24-Hour economy policy voluntary, not mandatory – Goosie Tanoh

Presidential Advisor on the government’s 24-Hour Economy, Goosie Tanoh, has explained that the policy is designed to allow businesses to expand and operate at their own pace. He stressed that the initiative is not intended to impose compulsory round-the-clock work schedules on companies.

In an interview with the Ghana Broadcasting Corporation, Mr. Tanoh explained that the government’s strategy centers on strengthening the economic environment so that companies can scale up production, attract investment, and generate employment based on sound commercial decisions.

He noted that the effectiveness of the 24-Hour Economy initiative will depend largely on higher productivity, expanded industrial capacity, and a competitive business climate that makes growth financially sustainable. According to him, businesses naturally introduce additional work shifts when they are operating efficiently and identify clear economic advantages in doing so. The policy, he stressed, is therefore structured around incentives and improved conditions rather than directives.

“If an economy is operating at full capacity, nobody is going to tell industry to do shifts. Do you understand? It is a function of capacity, it is a function of the investment regime and the incentive regime that allows companies to take the decision.

“Companies operate on the marginal. If the marginal cost of hiring more people and producing the next unit of output is less than the marginal revenue, they are not going to do it. So you can’t force anybody to do 1-3-3. What you need to do is to create an incentive and the environment that allows them to do that.”

Mr Tanoh’s remarks follow President John Dramani Mahama’s assent to the 24-Hour Economy Authority Bill on Thursday, February 19. The new law provides the institutional structure required to coordinate and oversee implementation of the policy, which forms a central pillar of the National Democratic Congress (NDC) administration’s economic agenda.

Government officials maintain that the initiative is designed to stimulate industrial growth, strengthen export capacity, and create employment opportunities by encouraging sectors such as manufacturing, logistics, and services to extend operational hours where commercially viable.

The establishment of the authority marks a significant step toward operationalising the programme, with policymakers positioning it as a long-term framework aimed at enhancing productivity and deepening private-sector participation in Ghana’s economic expansion.