Ghana modernizes traditional markets via 24-Hour Economy Initiative

Ghana is implementing the 24-Hour Economy Markets Initiative to modernize its traditional markets, which are vital economic hubs spread across 16 administrative regions and 261 districts. These open-air markets, such as Makola in Accra and Kejetia in Kumasi, serve as essential centers for food and agricultural produce distribution.

Traditional markets play a massive role in the national economy, accounting for approximately 60 per cent of total retail sales. Historical estimates from the World Bank and the United States Department of Agriculture’s Foreign Agricultural Service suggest an average annual turnover of approximately US$4 million per location. These markets support livelihoods for traders, porters, and drivers, while also contributing significantly to women’s economic empowerment.