As a developing nation, Ghana has made substantial strides in its economic growth and development, and the proposition of a 24-hour economy by former President and the National Democratic Congress (NDC) flagbearer John Mahama has sparked discussions about its feasibility, and the readiness of the country to embark on this vision. While the concept presents promising opportunities for economic advancement, the nation faces several challenges that need addressing to fully embrace and sustain such a transition, if you ask me.
The idea of a 24-hour economy aims to maximize productivity by operating businesses, services, and industries around the clock. It promises increased job creation, improved economic output, and enhanced competitiveness on the global stage. However, for Ghana to successfully transition to this model, certain critical aspects need attention.
Infrastructure development stands as a pivotal factor. Basic infrastructure, including reliable electricity, efficient transportation, and adequate internet connectivity, remains a fundamental requirement for the functioning of a 24-hour economy. Ghana has made progress in enhancing its infrastructure, but there’s still a need for further investment and improvements, particularly in rural areas, to ensure nationwide accessibility.
Another crucial aspect is the need for robust security measures. A 24-hour economy could potentially lead to increased vulnerability to crime if proper security measures are not in place. Enhancing law enforcement, implementing surveillance systems, and ensuring safety protocols are imperative to safeguard businesses and citizens operating during unconventional hours.
Additionally, the workforce’s readiness and adaptability to shift work patterns are crucial. Proper training, flexible work arrangements, and ensuring fair labourr practices become essential to support workers adjusting to non-traditional working hours. Moreover, initiatives to address potential health impacts arising from disrupted circadian rhythms and extended working hours need consideration.
Furthermore, regulatory frameworks and policies must be conducive to a 24-hour economy. Streamlining bureaucratic processes, revising outdated regulations, and creating an enabling environment for businesses to operate seamlessly at all hours is imperative for success. This includes addressing licensing procedures, zoning laws, and taxation policies to accommodate businesses operating around the clock.
While the idea of a 24-hour economy in Ghana holds immense potential for economic growth and development, several factors need consideration and strategic planning. Strengthening infrastructure, ensuring security, supporting the workforce, adapting regulatory frameworks, and addressing societal perceptions are pivotal steps in preparing Ghana for this ambitious transition. With concerted efforts from the government, private sector, and citizens, Ghana can gradually and effectively move towards a thriving 24-hour economy, reaping the associated benefits while mitigating potential challenges.
By: 𝐅𝐫𝐞𝐝𝐞𝐫𝐢𝐜𝐤 𝐀𝐥𝐨𝐫𝐦𝐚𝐬𝐨𝐫
𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐒𝐩𝐞𝐜𝐢𝐚𝐥𝐢𝐬𝐭|| 𝐄𝐝𝐢𝐭𝐨𝐫 || 𝐂𝐨𝐧𝐭𝐞𝐧𝐭 𝐌𝐚𝐧𝐚𝐠𝐞𝐫 || 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭𝐢𝐧𝐠 𝐒𝐩𝐞𝐜𝐢𝐚𝐥𝐢𝐬𝐭