Former Deputy Finance Minister and Member of Parliament for Obuasi West, Kwaku Kwarteng, has strongly criticised the government’s proposed 24-hour economy, urging authorities to abandon the idea entirely.
According to him, the policy is not grounded in sound economic thinking but emerged as a political campaign slogan that later gained momentum through media attention rather than policy analysis.
Speaking on JoyNews’ AM Show on Thursday, January 8, Mr Kwarteng argued that the concept was never clearly defined, making it difficult to assess its relevance or feasibility.
“This 24-hour economy is not even a policy we should be spending time on. It should be dropped immediately,” he said.
He explained that the idea entered the national conversation during the NDC’s campaign period and has since been treated as a legitimate economic strategy without sufficient explanation.
“It started as rhetoric. Politics pushed it into the campaign, the media amplified it, and now the government is presenting it as though it’s a well-thought-out policy,” he stated.
Mr Kwarteng questioned what the government actually means by a 24-hour economy, noting that no clear or satisfactory definition has been provided so far.
“Nobody has been able to explain clearly what a 24-hour economy is supposed to mean. The explanations we’ve heard have simply not been convincing,” he added.
He further argued that businesses do not need government coercion to operate around the clock, stressing that market demand naturally determines operating hours.
“If you create the right environment for the private sector, businesses will run 24 hours on their own where there is demand. You don’t need government intervention for that,” he said.
Instead of promoting what he described as a vague concept, Mr Kwarteng called on the government to focus on practical economic priorities, including infrastructure development, access to credit, and overall economic stability.
He also warned against any attempt to legislate the policy, describing such a move as unrealistic and potentially damaging.
“Are we going to force people to do business at night? Are we going to compel private enterprises to operate?” he questioned.
Highlighting Ghana’s broader economic challenges, Mr Kwarteng stressed that the country needs serious structural reforms, not political messaging.
“The global economy is becoming increasingly competitive and hostile for economies like ours. We need tough reforms on both the revenue and expenditure sides,” he said.
He acknowledged that such reforms would be difficult and could face resistance but insisted that open engagement with organised labour and the public is essential.
“These reforms won’t be easy. You will face opposition, and you must be prepared to sit down and have honest discussions,” he noted.
Mr Kwarteng concluded by urging the government to shift its focus from slogans to substantive economic action.
“There is real work to be done to secure the future of this economy. We must move beyond rhetoric and concentrate on stabilising the country,” he said.
