The General Secretary of the National Democratic Congress (NDC), Fifi Fiavi Kwetey, has clarified that the government’s flagship 24-Hour Economy policy is a long-term structural intervention that cannot be rolled out immediately without proper foundations.
Speaking in an interview on TV3 Ghana, Mr. Kwetey explained that although the initiative was a major campaign pledge, significant preparatory steps toward its implementation are already in progress, including legislative action and stakeholder consultations.
According to him, the Secretariat spearheading the policy — led by cabinet member Goosie Tanoh — has completed substantial preliminary work and submitted proposals to Cabinet, which have subsequently been forwarded to Parliament for consideration.
“The process has been on. Goosie Tanoh, who is in charge of that [the 24-Hour Economy Secretariat], who is a member of cabinet, has presented what you call the step that needs to be taken. And at the moment, as you know, the bill is in parliament. It came through cabinet. It is now in Parliament. Parliament will look at it. Then after that, the implementation can begin.
“Other things that need to be put in place regarding especially tax exemptions. That’s very important because all the people who need to come along need to have guarantees, especially about taxes.
“So it is not something that you can simply just do overnight. You need to make sure the foundations are in place in order to be able to bring all the people who need to come on board and do it properly.”
Mr. Kwetey stressed that beyond the legislative approval process before the Parliament of Ghana, the effectiveness of the policy will largely hinge on the introduction of economic incentives, particularly tax assurances, to attract and sustain private sector participation.
He added that engagements with key institutions and businesses are ongoing to ensure the initiative drives genuine economic growth and productivity, rather than becoming a mere administrative directive.
