Bright

Ghana’s 24-Hour Economy: Bold Vision or Unfinished Plan?

3 days ago
698

The Government of Ghana has unveiled an ambitious policy to usher in a 24-hour economy, aiming to supercharge productivity, reduce unemployment, and boost national output by keeping economic activities running round the clock.

The concept is straightforward: structure jobs in shifts—like the health sector does—so businesses can operate continuously without necessarily expanding infrastructure. Sectors such as manufacturing, logistics, retail, transportation, and hospitality are seen as ripe for this transformation.

But while the policy has been praised for its job-creation potential, critics argue that it leans heavily on the supply side—expanding operations and employment—while largely overlooking the demand side: the consumer.

At the heart of any economy is the customer. A business that runs all night means little if there aren’t enough people needing its services during those hours. Will shoppers visit stores at midnight? Is there real demand for transportation at 3 a.m.? Can restaurants and entertainment spots attract steady night-time patronage? These are the kinds of questions that remain unanswered.

Some supporters of the policy suggest the 24-hour economy could be export-driven, particularly in manufacturing. However, this assumes Ghana has the capacity to compete globally in terms of pricing, quality, and logistics—advantages that require careful strategy, not assumption.

This brings the policy’s focus into question: Who exactly is the target customer of the 24-hour economy? Is it the local population adapting to new lifestyles and working patterns, or is the goal to tap into global markets? Without clearly defining the customer base, businesses may struggle to align services with real demand, and the government risks misdirecting resources.

To bridge this gap, experts are calling for a more evidence-based approach. Key recommendations include:

  • Conducting in-depth market research to assess consumer behavior during non-traditional hours—considering demographics, lifestyle trends, and regional variations.

  • Involving marketing and business development professionals to help businesses create service models tailored to night-time consumers, supported by strategic pricing, promotions, and customer engagement.

  • Investing in infrastructure like lighting, security, and public transport to make night-time economic activity safe and viable.

  • Supporting businesses with operational planning, including workforce management, energy usage, staff welfare, and technological upgrades to facilitate 24/7 operations.

Critically, worker rights must not be sidelined. Fair pay, safety, and social protections will be essential to ensuring that the benefits of a 24-hour economy are widely and equitably shared.

In summary, Ghana’s 24-hour economy initiative holds transformative potential—but to succeed, it must look beyond job creation. A deeper understanding of consumer demand, combined with business innovation and strong policy backing, will be vital in turning this bold vision into a sustainable reality.

0
0

Bright
200 followers

You can follow
Getting things done.

Find other stories on Ghanabook

Share your ideas with millions of readers. Post or Write on Ghanabook


Footer
(c) 2022 Ghanabook.com | All rights reserved