“24-Hour Economy: A Game-Changer for Ghana’s Productivity and Job Creation”
"24-Hour Economy: A Game-Changer for Ghana's Productivity and Job Creation"
“24-Hour Economy: A Game-Changer for Ghana’s Productivity and Job Creation”
The implementation of a 24-hour economy in Ghana has the potential to significantly boost productivity and job creation, according to Prof. Michael Kpesaa-Whyte, Acting Director-General of the State Interests and Governance Authority (SIGA). Speaking on the potential impact of the 24-hour economy, Prof. Kpesaa-Whyte emphasized the need for improved transportation systems, including ground, lake, and air transport, to facilitate the movement of goods and services.
The 24-hour economy is expected to open up new opportunities for job creation, particularly for the teeming youth who need jobs to earn a livelihood. According to Prof. Kpesaa-Whyte, the 24-hour economy will enable entities to work beyond the traditional 9-to-5 schedule, allowing for more people to be brought into the labor market.
To track the performance and productivity of specified entities under the 24-hour economy, SIGA will align its performance contracts with clear Key Performance Indicators (KPIs). This will ensure that entities work towards achieving specific goals and targets, and that their performance is measured and evaluated accordingly.
However, Prof. Kpesaa-Whyte noted that implementing the 24-hour economy will require structural and systemic changes, including reviewing the mandates of some entities to align with the new vision. Additionally, SIGA plans to provide training and orientation for CEOs and boards of entities to identify potential pitfalls and loopholes that can lead to financial slippages.
The implementation of a 24-hour economy in Ghana has the potential to significantly boost productivity and job creation. With the right structural and systemic changes in place, Ghana can unlock its potential and provide opportunities for its citizens to earn a livelihood. As SIGA continues to work towards implementing the 24-hour economy, it is expected that the country will see significant improvements in productivity and job creation.
Story by Fada Amakye from Daily Sun online
