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The Centre for International Maritime Affairs, Ghana (CIMAG)\u202fhas indicated that even though the National Democratic Congress (NDC) 24-hour economy proposal is laudable, it must be hinged on strategic planning, investment, and collaboration between the public and private sectors. <\/p>\n
CIMAG noted that with the right policies in place, Ghana could position itself as a leading economy in West Africa, leveraging the advantages of continuous business operations to drive long-term growth and resilience. <\/p>\n
Mr Albert Derrick Fiatui and Dr David King Boison, the Executive Director and Senior Research Fellow of CIMAG, respectively, analysing the viability of the 24-hour economy initiative, told the Ghana News Agency that the move could unlock new opportunities for job creation, productivity, and enhanced infrastructure utilisation, which are all crucial in addressing unemployment, inadequate infrastructure, and the country\u2019s over-reliance on commodity exports. <\/p>\n
Dr. Boison, who is also the Lead Consultant for Vanuatu Trade Commission-Ghana on AI Africa and AKL Project, explained that Ghana\u2019s economy has been plagued by structural issues since independence, including its dependency on cocoa, gold, and oil exports, which expose the country to global price fluctuations. <\/p>\n
He stated that Ghana\u2019s current economic model limits growth and makes it\u202fvulnerable to external shocks,\u202fadding that extending business operations into the night could reduce bottlenecks and help diversify the economy. <\/p>\n
He added that historically, Ghana has struggled with unemployment and underemployment, particularly among the youth; therefore, a 24-hour economy could create thousands of new jobs, especially in sectors such as retail, hospitality, transportation, and manufacturing. <\/p>\n
He indicated that by operating multiple shifts, businesses could employ more workers, easing the pressure on the labour market, as a 24-hour economy could help Ghana maximise its infrastructure and resources, improving productivity across the board. <\/p>\n
\u201cBy keeping these facilities open, Ghana could spread out economic activity and reduce bottlenecks, such as the heavy traffic congestion seen during morning and evening rush hours in Accra and other major cities. Manufacturing plants could also operate in multiple shifts, boosting output and potentially driving down the cost of production through economies of scale.\u201d <\/p>\n
Dr Boison added it would also benefit Ghana\u2019s tourism and hospitality sectors, as Ghana has the potential for better energy management as businesses operating during off-peak hours would help spread the strain on the national grid evenly throughout the day and improve public services significantly. <\/p>\n
Mr Fiatui, also a maritime policy and ocean governance expert, touched on the pre-conditions for a successful 24-hour economy implementation, highlighting that it requires a robust security framework to ensure the safety of businesses and individuals, particularly at night. <\/p>\n
He added that adequate infrastructure is also essential for the smooth operation of a 24-hour economy, which includes reliable transportation systems, efficient power supply, and well-maintained roads and public services. <\/p>\n
\u201cGhana faces significant infrastructure challenges, particularly in transportation and energy. Before transitioning to a 24-hour economy, the government must invest in upgrading road networks, expanding public transport services, and ensuring a consistent power supply to support businesses and industries.\u201d <\/p>\n
He also called for a cultural shift in how businesses and individuals perceive work and leisure time, stating that \u201cin Ghana, the traditional 9-to-5 workday is deeply ingrained, and many businesses may be reluctant to adopt extended hours due to concerns about profitability and demand. Moreover, employees may be resistant to working night shifts, which could disrupt their work-life balance.\u201d <\/p>\n
Mr Fiatui said to address these concerns, businesses would need to offer incentives for night shifts, such as higher wages or additional benefits, while public awareness campaigns could also help shift cultural attitudes toward accepting night-time work and leisure activities as part of everyday life. <\/p>\n
He further stated that operating a 24-hour economy requires significant adjustments in the labour\u202fmarket, as labour laws and regulations must be\u202fadapted to accommodate extended working hours, particularly regarding night shifts. <\/p>\n
He reiterated that for the initiative to work, Ghana must have a strategic plan, looking at the examples of New York, Dubai, and Johannesburg, who are known to be successful in 24-hour operations in different sectors of their economies. <\/p>\n
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