Former Deputy Finance Minister and Member of Parliament for Obuasi West, Kwaku Kwarteng, has dismissed the government’s proposed 24-hour economy as political rhetoric rather than a workable economic policy, urging policymakers to focus on practical reforms that support private sector growth.
Speaking on JoyNews’ AM Show on Thursday, January 8, 2026, the former minister questioned both the substance and clarity of the policy, arguing that it has been driven more by campaign messaging than by sound economic planning.
“I think the 24-hour economy is not a policy that we should even spend time discussing. We should abandon this 24-hour economy immediately,” Kwarteng stated.
According to him, the idea gained prominence during the National Democratic Congress (NDC) campaign season and has since been amplified through political debate and media attention.
However, he believes the government is now attempting to present it as a credible policy framework without adequately defining its scope or implementation strategy.
“It entered the NDC campaign as rhetoric. The media picked it up, politics pushed it into the mainstream, and now the government is acting as though it is a fully developed policy,” he said.
Kwarteng criticised the lack of clear explanation surrounding what the 24-hour economy entails and how it would be implemented in practical terms.
He argued that despite repeated references to the concept, government officials have failed to offer convincing details.
“Nobody has been able to clearly explain what a 24-hour economy actually means,” he noted.
“Nobody has been able to clearly explain what a 24-hour economy actually means,” he noted.
“When the government says it will provide a 24-hour economy, what exactly are they talking about? So far, the explanations have not been satisfactory.”
The former deputy finance minister stressed that economic activity cannot be legislated into existence simply by policy declarations.
The former deputy finance minister stressed that economic activity cannot be legislated into existence simply by policy declarations.
Instead, he argued that extended business hours naturally emerge when the right conditions are created for private enterprise.
“There is no such thing as a 24-hour economy by force,” Kwarteng said.
“There is no such thing as a 24-hour economy by force,” Kwarteng said.
“If you create the right environment for the private sector—stable power supply, security, access to finance, and demand—businesses will operate 24 hours naturally where it makes sense.”
He warned against policies that could pressure businesses to operate beyond viable hours, describing such approaches as potentially harmful to productivity and cost efficiency.
He warned against policies that could pressure businesses to operate beyond viable hours, describing such approaches as potentially harmful to productivity and cost efficiency.
According to him, not all sectors are suited to round-the-clock operations, and forcing them to do so could increase operational costs without corresponding economic benefits.
Kwarteng further argued that Ghana’s economic priorities should focus on addressing structural challenges such as high interest rates, energy reliability, logistics constraints, and taxation burdens rather than promoting slogans.
“What businesses need is predictability, affordable credit, reliable utilities, and efficient regulation,” he said.
Kwarteng further argued that Ghana’s economic priorities should focus on addressing structural challenges such as high interest rates, energy reliability, logistics constraints, and taxation burdens rather than promoting slogans.
“What businesses need is predictability, affordable credit, reliable utilities, and efficient regulation,” he said.
“Once these fundamentals are right, the economy will determine its own operating hours.”
His comments come amid ongoing national debate over the feasibility of a 24-hour economy as part of the government’s broader economic agenda.
His comments come amid ongoing national debate over the feasibility of a 24-hour economy as part of the government’s broader economic agenda.
Supporters of the concept argue that extended operating hours could boost productivity, create jobs, and enhance competitiveness.
However, critics insist that without strong infrastructure and demand, the policy risks becoming symbolic rather than transformative.
Kwarteng also cautioned against using economic policy as a political branding tool, noting that serious reforms require careful planning, stakeholder engagement, and long-term commitment.
“Economic development is not driven by catchy phrases,” he said.
Kwarteng also cautioned against using economic policy as a political branding tool, noting that serious reforms require careful planning, stakeholder engagement, and long-term commitment.
“Economic development is not driven by catchy phrases,” he said.
“It is driven by discipline, consistency, and hard decisions.”