Key points:
- David Ofosu-Dorte sees the 24-hour economy as a productivity strategy, not just a policy
- Stimulating demand is key to making the 24-hour economy effective
- Strategic planning is crucial to avoid political disruptions in implementation
GHANA’S ambitious plan to establish a 24-hour economy has sparked nationwide discussions on its potential to drive economic growth. According to legal and economic expert David Ofosu-Dorte, the policy isn’t just a government initiative but a transformative strategy to address Ghana’s long-standing productivity challenges.
Speaking on CitiFM radio in Accra on Monday, Ofosu-Dorte, a senior partner of AB & David Africa, a pan-Africa business law firm, described the 24-hour economy as ‘a productivity strategy designed to stimulate demand and increase output across all sectors.’ He emphasised that Ghana’s economic growth hinges on enhancing productivity, not just expanding work hours.
‘The 24-hour economy should not be reduced to mere political rhetoric. It’s about creating an environment where businesses can operate around the clock efficiently, which requires strategic planning and strong institutional support,’ Ofosu-Dorte noted.
Stimulating demand: the missing link
Ofosu-Dorte argued that for the 24-hour economy to succeed, the government must focus on stimulating demand. Without sufficient consumer demand, businesses operating beyond traditional hours may struggle to remain profitable.
‘You can’t expect businesses to work 24/7 if there’s no corresponding demand. The government must create incentives that encourage economic activity around the clock,’ he explained.
He highlighted the need for targeted fiscal policies, such as tax breaks for companies operating night shifts and support for industries that can thrive in a 24-hour cycle, like manufacturing, logistics, and digital services.
Avoiding pol
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itical pitfalls
Ofosu-Dorte warned that without a clear strategic framework, the 24-hour economy could fall victim to political cycles, undermining its potential benefits. He stressed that the initiative should transcend partisan interests to ensure sustainability across administrations.
‘The danger is when we treat such transformative policies as election pr
omises rather than national development strategies. We need to anchor the 24-hour economy in Ghana’s long-term economic vision, with clear performance indicators and bipartisan support,’ he said.
A path forward
While challenges remain, Ofosu-Dorte believes that with the right infrastructure investments, regulatory reforms, and stakeholder engagement, Ghana’s 24-hour economy could significantly boost job creation, reduce unemployment, and improve the country’s competitiveness.
‘This is an opportunity for Ghana to reset its economic trajectory. It’s not just about keeping the lights on at night; it’s about driving productivity, innovation, and inclusive growth,’ he added.
As Ghana moves to operationalise the 24-hour economy, the focus must remain on creating a sustainable framework that benefits businesses, workers, and the broader economy.
