Presidential Advisor on the government’s 24-Hour Economy initiative, Goosie Tanoh, has underscored that the policy is designed to incentivise business expansion rather than compel companies to operate around the clock.
Speaking in an interview with Ghana Broadcasting Corporation (GBC), Mr Tanoh explained that the strategy hinges on creating favourable macroeconomic and investment conditions that make extended production commercially viable. He stressed that decisions to introduce additional shifts or scale output would ultimately depend on profitability and industrial capacity.
According to him, productivity growth, improved industrial infrastructure and a supportive incentive regime are central to the policy’s implementation. He maintained that businesses respond to economic logic, particularly the relationship between marginal cost and marginal revenue, and cannot be mandated to expand operations without viable returns.
His remarks come after John Dramani Mahama assented to the 24-Hour Economy Authority Bill on February 19, formally establishing the institutional framework for the programme.
The legislation is intended to coordinate nationwide implementation of the flagship policy, which government officials say will enhance productivity, stimulate exports and create employment opportunities by encouraging industries and service providers to extend operations beyond traditional working hours.