Ghanaian Think Tank Demands Transparency on $4bn 24-Hour Economy Before New $10bn Initiative Rolls Out

Ghana's Institute of Economic Research and Public Policy has issued a stark challenge to the Mahama administration: prove the $4 billion 24-Hour Economy programme is delivering results before rolling out an even larger $10 billion New Economy initiative. The demand comes amid growing concerns about accountability and verifiable outcomes from flagship economic programmes.

At a press conference in Accra this week, IERPP Executive Director Professor Isaac Boadi highlighted a troubling pattern: the government cannot provide basic performance data on its existing multi-billion-dollar initiative, yet is preparing to announce a substantially larger one. He called for concrete evidence of funds disbursed, projects implemented and employment created under the 24-Hour Economy programme before the New Economy proceeds.

The Accountability Gap

The 24-Hour Economy and Accelerated Export Development Programme (24H+) was launched on 2 July 2025 with ambitious targets. Officials initially set a goal of creating at least 1.7 million jobs over four years. The original financing target was $4 billion, announced by Presidential Adviser Augustus Goosie Obuadum Tanoh in June 2025.

However, by October 2026—over a year into implementation—the Secretariat could not produce verified employment figures. According to a MyJoyOnline report, Abdul-Nasser Suglo Alidu, then Head of Strategy and Programmes, stated: "I won't be able to give you a number in terms of the total number of jobs the 24-hour economy created. We don't want to throw numbers around." This admission underscores a fundamental failure in programme management.

Prof. Boadi also identified discrepancies in the 2026 Budget. The detailed expenditure table listed GH¢90 million for the 24-Hour Economy—comprising GH¢70 million for goods and services and GH¢20 million for capital expenditure—but the Budget Speech cited GH¢110 million. Such inconsistencies raise questions about financial oversight and transparency.

Further muddying the waters, the Secretariat reported in July 2026 that agreements worth approximately $5.5 billion had been signed, with projections of over 160,000 direct jobs. Yet Prof. Boadi cautioned that signed agreements do not equal secured financing or jobs actually created. The institute is demanding clarity on how much of this represents binding commitments, how much has been disbursed and which projects have entered implementation.

Why It Matters for Ghana

This dispute reflects a critical governance challenge facing Ghana: the gap between announcements and accountability. For ordinary Ghanaians—particularly young people seeking employment—grand economic initiatives mean little without verifiable results. When a government cannot account for billions of cedis in spending or prove that promised jobs materialised, public trust erodes.

The 24-Hour Economy was designed to expand production, boost exports, attract private investment and create sustainable employment. These remain urgent national needs. Yet if the administration cannot measure progress on existing programmes, how will citizens evaluate the New Economy's success? And how can policymakers learn from experience if outcomes remain unmeasured?

The IERPP's demands reflect broader concerns about fiscal discipline and results-based governance. Ghana faces pressure from development partners and investors to demonstrate effective use of public resources. Launching large-scale initiatives without transparent tracking of predecessors weakens the nation's credibility and squanders opportunities to identify what works and what does not.

The Road Ahead

Prof. Boadi is calling on the government to:

• Provide a detailed breakdown of the $4 billion 24-Hour Economy financing—amounts pledged, secured, released and spent.
• Publish comprehensive employment data, distinguishing between permanent, temporary and indirect jobs.
• Reconcile budget discrepancies and confirm actual disbursements versus allocations.
• Detail which projects have been completed and which remain pending.

The government should also clarify the New Economy's financing and implementation strategy, demonstrating how lessons from the 24-Hour Economy will inform the larger initiative. Without such transparency, Ghana risks repeating the same accountability failures on an even grander scale.