Close Menu
    Facebook X (Twitter) Instagram
    Trending
    • Anti – LGBT Bill Back In Parliament
    • Addo Dee Bakes Unity Bread For Aspirants
    • CPS Warns Poor Financing Could Affect 24-Hour Economy Programme
    • 72% NPP Voters Want Bawumia – Says Global InfoAnalytics
    • Reflector Stickers: Ghana’s Unnecessary Harassment of Vehicle Owners
    • Court of Appeal Judge alarmed over toxic food and water from galamsey
    • Minority Plots Recall Strategy
    • Shatta Wale’s Birthday Pulls Massive Crowd
    Facebook X (Twitter) Instagram YouTube
    InsightNewsgh.ComInsightNewsgh.Com
    • Home
    • News
    • Business
    • Entertainment
    • Politics
    • Sports
    InsightNewsgh.ComInsightNewsgh.Com
    Home»Business»CPS Warns Poor Financing Could Affect 24-Hour Economy Programme
    Business

    CPS Warns Poor Financing Could Affect 24-Hour Economy Programme

    Insight NewsBy Insight NewsOctober 23, 2025No Comments4 Mins Read
    CPS Warns Poor Financing Could Affect 24-Hour Economy Programme
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The Centre for Policy Scrutiny (CPS) has warned that the government’s flagship 24-Hour Economy and Accelerated Export Development Programme (24H+) could face serious implementation and fiscal challenges unless it is backed by realistic financial planning and stronger institutional coordination.

    In its latest review released in Accra, CPS said while the 24H+ represents an ambitious and comprehensive strategy to transform Ghana’s economy, the financial assumptions and governance framework underpinning it are weak and risk undermining its success.

    The report, titled “The 24-Hour Economy and Accelerated Export Development Programme: A Critical Review”, was prepared by a team led by Executive Director and economist Dr. Adu Owusu Sarkodie and researcher Stephanie Anokyewa Tawia. It examines the coherence, fiscal credibility and feasibility of the government’s proposed transformation plan, which aims to create five million jobs by 2034 and sustain an annual GDP growth rate of six percent.

    According to the think tank, the 24H+ suffers from poor fiscal realism and a lack of ex-ante project appraisals, both of which threaten to derail implementation. The report notes that the initiative’s estimated cost of US$4 billion is likely understated and does not account for the full range of commitments, including tax incentives, infrastructure subsidies and indirect costs that could weigh heavily on public finances.

    It said that Ghana’s public investment levels, which have averaged only 2.8 percent of GDP over the past decade, are “insufficient to deliver the scale of infrastructure and industrial expansion the programme envisions.” This gap, CPS noted, could force the government to depend heavily on private sector participation, which may not materialize without credible guarantees and a clear investment framework.

    “The scale of the 24H+ ambition contrasts sharply with current fiscal realities,” the report observed, warning that without transparent costing and phased implementation, the programme could “mirror the fate of past transformation efforts that stalled after an enthusiastic start.”

    CPS further highlighted weak institutional anchoring as a major concern. It said the 24H+ is not formally integrated into the National Development Planning Commission’s (NDPC) medium-term framework, raising the risk of duplication and fragmented delivery across ministries and agencies.

    “For the 24H+ to succeed, it must be embedded within the national planning and fiscal framework,” said Dr. Adu Owusu Sarkodie, lead author of the report. “Otherwise, coordination problems, resource waste and policy overlaps will continue to undermine implementation.”

    The review also questioned the merit of some proposed fiscal incentives, such as corporate income tax rebates for firms operating multiple shifts. It said shift patterns alone are not reliable indicators of productivity or employment impact, and that the incentives should instead be tied to measurable outcomes in job creation, export performance and value addition.

    Another challenge identified is the lack of clear implementation metrics and performance indicators. CPS said that while the 24H+ outlines ambitious targets across agriculture, manufacturing, tourism and logistics, it fails to provide measurable timelines, benchmarks or accountability mechanisms to track progress.

    “There is a need for more detailed project appraisals, costing and sequencing to guide realistic implementation,” noted Dr. Sarkodie. “Without that, the programme risks being a statement of intent rather than a deliverable plan.”

    Despite these concerns, CPS acknowledged that the 24H+ offers a well-structured vision for Ghana’s industrial future. It praised the programme’s emphasis on agro-processing, manufacturing and regional development, particularly its plan to transform the Volta Basin into an agro-industrial corridor linking production zones to domestic and export markets.

    However, the think tank cautioned that the government must learn from previous development frameworks that suffered from over-ambition, poor coordination and limited fiscal space.

    “The 24H+ presents an opportunity to reset Ghana’s economic model, but it must be grounded in fiscal discipline, realistic costing and institutional learning,” Dr. Sarkodie stressed.

    24-hour economy
    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Insight News
    • Website

    INSIGHTNEWSGH seeks to give readers balanced, credible and neutral news from across Ghana and the world. We cover News, Politics, Business, Entertainment, Sports, among others.

    Related Posts

    NLA To Partner Global Leader, Scientific Games

    August 28, 2024

    Banking Sector Picks Up Pace After DDEP – Prof. Isaac Boadi

    July 15, 2024

    Joe Dadzie taking over as the new Chief Executive Officer (CEO) of the Ghana National Petroleum

    May 2, 2024

    Comments are closed.

    ADVERTISEMENT
    Health Tips
    LATEST STORIES

    Anti – LGBT Bill Back In Parliament

    October 23, 2025

    Addo Dee Bakes Unity Bread For Aspirants

    October 23, 2025

    CPS Warns Poor Financing Could Affect 24-Hour Economy Programme

    October 23, 2025

    72% NPP Voters Want Bawumia – Says Global InfoAnalytics

    October 23, 2025

    Reflector Stickers: Ghana’s Unnecessary Harassment of Vehicle Owners

    October 23, 2025
    POPULAR

    Anti – LGBT Bill Back In Parliament

    October 23, 2025

    Addo Dee Bakes Unity Bread For Aspirants

    October 23, 2025

    CPS Warns Poor Financing Could Affect 24-Hour Economy Programme

    October 23, 2025

    72% NPP Voters Want Bawumia – Says Global InfoAnalytics

    October 23, 2025

    Reflector Stickers: Ghana’s Unnecessary Harassment of Vehicle Owners

    October 23, 2025
    Facebook X (Twitter) Instagram Pinterest
    • About Us
    • Contact Us
    • Privacy Policy
    • Terms & Conditions
    • Disclaimer
    • Buy Adspace
    • Buy Adspace
    • Hide Ads for Premium Members
    © 2025 Insight News GH.

    Type above and press Enter to search. Press Esc to cancel.