Presidential Advisor on the government’s 24-Hour Economy, Goosie Tanoh, has clarified that the policy is intended to incentivise businesses to expand production voluntarily rather than compel them to operate continuously.
In an interview with the Ghana Broadcasting Corporation, Mr Tanoh explained that the government’s strategy is centred on creating favourable economic conditions that enable firms to scale up operations, attract investment, and generate employment.
According to him, the effectiveness of the 24-Hour Economy policy will depend on enhanced productivity, expanded industrial capacity, and a robust business environment that makes growth financially sustainable.
“If an economy is operating at full capacity, nobody is going to tell industry to do shifts. Do you understand? It is a function of capacity; it is a function of the investment regime and the incentive regime that allows companies to take the decision,” he stated.
Mr Tanoh emphasised that businesses are driven by economic fundamentals rather than directives, noting that decisions to introduce additional shifts are typically informed by cost-benefit considerations.
“Companies operate on the marginal. If the marginal cost of hiring more people and producing the next unit of output is less than the marginal revenue, they are not going to do it. So you can’t force anybody to do 1-3-3. What you need to do is to create an incentive and the environment that allows them to do that,” he explained.
He stressed that the policy is not about coercion but about strengthening the incentive framework to support private-sector growth and stimulate investment across key sectors of the economy.
Mr Tanoh’s remarks follow President John Dramani Mahama’s assent to the 24-Hour Economy Authority Bill on Thursday, February 19. The new legislation establishes the institutional framework to coordinate and oversee the implementation of the policy, which is a flagship programme of the National Democratic Congress (NDC) administration.
The government maintains that the initiative will boost productivity, expand exports, and create jobs by encouraging industries, logistics operators, and service providers to extend operations beyond traditional working hours.
