Consumer advocate Appiah Kusi Adomako has sounded a warning over Ghana’s ambitious 24-Hour Economy (24H+) policy, cautioning that without urgent enactment of competition legislation, the initiative risks falling prey to monopolistic exploitation.
As the West Africa Director of CUTS International, Adomako highlighted that while the eight pillars of the 24H+ plan—covering sectors such as agriculture, manufacturing, and logistics—hold transformative potential, the absence of a robust antitrust framework could allow anti-competitive practices to flourish, ultimately undermining inclusive economic growth.
In a detailed analysis shared with The High Street Journal, Adomako explained, “Competition law targets harmful conduct, not business success. It prevents price-fixing cartels, bid rigging, and abuse of market dominance.” He emphasised that these laws are essential to ensure firms compete fairly on merit rather than through political connections or entrenched interests.
“Without a level playing field, benefits may be captured by dominant players,” he added, expressing concern about possible collusion among large corporations involved in planned agro-parks—referred to locally as “Agbleduwo”—which could marginalise smallholder farmers and stifle competition.
The government’s flagship 24-Hour Economy policy aims to create 1.7 million jobs by 2028 and stimulate rapid economic growth. However, Adomako stressed that achieving these goals requires open, competitive markets that foster innovation and entrepreneurship.
He further noted that a functioning competition regime would also enhance Ghana’s attractiveness to foreign investors and support diversification of exports—critical factors for sustainable development.
Despite the urgency, Ghana’s draft competition bill has languished since 2007, with only recent hints of renewed political commitment signalled in the 2025 national budget. Adomako urged swift legislative action, pointing to Ghana’s obligations under the African Continental Free Trade Area (AfCFTA) and warning that failure to act risks the country falling behind regional peers in regulatory standards.
“The time to enact competition law is now,” he concluded, “to safeguard the promise of the 24-hour economy and ensure benefits are shared fairly across Ghana’s diverse economy.”
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