Ahmed Ibrahim, the Minister for Local Government, Chieftaincy and Religious Affairs, says the Ministry intends to pilot 24-Hour Economy market centres in the respective Metropolises, Municipalities and Districts to boost the local economy.
He said the Ministry would collaborate with Regional Coordinating Councils (RCCs), Metropolitan, Municipal and District Assemblies (MMDAs) to pilot the market centres with provision for Women Development Bank.
“We are creating the policy environment, providing security infrastructure, and working with RCCs and MMDAs to pilot 24-hour market centres with provision for Women Development Bank,” he said.
Mr. Ibrahim said this when he delivered a keynote address at the opening of a two-day private sector forum on investment opportunities and access to finance for women and youth entrepreneurs in Bolgatanga.
The forum was on the theme: “Enhancing Social Cohesion and Social Contract Through Empowerment of Women and Youth in Three Northern Regions of Ghana”.
It was organised by the National Development Planning Commission (NDPC) in partnership with the United Nations Development Programme (UNDP) and the United Nations Population Fund (UNPF).
The NDPC developed an investment strategy toolkit to assist eight Districts across the Upper East, North East and Upper West Regions to identify their comparative advantage and develop targeted strategies to attract investment and enhance domestic revenue mobilisation.
As part of the ongoing implementation of the strategy, a series of private sector investment opportunities for a period will be held in the regional capitals of the three regions, with a focus on the participating districts.
For the Upper East Region, the Garu, Bawku West and Bongo Districts are the beneficiaries.
The objective of these fora was to strengthen collaboration among private sector actors, philanthropic organisations, local government authorities, women and youth groups, aimed at unlocking investment opportunities and promoting local economic development.
Mr. Ibrahim said the 24-Hour Economy initiative by the Mahama-led-government, envisioned a round-the-clock productive Ghana.
“In practical terms, this means shift systems in factories, extended market hours, and nighttime public services,” he explained.
He called on Metropolitan, Municipal and District Chief Executives to pay critical attention to the 24-Hour Economy initiative, noting that “The 24-Hour Economy is a reality and should be a game-changer.”
The Sector Minister further explained that with the 24-Hour Economy Market, MMDAs would plan the markets in city centres, and indicated that the markets would run 24-hour pharmacies, police and fire stations, health posts, fuel stations, among others.
He said the market centres would be well lit with solar-powered energy for business activities at night to boost the local economy, “This is what President Mahama is bringing,” he added.
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