’24-hour Economy Market Initiative is a step towards economic growth’

Ahmed Ibrahim is the Minister of Local Government, Religion and Chieftaincy Affairs

The government’s 24-hour economy market initiative is aimed at promoting economic activity and improving the overall market experience, Ahmed Ibrahim, Minister of Local Government, Chieftaincy, and Religious Affairs, has said.

The minister said the funding for this initiative will come from the district assemblies’ allocation, with a specific directive to use 25 per cent of their funds for developing these markets.

“We are giving the money to the district assemblies, and we expect them to use 25 per cent of their funds to develop a city central model market,” the minister explained.

Ibrahim made the remarks when he responded to a question on the Floor of Parliament on Thursday.

“Mr Speaker, this is a government project, and we must live up to it,” he urged.

The minister noted that the initiative was part of the government’s efforts to decentralise power and resources to the district level, allowing for more effective and efficient management of local resources.

“Mr Speaker, the 24-Hour Economy market concept is designed to provide a modern and efficient marketplace for traders and customers, incorporating safety features and other amenities to reduce congestion and promote economic activity.

“The development of these markets is expected to have a positive impact on the economy, providing opportunities for traders and customers to engage in economic activities beyond traditional hours,” he said.

Ibrahim added that the initiative also aimed to promote women’s economic empowerment and provide support services for traders.

“Mr Speaker, as the government moves forward with the implementation of this initiative, it is expected that the 24-Hour Economy markets will become a hub for economic activity in Ghana, driving growth and development in the country,” he told Parliament.