Power deficits, water pollution, unreliable internet threaten 24-hour economy – Prof Stephen Adei

Former Rector of GIMPA, Professor Stephen Adei, has cautioned that persistent power shortages, water pollution and spotty internet could undermine Ghana's ambitious 24-hour economy plan. He emphasized that the country's existing infrastructure and utility issues must be resolved before the policy can deliver its intended benefits, especially in an AI-driven economy.

"If we do not address the power deficits, water pollution, and unreliable internet in an AI economy, achieving a 24-hour economy is impossible," he stated during the 37th CIMG Annual National Marketing Performance Awards at Labadi Beach Hotel on October 17, 2026. The government has initiated the 24-hour economy policy, which is built on eight pillars, including reviving industrial activity in Akosombo and Juapong and establishing industrial parks.

However, Prof Adei questioned whether some projects under the initiative were prepared to handle continuous operations. He observed two proposed 24-hour markets near his village but noted they lacked the necessary activity level. Prof Adei urged policymakers to prioritize fundamental infrastructure requirements before expanding to a full 24-hour operating model.

He acknowledged progress in borrowing costs, with the government reducing lending rates from around 27% to nearly 16% for some borrowers in good standing. However, many businesses and individuals still faced interest rates in the 20% range, particularly those without preferential lending terms. The gap between inflation and interest rates remained a concern as it impacted the real cost of borrowing for businesses looking to invest and expand.