24-hour economy policy will boost Ghana’s GDP — Professor Lord Mensah

Professor Lord Mensah, Economist

Professor Lord Mensah, an economist at the University of Ghana Business School, has lauded NDC flagbearer John Mahama's 24-hour economy policy, stating that it will help boost Ghana's Gross Domestic Product(GDP).

According to Prof. Mensah, who spoke on Accra-based JoyNews’ AM Show on Tuesday, August 13, extending operating hours to 24 hours will allow existing structures to add more jobs which will positively impact economic output.

He said “Having extended hours going into 24 hours tells me that you can add on to the GDP that we have. From where I sit, if you are going to have existing structures that can operate 24 hours then add on more jobs, obviously that would be something I would go all out for.”

The economist gave the example of Ridge Hospital which only operates 8 to 12 hours daily, saying the facility could create more jobs and improve economic output if operations were extended to 24 hours.

Prof. Mensah added that “it shouldn't be a policy that would be owned by the government... I think it's a policy that will help the economy.”

Former President John Mahama reiterated the 24-hour economy policy at the launch of the NDC's youth manifesto at UPSA in Accra on Monday.

In his address, Mahama promised to implement the policy to generate more jobs and address Ghana's high youth unemployment rate of over 21%.

He explained that the policy would enable one job to be shared across three shifts, employing three people instead of one.

As part of the policy, the opposition leader has pledged to incentivize both the public and private sectors to operate 24 hours in areas like transportation, manufacturing and financial services.