24-Hour Economy at Risk without Fiscal Discipline and Policy Continuity – Joe Jackson Warns
By Praisebell Rosemond Larbi
As Ghana advances plans to operationalise its proposed 24-hour economy, concerns are mounting over whether the vision can be sustained without firm fiscal discipline and consistent policy direction across political cycles.
The Chief Executive Officer of Dalex Finance, Joe Jackson, has cautioned that structural inefficiencies, weak governance frameworks, and policy discontinuity could derail the initiative if macroeconomic stability is not preserved.
Speaking at the Business School Week of Wisconsin International University College, Mr. Jackson stressed that Ghana’s anticipated exit from the International Monetary Fund (IMF) programme later this year presents both opportunity and risk. He warned that the fiscal restraint and monetary discipline that contributed to declining interest rates and relative currency stability could quickly unravel if not carefully maintained.
“The issue is not ambition, but alignment and continuity,” he noted. According to him, successive governments must ensure that long-term economic policies are shielded from partisan disruptions to guarantee sustainable implementation.
Highlighting structural bottlenecks, Mr. Jackson cited logistics inefficiencies as a major constraint. He revealed that Ghana spends nearly 60 times more than the global average on transportation, significantly inflating production costs. Studies, he said, show that over 60 percent of the cost of certain locally produced goods, including beverages, is attributable to logistics challenges. Without improvements in transport infrastructure and supply chain coordination, agricultural and industrial outputs risk losing competitiveness.
On financing, he pointed to limited access to local capital as another critical hurdle. Ghana’s pension funds, currently exceeding GH₵60 billion, remain largely inaccessible to private sector investment due to regulatory constraints. Unlocking these funds responsibly, he argued, could provide the capital base needed to drive round-the-clock economic activity.
Governance and institutional reform also featured prominently in his remarks. Mr. Jackson criticized over-centralisation and political interference within public institutions, noting that inefficiencies in key utilities such as Ghana Grid Company Limited and Electricity Company of Ghana continue to inflate operational costs and weaken investor confidence.
He welcomed public-private partnership initiatives but stressed that they must be structured with ring-fenced governance and clear accountability mechanisms to avoid repeating past missteps seen in state-linked financial institutions. Despite the challenges, Mr. Jackson maintained that opportunities remain abundant in industry, transport, and finance. However, he concluded that the success of Ghana’s 24-hour economy will ultimately depend on disciplined fiscal management, strong governance, and the effective mobilisation of domestic capital
