Reliable electricity, business incentives and access to ready markets will be critical to translating Ghana’s 24-hour economy policy into sustainable employment, particularly for young people, Cape Coast South Member of Parliament George Kweku Ricketts-Hagan has said.
He said the government must now move beyond laying the foundations for the initiative and concentrate on creating the conditions necessary for businesses to expand production, operate longer hours and generate jobs.
Mr Ricketts-Hagan, who chairs the Board of the Ghana Revenue Authority (GRA) and is a former Deputy Finance Minister, made the remarks in an interview with the Ghana News Agency on the sidelines of the recently concluded International Monetary Fund (IMF) and World Bank Group annual meetings in Bangkok, Thailand.
He explained that although the 24-hour economy policy was a long-term undertaking, its success would depend on careful planning and effective implementation.
“We probably did not comprehend the enormity of the initiative, but it’s not something that’s supposed to be short-term. It’s long-term, so it has to be planned properly. What the 24-hour Economy Secretariat has done is that they’ve put the building blocks in,” he said.
The policy, launched in July 2025, seeks to increase productivity, promote industrialisation, strengthen export-led growth and create employment by encouraging businesses to operate beyond conventional working hours.
Mr Ricketts-Hagan said businesses needed dependable electricity to sustain extended operations, warning that incentives such as tax reductions would have limited impact if companies could not rely on a stable power supply.
He also identified access to markets for goods and services as an important requirement, saying businesses needed to be confident that increased production would translate into sales and commercial returns.
His comments come amid concerns from some economic observers about the proposed three-shift system under the policy, with calls for a phased implementation approach supported by annual budgetary allocations.
Mr Ricketts-Hagan said the government should focus on building on the groundwork already established by the 24-hour Economy Secretariat to ensure that the initiative delivered its intended economic and employment benefits.
On the broader challenge of youth unemployment, he expressed optimism about the proposed US$10 billion New Economy policy, expected to be introduced in 2027.
He said the framework was expected to build on existing economic reforms and channel government expenditure towards sectors capable of stimulating targeted economic growth and creating sustainable jobs.
“I do not want to pre-empt the Finance Minister, but the New Economy will build on existing reforms and focus on growing the economy in a manner that creates sustainable employment,” he said.
Mr Ricketts-Hagan’s remarks highlight the importance of addressing infrastructure, investment incentives and market access as the government seeks to translate its economic policy ambitions into employment opportunities for Ghana’s growing youth population.
