Key Considerations for Ghana’s 24-Hour Economy: Advice for the Government

The Ghanaian government’s plan to implement a 24-hour economy presents a great opportunity to boost economic growth, create jobs, and enhance productivity. However, for this initiative to succeed, it must be carefully planned and supported by strong policies and infrastructure.

As Ghana prepares for this transition, several key factors must be considered to ensure sustainability, security, and economic benefits for all stakeholders. This article highlights critical areas that the government must focus on when implementing the 24-hour economy.

1. Stable and Affordable Electricity Supply

A 24-hour economy cannot function without a reliable energy supply. Many businesses in Ghana already struggle with inconsistent power, which could worsen if demand increases without proper planning. The government must:

• Expand renewable energy sources such as solar, wind, and hydropower to complement the national grid.
• Upgrade energy infrastructure to prevent frequent power outages.
• Introduce special electricity tariffs for businesses operating at night to reduce costs and encourage participation.

2. Strengthening Security and Public Safety

Operating businesses and industries 24/7 means that workers and customers will be active at night. Without proper security measures, crime rates could increase, discouraging people from working night shifts. The government should:

• Increase police presence in major cities and business hubs at night.
• Invest in CCTV surveillance and smart security systems to monitor public spaces.
• Enhance street lighting in all major commercial and industrial areas.
• Strengthen labor laws to ensure the safety of night-shift workers, including transportation options for employees working late hours.

3. Efficient Transportation and Infrastructure

For businesses to operate effectively 24/7, Ghana’s transport system must be improved. The government should:

• Introduce 24-hour public transportation services, especially in major cities like Accra, Kumasi, and Takoradi.
• Improve road networks and ensure regular maintenance.
• Expand rail and port operations to facilitate smooth trade and logistics.
• Encourage ride-hailing services to operate at all hours with incentives for night drivers.

4. Workforce Protection and Fair Labor Policies

A successful 24-hour economy depends on a productive and protected workforce. The government must:

• Enforce fair wages for night-shift workers and introduce incentives for businesses offering 24-hour services.
• Implement strict labor laws to prevent worker exploitation.
• Ensure adequate rest periods for employees working in rotating shifts.
• Provide health and safety standards to protect workers from fatigue-related risks.

5. Business Support and Incentives

Many businesses, especially small and medium-sized enterprises (SMEs), may struggle to transition into a 24-hour economy. The government must:

• Offer tax incentives for businesses that adopt 24-hour operations.
• Provide low-interest loans to support businesses adapting to extended hours.
• Encourage industrial zones where companies can operate efficiently with reliable electricity, security, and logistics.
• Support digital transformation to help businesses integrate technology for remote and automated operations.

6. Digital Economy and Financial Services

A cashless and efficient digital economy is essential for a 24-hour system. The government should:

• Ensure all banks and financial institutions operate 24/7.
• Expand mobile money services to allow smooth transactions at all hours.
• Encourage fintech innovations to support businesses in automating payments and transactions.
• Develop digital platforms that enable businesses to operate and communicate seamlessly across different time zones.

7. Public Awareness and Stakeholder Engagement

For the 24-hour economy to succeed, public support and awareness are crucial. The government must:

• Engage labor unions, business owners, and industry leaders to understand their concerns and contributions.
• Educate the public on the benefits and challenges of a 24-hour economy.
• Provide training programs to equip workers with the necessary skills for shift-based employment.
• Encourage public-private partnerships to ensure the economy is built on sustainable business models.

8. Managing Economic and Social Impact

While a 24-hour economy will boost economic growth, it must be balanced with social well-being. The government should:

• Ensure economic benefits are distributed fairly across different sectors and regions.
• Monitor inflation and cost of living to prevent price hikes due to increased demand.
• Address potential health concerns, such as sleep deprivation and work-life balance for night-shift workers.

The Ghanaian government’s push for a 24-hour economy is a bold and promising initiative, but it must be implemented strategically. Success will depend on reliable electricity, improved security, strong labor policies, business incentives, efficient transportation, and digital transformation.

By considering these key factors, the government can ensure that the 24-hour economy is not just an ambitious plan but a sustainable reality that benefits businesses, workers, and the entire nation.