Nelson Cudjoe Kuagbedzi, Head of Finance at Merban Capital, has cast doubt on the adequacy of the $4 billion allocated for the rollout of Ghana’s 24-hour economy initiative, suggesting that the projected amount may be too small for the scale of the programme.
Speaking on The Big Issue on Channel One TV, Kuagbedzi questioned the feasibility of fully implementing such an ambitious policy with the current budget, introduced by former President John Dramani Mahama on July 2.
“The concern is about how the government plans to fund this initiative. President Mahama estimated the programme would cost around $4 billion, but given its scope, that figure may not be enough,” he remarked.
He emphasized that a clear, reliable funding strategy is essential, noting that many past government projects have struggled or failed due to inconsistent financing.
“The government plans to commit $300 million in seed capital for the first phase. But where will the rest come from? How will the Ghana Infrastructure Investment Fund or the private sector mobilize this money? We need a dependable funding source for this to work,” he added.
Kuagbedzi proposed tapping into Ghana’s growing pension fund sector as a potential solution. With pension fund assets expected to approach GHC100 billion by the end of 2025, he argued that this could be a viable source of support for the 24-hour economy.
Despite his concerns, he praised the vision behind the policy, calling it a “brilliant” idea with the potential to reshape Ghana’s economy.
“The policy has real potential to transform the economic structure. The goal of creating 1.7 million decent, quality jobs is ambitious but achievable,” he stated.
The 24-hour economy initiative is designed to enhance productivity, generate employment, and accelerate economic development by promoting round-the-clock operations in sectors such as manufacturing, logistics, healthcare, and public services.
