The government’s rollout of 24-hour markets could undermine the broader objectives of the 24-hour economy if domestic production is not expanded alongside the development of new market infrastructure, the Centre for Policy Scrutiny has cautioned.
The Centre’s Executive Director, Dr Adu Owusu Sarkodie, said the government’s focus should be on ensuring that Ghana produces enough goods to supply the markets before significantly expanding trading infrastructure.
He argued that the 24-hour economy was designed as a productivity-driven programme aimed at increasing domestic production, boosting exports and reducing Ghana’s dependence on imported goods.
According to him, establishing markets without a corresponding increase in local production could create a situation where imported commodities dominate the new trading spaces.
“Why would one establish 24-hour markets to sell imported commodities?” he asked, questioning the rationale for creating markets before the production capacity needed to supply them had been sufficiently developed.
Dr Sarkodie said there was a potential disconnect between the broader economic transformation objectives of the 24-hour economy and the current emphasis on market development.
His comments come amid concerns from some traders over aspects of the proposed 24-hour market rollout.
Market women in Ashaiman, for instance, have protested proposed redevelopment plans over concerns about possible displacement and the impact on their livelihoods.
In Sunyani, some traders have raised questions about relocation arrangements, while traders in Dzodze have expressed uncertainty over whether consumers would patronise markets operating at night.
Dr Sarkodie said these practical concerns should be considered as government advances the programme to ensure that the initiative delivers the intended economic benefits.
He also urged government to pay greater attention to what he described as the proposed Volta Economic Corridor, which he considers one of the potentially transformative components of the wider economic policy agenda.
Reflecting on the Centre’s assessment of the 287-page policy document, he said government should ensure that the proposed corridor was successfully implemented even if other aspects of the programme encountered difficulties.
“Even if the government fails at all, they should not fail to get this Volta Economic Corridor,” he said.
Dr Sarkodie described the corridor as a “brilliant idea”, arguing that its potential to connect Ghana’s southern and northern economies could contribute significantly to national economic integration.
He therefore called for a balanced approach to the 24-hour economy, with investments in production, value chains, infrastructure and markets progressing together rather than allowing one component to move ahead of the others.
