Accra: Parliament has adopted the report for the establishment of the 24-Hour Economy Authority, a move that advances the legislative process aimed at transforming Ghana's productive sector. The Authority is set to act as a coordinating Secretariat, interfacing with Ministries, Departments, and Agencies (MDAs) to drive economic transformation through improved production systems and supply chain management.
According to Ghana News Agency, during the debate on the report's adoption, Mr. Mahama Ayariga, Majority Leader and Member of Parliament for Bawku Central, highlighted that the legislation aims to address the issue of youth unemployment and empower the private sector to lead job creation. He emphasized that the Authority's role is to coordinate efforts across sectors to achieve transformation, rather than functioning as an independent 24-Hour Economy entity.
In contrast, Mr. Kojo Oppong Nkrumah, Ranking Member on the Economy and Development Committee of Parliament and Member of Parliament for Ofoase Ayirebi, voiced significant concerns. He contended that the Authority's establishment would result in a duplication of functions already managed by existing ministries and agencies. He criticized the initiative as redundant and questioned the government's job creation strategy under the 24-Hour Economy plan.
Mr. Oppong Nkrumah further expressed dissatisfaction with the delayed submission of the 24-Hour Economy Policy document to Parliament, urging the Majority Caucus to ensure timely future submissions for thorough evaluation. The report's adoption is a crucial step towards the bill's consideration, which is anticipated to undergo further debate before being enacted into law.
The 24-Hour Economy policy was a key campaign pledge by the then-opposition National Democratic Congress, promising a 'three shifts, one job system' for Ghanaians.