Ghana can increase revenue through 24-hour economy

MR John Kuuku Dsane, a retired Fo­rensic Psychi­atry specialist, says Ghana can rake in more revenue, annually, by instituting a 24-hour-economy for growth advancement.

He said the country could take advantage of such policy and position itself as an attractive des­tination for investment, to foster economic growth, create job op­portunities, and contribute to the improvement of the retail sector.

MrDsane, now based in Ghana, told the Ghana News Agency, in an interview on Friday that due to the evolving global economic landscape, it was imperative “to consider the adoption of such proposal, to enhance job creation and employment opportunities for the youth.”

“Embracing the 24-hour- economy is a strategic move for Ghana to catalyse economic growth, re­duce unemployment, and enhance global competitiveness,” he said.

DrDsane explained that by adopting a holistic approach and implementing supportive policies and infrastructure projects, Ghana could unlock its full economic po­tential and improve the well-being of the citizenry.

Outlining the key reasons and benefits of the policy, MrDsane, who had worked in the United Kingdom, suggested strategies for its successful implementation, to encourage businesses to operate “24/7”.

These include tax incentives, regulatory reforms, and financial support for businesses making the transition, investment in reliable and efficient infrastructures like transportation, energy and com­munication systems, to support uninterrupted operations.

The expert also advocated training for workers,to equip them­with the necessary skills to make a 24-hour working system thrive, and “ensuring a seamless transition and maximising the benefits of extended working hours.”

MrDsanecalled for public awareness campaign, to educate citizens about the benefits of the 24-hour economy, while addressing its concerns or misconceptions.

He said that seeking collabo­ration with international organisa­tions and countries that had been successful in the implementation of a 24-hour-economy must also be prioritised, he said.

“A continuous economy ac­commodates the diverse lifestyles and preferences of individuals. It also allows for flexible work sched­ules, enabling employees to choose hours that best suit their needs,” MrDsane noted. —GNA

 

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