Franklin Cudjoe, the CEO of the Imani Centre for idea and Education, has questioned why the 2025 Budget Statement and Economic Policy lacks a clear implementation plan for the much-discussed 24-hour economy idea.
After Finance Minister Dr. Cassiel Ato Forson presented the budget to Parliament, Mr. Cudjoe spoke on Asempa FM on March 11, 2025. He acknowledged that the budget was clearly laid out and easy to understand, but he expressed doubts about its ability to address Ghana’s economic problems, especially unemployment.
“The budget was straightforward, well-presented, and without unnecessary jargon. But when you examine the details, especially on job creation, the interventions seem too modest to make a real impact on unemployment,” he stated.
Mr. Cudjoe bemoaned the absence of specific information about the 24-hour economy, which was supposed to be a major component of the Mahama administration’s strategy for economic recovery.
“The President and his government have spoken about the 24-hour economy, but there is little in the budget that explains how it will work. We were expecting clear policy guidelines, funding commitments, and incentives for businesses, but what we got instead is a promise that a document will be released later,” he said.
He cautioned that companies would find it difficult to switch to a 24-hour operational model in the absence of clear policies and incentives, which would reduce the initiative’s impact.
In addition to the 24-hour economy, Mr. Cudjoe questioned the efficacy of the government’s employment programs, such as the National Apprenticeship Program, the Women’s Development Bank, and the Ghana Labour Export Program.
“These are not necessarily bad policies, but they are modest. They are unlikely to make a major impact on the unemployment crisis we face. If we are serious about job creation, we need bigger, well-funded interventions,” he argued.
He emphasized that although organized labor migration can provide short-term respite, Ghana’s long-term solution needs to be based on the growth of its own industry and an atmosphere that is conducive to business.
Mr. Cudjoe also discussed the government’s new social initiatives, which include raising the budget for school meals, providing free sanitary pads to schoolgirls, and providing free postsecondary education to those with impairments. Although he praised these, he questioned if they could be sustained financially.
“These interventions are tangible and easy to track, but the real question is: where is the money coming from? The government says it is not raising taxes, but are we cutting enough waste to sustain these policies?” he asked.
He called on the government to establish an open financial system to prevent these social programs from failing because of a lack of funds.
