As part of efforts to operationalise President John Dramani Mahama’s 24-Hour Economy Policy, the Ministry of Local Government, Chieftaincy and Religious Affairs is leading the charge in rolling out the 24-Hour Economy Markets, a flagship intervention that seeks to deepen local economic development and decentralisation.
On Tuesday, the Ministry engaged four consulting firms in Accra to assess preliminary design proposals for the initiative. The meeting forms part of the preparatory process to select a final concept that reflects the needs of stakeholders and the diverse economic realities across Metropolitan, Municipal, and District Assemblies (MMDAs).
In his remarks, the Minister for Local Government, Chieftaincy and Religious Affairs, Hon. Ahmed Ibrahim (MP), reaffirmed the government’s commitment to equitable development across all districts. He announced that resources for the implementation of the 24-Hour Economy Markets would be channelled directly to the MMDAs to allow for ownership and context-driven execution.
However, he stressed that the Ministry would maintain a firm monitoring role to ensure standardisation, quality control, and transparency in the use of funds.
“The 24-Hour Economy is a collective responsibility,” Hon. Ibrahim noted. “Let us shift our focus to the possibilities this policy unlocks, especially for local enterprises and make the most of this transformative opportunity.”
The initiative aligns with the broader decentralisation agenda of the Ministry, aiming to reduce urban migration and economic congestion in capital cities by creating thriving economic centres at the local level. The 24-Hour Economy Markets are expected to operate round-the-clock, offering opportunities for expanded trade, job creation, and inclusive growth.
A final design proposal will be selected in consultation with key sector actors, development partners, and local government stakeholders, setting the tone for a phased rollout of the markets across the country.
Source: Chantal Aidoo
(Public Relations Unit MLGCRA)