24-Hour Economy Foundations Laid, Jobs Next – Ricketts-Hagan

Story By : Deborah Adorsu

The Member of Parliament for Cape Coast South and Board Chairman of the Ghana Revenue Authority, George Kweku Ricketts-Hagan, says government has laid the foundations for the 24-hour economy policy, and the next phase will focus on translating gains into sustainable jobs.

Speaking in an interview on the sidelines of the recently concluded IMF/World Bank Group annual meetings in Bangkok, Thailand, the former Deputy Finance Minister said the economy has been stabilized and the task ahead is job creation for the youthful population.

He described the 24-hour economy as a long-term undertaking, not a short-term fix.

“We probably did not comprehend the enormity of the initiative, but it’s not something that’s supposed to be short-term. It’s long-term, so it has to be planned properly. What the 24-Hour Economy Secretariat has done is that they’ve put the building blocks in,” he said.

Launched in July 2025, the policy seeks to boost productivity and industrialisation across multiple sectors, promote self-reliance and export-led growth and create jobs through round-the-clock economic activity.

Ricketts-Hagan said reliable energy supply, business incentives and ready markets for goods and services are essential requirements for the policy’s success.

His comments come as some economists have called for a phased approach backed by budgetary allocations.

The 24-Hour Economy Secretariat in July reported that 268 filling stations and 33 manufacturers had adopted the 1-3-3 shift system, creating over 160,000 direct jobs, with US$5.5 billion in projects signed from an $11.5 billion pipeline.