Will We Survive The 24-Hour Economic Policy? (The Economy That Never Sleeps)

“In the night you want us to go and be farming and then people will come and take our wives away? Upper East Regional Minister.

Imagine having access to the banking service 24/7, police services, factories, restaurants and any sector of the economy available for you 24/7 without a stop? This is what the 24-hour economic policy postulates. The idea of a system where businesses and services run beyond the 9 to 5 working hours, thus, the availability of services in the evenings, night time and early morning. That is what this “most talked of” 24-hour policy is about. This is no new policy, some countries like the UK, USA, China and many countries have adopted it, but the question is, is our economy the same as theirs to consider this economic policy? Will the policy make our economy better? What are the underlying effects of operating the policy? As time approaches for the ballot, a lot of political parties come up with policies and the 24-hour policy is a prevalent one this year. According to a report from Citinewsroom.com, the 24-hour policy driven by the former president of the republic, John Dramani Mahama, will be operating in agriculture, pharmaceutical, and transport sectors among others. This will be achieved by giving tax incentives to countries that ascribe to the policy. This comes from a country whose main revenue source is tax. This raises a big question: Is this risk worth taking or should we maintain the same working environment until the economy gains its feet or stands?

Speaking on Joy News, political Risk analyst Dr Theo Acheampong lauded the former president saying, that the policy if well implemented will create more jobs and in the long run uplift the sinking economy. Aside from the positive outcomes, there have been some clapbacks from the Vice president of the republic, saying the policy will not materialize and the proponent lacks the understanding of the policy. “Today, John Mahama says he has new ideas and that he wants a 24-hour economy, he doesn’t even understand that policy,” the Vice President stated. The most relevant aspect of this theory is to take the perspective of the ordinary Ghanaian and know what they think or understand about the whole policy.

“I believe we are already practising the 24-hour policy through digitalization. The reason for this is that, now we have banking services 24/7 through bank apps and even buy electricity via Mobile Money (MoMo). So, there is no need for this policy to be used as a yardstick for soliciting votes” Agyemang Okyere Darko, an educationalist.

With other people speaking against the policy, some individuals also applauded the initiative saying most issues in the country could be prevented.

“Recently, a child died at the Tema General Hospital because of a power outage, just because the electrician to turn on the power plant was absent. If the 24-hour policy was working, then another person would have been at the post for such a dreadful issue to be avoided. For me, I believe the policy is the end of many problems in the country and it should be implemented as soon as possible. It is the Game changer” Mr Jonathan Kornor, Director of Programs at AAU TV.

Amid all these opinions on the acceptance of the policy, the citizenry must pay close attention to the positive and negative aspects of the policy. Indeed, the policy will create more jobs and boost the economy as has been said by analysts and other key stakeholders in the country, likewise, what is the available risk that the country needs to take? Is the risk worth it for the greater good of the whole country, or will it lead to economic shackles? Will the traditional working hours be a guide to revive the weakling economy or opting for an economy that never sleeps will revive us? Questions that can only be answered when citizens understand the policy.

By Priscilla Amoah,
Email: [email protected]

Student, UNIMAC-IJ.