President John Dramani Mahama said Wednesday,July 2,that  his administration will take a backseat in the execution of Ghana’s proposed 24-Hour Economy initiative, positioning the private sector as the primary engine of the ambitious economic reform.

Speaking at the official launch of the program in the capital, President Mahama outlined a strategy in which government plays an enabling—not directive—role, signaling a hands-off approach intended to spur private-sector confidence and investment.

“The private sector will lead the 24-Hour Plus programme. Government will facilitate and not dominate,” Mr. Mahama said.

The initiative aims to boost productivity, employment, and economic output by encouraging round-the-clock business activity across key sectors. Mahama stressed that public involvement would be limited to strategic support, describing government funding as “catalytic” rather than prescriptive.

“Any government funding in 24-hour plus will be catalytic, serving as seed funding for the 24-hour plus authority and support bulk infrastructure,” he noted.

The model is designed to attract larger pools of capital without adding significant pressure to state finances. Mahama said enterprise-level financing would be sourced primarily through commercial banks, development finance institutions (DFIs), and blended finance instruments—tools that combine public and private capital to de-risk investment.

The announcement reflects a broader push to reframe the government’s role in economic development, with Mahama signaling a preference for market-led growth underpinned by strategic public investment.

Source:TheDotNews