{
  "id": 10304398,
  "title": "Modernising Ghana’s traditional markets through the 24-Hour Economy markets initiative",
  "url": "https://urgent.news/2026/09/27/modernising-ghanas-traditional-markets-through-the-24-hour-economy-10304398",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-27T22:12:01.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/modernising-ghanas-traditional-markets-through-the-24-hour-economy-markets-initiative/"
  },
  "original_language": "en",
  "account": "Ghana boasts a network of traditional markets across its 16 administrative regions and 261 districts, serving as vital hubs for accessing a wide array of goods and services at lower prices. These markets, such as Kotokoraba Market in Cape Coast, Market Circle in Takoradi, and Kantamanto Market in Accra, generate significant economic activity, contributing to the livelihoods of thousands of traders, porters, drivers, and other transport operators. They facilitate the distribution of food and other goods, connecting producers, wholesalers, retailers, and consumers throughout the country. Traditional markets constitute roughly 60% of total retail sales, with over 90% of local staple foodstuffs and more than 85% of Fast-Moving Consumer Goods (FMCG) sales passing through them. Despite the rise of shopping malls and supermarkets, an estimated 95% of Ghanaians continue to shop in these open-air markets primarily due to cost and accessibility. However, many of these markets have seen little modernization over the decades, facing challenges like poor sanitation, inadequate space, poor infrastructure, and food-safety concerns. To address these issues, President John Dramani Mahama launched the 24-Hour Economy Markets Initiative, aiming to transform traditional markets into modern, multipurpose facilities that operate 24/7. Spearheaded by the Ministry of Local Government, Chieftaincy and Religious Affairs in partnership with Metropolitan, Municipal and District Assemblies, the initiative seeks to rehabilitate and modernize the country's informal markets. The envisioned facilities include modern shops, warehouses, cold-storage areas, banking services, sanitation, restaurants, childcare, health clinics, and first responder posts. By providing organized, accessible spaces for traders, farmers, producers, and consumers, the 24-Hour Economy Markets Initiative aims to stimulate economic activity, increase productivity, create jobs, and foster wealth creation within beneficiary communities.",
  "summary": "These markets play a significant role in Ghana’s economy. Historical estimates cited by the World Bank and the United States Department of Agriculture’s Foreign Agricultural Service place the average annual turnover of traditional markets in Ghana at approximately US$4 million per location. They provide livelihoods for numerous traders, porters, drivers and other transport operators, while…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Adom Online",
        "title": "Ghana could lose European gas markets without action on methane emissions – Expert",
        "url": "https://urgent.news/2026/09/27/ghana-could-lose-european-gas-markets-without-action-on-methane",
        "published": "2026-09-27T16:54:02.000Z"
      },
      {
        "outlet": "Joy Business",
        "title": "Modernising Ghana’s traditional markets through the 24-Hour Economy markets initiative",
        "url": "https://urgent.news/2026/09/27/modernising-ghanas-traditional-markets-through-the-24-hour-economy",
        "published": "2026-09-27T22:12:01.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}