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24-hour-economy will position Ghana as attractive investment destination – Forensic Psychiatrist

Mr John Kuuku Dsane, a retired Forensic Psychiatry Specialist, who worked in the United Kingdom, said Ghana can rake in more revenue, annually, by instituting the 24-hour-economy for growth advancement.

He said the country could take advantage of that economic policy to position herself as an attractive destination for investment, fostering economic growth, creating job opportunities, and contributing to the development of the retail sector.

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

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

‘By adopting a holistic approach and implementing supportive policies and infrastructure, Ghana could unlock its full economic potential and i
mprove the well-being of the citizenry.’

He outlined the key reasons and benefits of transitioning to a 24-hour system of work and suggested strategies for its successful implementation to encourage businesses to operate ’24-seven’.

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.

Others are to provide training to equip the workforce with the skills required to make a 24-hour working system thrive, ensuring a seamless transition and maximizing the benefits of extended working hours.

Mr Dsane stressed on public awareness campaigns to educate citizens about the benefits while addressing concerns or misconceptions about the policy.

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 c
ontinuous 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.’

Source: Ghana News Agency