Dr. Bernard Okoe Boye has expressed that a 24-hour economy is a consequence of modernization.
He clarified that while the policy currently exists at a small scale within the economy, he is not opposed to the idea.
However, he called for more details to increase confidence in the practicality of the policy.
“Modernization always comes with all the activities of a 24-hour economy as a by-product or an aftermath. So it is the details that will bring confidence to the practicality of the proposal being made. But I have already reminded you that there is some amount of 24 hours in most economies, including Ghana.”
Dr. Bernard Okoe Boye
Nevertheless, he appended that as every government policy aims to enhance the percentage, each government should aspire to improve it further. “I am not someone who will assert that it is unattainable. I don’t operate in that domain”, he added.
He elaborated that the success of 24-hour economies is not solely attributed to the extended working hours but primarily hinges on the substantial demand for the products they engage in. According to him, both demand and heightened efficiency are imperative to realize a 24-hour economy.
However, he underscored that certain segments of the economy currently operate around the clock.
“Before Nana Addo Dankwa became president, there were sectors of the economy that ran 24 hours. No international airport runs for 12 hours. The harbor, it is not when you go there, at eight all of them go home. When you enter, even if they have closed the main gate, when you enter, containers are moving here and there. Some places run 24 hours because of the demand and the kind of things that pass through the harbor.
“The service goes on because the demand is there. Takoradi, if you check with those who do import, the activities that go on in Takoradi do not match Tema, so the day, their demand will reach Tema, if we are doing 12 hours, they will start doing 24 hours.”
Dr. Bernard Okoe Boye
Digitalization Put Up In NPP’s Defence
Additionally, Dr. Okoe Boye emphasized the endeavors of the Vice President, Dr. Bawumia, in advancing the digitization agenda, enabling a 24-hour online service that keeps businesses operational even when proprietors are not actively present. According to him, this facilitates business continuity around the clock even in the absence of physical personnel.
“I have a friend, who wanted to travel and the friend wanted some products. I wanted to send my guys to go and bring the products but he prompted me that to go online. When I checked online, all the products had been advertised. That was around 10 pm last night.
“Just a few steps and my contact, all the products were delivered this morning at 8. The owners were asleep but the IT infrastructure we invested into has allowed for business to go on.”
Bernard Okoe Boye
He also dispelled the idea that the 24-hour economy automatically solves unemployment.
“On the surface, it looks like a wonderful idea but an economist will bring your mind to something like the wage bill and show you that if you are coming in the night, what you raise as revenue must be able to shoulder that wage bill because the wage bill will be twice. Because if the evening service will not come and double what you are getting, you have to be careful not to employ the same set again.”
Dr. Bernard Okoe Boye
“It is noble, the intent is noble”, he however admitted.
Sammy Gyamfi replied to the unemployment argument, stating that the staffing numbers don’t necessarily have to be uniform across all shifts. He clarified that the shifts can adjust the number of staff proportionally based on the workload and output.
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