By Nadia Ntiamoah
The Secretariat of the government’s flagship 24-Hour Economy and Accelerated Export Development Programme has announced that it has secured Joint Development Agreements worth US$5.5 billion with local and international co-development partners, describing the achievement as a major milestone towards transforming the economy and creating 1.7 million jobs by the end of 2028.
The announcement comes in response to criticism from the Minority Spokesperson on Economy and Development, Kojo Oppong Nkrumah, who questioned the achievements of the programme and raised concerns about public expenditure associated with the government’s flagship economic initiative.
In a detailed statement, the Secretariat said the programme currently has a project pipeline valued at approximately US$11.5 billion, with agreements worth US$5.5 billion already signed as of May 2026.
According to the Secretariat, the programme is not merely a policy slogan but a comprehensive strategy designed to restructure Ghana’s economy by increasing domestic production, expanding exports, reducing imports and creating sustainable employment opportunities.
It explained that the ultimate objective is to reduce the unemployment rate from 14.7 percent, recorded in September 2024, to below 5 percent by 2034 through increased industrialisation and private sector investment.
The Secretariat disclosed that the four Joint Development Agreements signed within the past three months alone are expected to generate more than 160,000 direct jobs, contributing towards the broader target of 1.7 million direct, indirect and induced employment opportunities by 2028.
Responding to claims that Parliament had allocated GH¢650 billion to the programme, the Secretariat dismissed the assertion as inaccurate.
It clarified that the amount cited represented Parliament’s total appropriation for all government programmes over the past two years and not expenditure on the 24-Hour Economy initiative itself.
The Secretariat further explained that funding for the programme is governed by Section 18 of the 24-Hour Economy Authority Act, under which the overwhelming majority of projects are financed by private Ghanaian and international investors rather than government.
According to the statement, public funds are limited mainly to project preparation, viability gap financing where necessary and seed funding for coordinating the Secretariat’s operations during its initial years before the Authority becomes financially self-sustaining.
Addressing concerns about the pace of implementation, the Secretariat acknowledged that visible progress may appear gradual but argued that the phased rollout is intentional.
It explained that government is prioritising proper policy design, investor readiness, land acquisition, conflict-free land documentation and reliable electricity supply before major projects commence.
The Secretariat outlined several flagship projects currently under development.
Among them is the Buipe Solar and Battery Project, a US$1.45 billion investment expected to generate 1,500 megawatts of electricity while supplying industrial users with power at between 6 and 9 US cents per kilowatt-hour.
The first phase of the project is scheduled for completion in the third quarter of 2027 and is projected to create approximately 13,000 jobs.
Another major initiative is the Kambonwule Oil Palm Complex, a US$250 million investment expected to produce 228,000 tonnes of crude palm oil annually at full capacity for both domestic consumption and export.The project is expected to generate 120,000 jobs.
The Secretariat also highlighted its Bioenergy Programme at Buipe and Damanko, which is projected to create 30,000 jobs, reduce Ghana’s foreign exchange expenditure by approximately US$450 million annually, and generate additional export earnings.
In the aviation sector, the Secretariat announced progress on the Tamale Air Cargo Hub, revealing that land has already been demarcated in collaboration with the Ghana Airports Company Limited.
According to the statement, two operators have secured concessions and are expected to commence operations in 2027, helping position northern Ghana as a logistics and export hub.
Government has also introduced a Participatory Land Access Model, under which communities voluntarily lease land for investment projects in exchange for annual rental payments and equity participation in the ventures.
Meanwhile, implementation of the 24-Hour Economy concept has already begun in several sectors.
The Secretariat disclosed that under the downstream petroleum programme launched with the National Petroleum Authority in May 2026, 12 Oil Marketing Companies are now providing 24-hour services through 268 filling stations across the country.
It added that the Driver and Vehicle Licensing Authority (DVLA), the Ghana Publishing Company, and the Ghana Ports and Harbours Authority (GPHA) have also commenced round-the-clock operations.
In the manufacturing sector, the Secretariat reported that 33 companies have already introduced multi-shift operations in response to the government’s programme.
