Phalonzy

President John Dramani Mahama has instituted a stringent performance-based procurement directive for the government’s 24-Hour Economy Market projects nationwide, mandating that contractors must achieve substantial completion before any disbursement of state funds.

The President articulated that the policy shift is designed to entrench fiscal accountability and eradicate the perennial challenge of project delays and abandonment. He observed that advance payments in the past had, in several instances, precipitated misappropriation and non-delivery.

Speaking to chiefs and residents of Assin Bereku in the Assin North District during a sod-cutting ceremony for the flagship 24-Hour Economy Market, as part of his two-day working tour of the Central Region, President Mahama reaffirmed the initiative as a cornerstone of his administration’s economic transformation agenda.

"Our commitment to the 24-hour economy is non-negotiable. It remains one of the flagship pledges for which Ghanaians entrusted us with the mandate, and we shall implement it fully, without compromise," the President declared.

He noted that the rollout of modern, round-the-clock markets under the initiative is projected to generate sustainable employment, catalyze local enterprise, and accelerate broader economic growth.

In a decisive break from prior practice, President Mahama announced that contractors would henceforth be required to demonstrate verifiable progress and attain completion thresholds before government releases funds.

"This time, the era of payment before performance is over. Contractors must first prove progress on the ground and complete the assigned works before the state obligates a single cedi," he stated.

The President attributed the reform to historical precedents where allocated resources were diverted, resulting in stalled or abandoned infrastructure.

"Past experiences revealed a troubling pattern: funds meant for national development were redirected for private gain, leaving behind incomplete structures and unfulfilled promises. That cycle ends now," he asserted.

He further assured that, despite the fiscal constraints inherited by his administration, government remains resolute in executing the 24-hour economy policy as a lever for national development and livelihood enhancement.

Meanwhile, the Paramount Chief of the Owirenkyi Traditional Area, Ahunabobrim Nana Prah Agyensaim VI, extolled the President for the bold introduction of the 24-hour economy framework.

The traditional ruler conceded that the policy may provoke dissent among certain quarters, but expressed conviction in its transformative potential.

"Though this policy may attract criticism, I believe it possesses the capacity to recalibrate Ghana’s economy and forge sustainable employment for our youth," Nana Prah Agyensaim VI remarked.

He urged the President to remain steadfast in the face of opposition, emphasizing that the initiative’s success hinges on collective national ownership.

"Mr. President, do not be dissuaded by detractors. Just as Ghanaians rally behind the Black Stars with one spirit, let us rally behind the 24-hour economy with the same unity for the prosperity of our nation," he charged.

The Paramount Chief officially endorsed the policy and voiced confidence that it would yield significant socio-economic dividends for the country.