgent.news from Ghanaian Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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