Agbana Breaks Silence On 24-Hour Economy & Mahama’s US$10bn New Economy Agenda

According to a report by Citi FM, on Sunday November 15, 2026, the Member of Parliament for Ketu North, Edem Agbana, has clarified the differences between the government’s 24-hour economy policy and its newly introduced New Economy agenda, insisting that the two initiatives are separate programmes with different objectives and funding arrangements.

According to him, while the 24-hour economy policy is primarily driven by private sector investment, the New Economy programme is a government-led initiative backed by a planned US$10 billion investment over the next four years.

Speaking on The Big Issue on Saturday, November 14, Mr Agbana dismissed suggestions that the introduction of the New Economy agenda was an indication that the government’s flagship 24-hour economy policy had failed to deliver its intended results.

He explained that the two policies were designed to address different aspects of Ghana’s economic transformation and should not be interpreted as competing initiatives or a rebranding of an existing government programme.

Mr Agbana maintained that the 24-hour economy policy was established to encourage private businesses to extend their operating hours, expand production and increase their contribution to the country’s economic development.

He disclosed that the initiative is expected to attract approximately US$4 billion in private sector investment within four years, adding that some companies already enrolled in the programme have started expanding their operations.

“The 24-hour economy is essentially private sector-led. And as we speak, we have firms that are enrolled on the programme, and they are expanding,” he stated.

He further explained that the government’s responsibility under the policy was to create an enabling environment that would encourage businesses to operate beyond the traditional working hours while generating employment opportunities and stimulating economic activities.

In contrast, the Ketu North legislator described the New Economy agenda as a much broader public sector investment programme, with government taking the leading role in mobilising resources to transform key sectors of the economy.

“The New Economy is a wholly public sector, government-led US$10 billion injection into the economy on eight pillars,” he said.

The New Economy initiative, announced by Finance Minister Dr Cassiel Ato Forson, is intended to strengthen domestic production, promote the processing of locally available raw materials, create employment opportunities and reduce Ghana’s dependence on imported goods.

Its first pillar focuses on consolidating the country’s economic recovery through measures aimed at maintaining single-digit inflation, keeping public debt at approximately 45 per cent of Gross Domestic Product (GDP), sustaining a primary budget surplus of at least 0.5 per cent of GDP and strengthening the country’s foreign reserves.

Mr Agbana’s clarification comes amid public discussions about the government’s economic programmes and questions surrounding how the 24-hour economy policy relates to the newly announced US$10 billion New Economy agenda.

He, however, maintained that both initiatives are important to the government’s broader development agenda, stressing that the distinction between private sector-led investment and direct government-funded interventions must be properly understood.

His comments are expected to provide further clarity on the government’s economic direction and its plans to encourage private investment while using public resources to accelerate Ghana’s industrialisation and economic transformation.

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