Advancing the economy with a 24-hour services sector

As Ghana approaches the 2024 elections, it’s crucial that we rethink our approach to economic growth and job creation. A visionary strategy for achieving these goals is the development of a 24-hour economy within the services sector.

This proposal, championed by the NDC’s presidential candidate John Mahama, outlines a comprehensive plan to extend service availability, boost economic activity, create jobs, and improve public convenience.

By adopting a 24-hour operational model in key service sectors such as finance, retail, healthcare, and public services, Ghana can unlock significant economic potential and reduce disparities across the country.

Objectives

The primary objectives of the 24-hour economy in the services sector include enhancing service availability, boosting economic productivity, generating employment, improving public convenience, and reducing economic inequality. By extending the operational hours of essential services, citizens and businesses will have uninterrupted access to critical resources, leading to an overall increase in economic activity and improved quality of life.

Key Components

Financial Services

Financial institutions play a pivotal role in any economy. Under the 24-hour economy plan, banks will extend their hours of operation, while online and mobile banking services will be available around the clock. This ensures that individuals and businesses can carry out financial transactions at any time, fostering greater economic activity.

Moreover, Automated Teller Machines (ATMs) will be operational 24/7, providing consistent access to cash in both urban and rural areas. Customer support services will also be available round-the-clock to address any financial inquiries and transactions.

Retail and Hospitality

Retail and hospitality services are at the heart of a thriving economy. Encouraging supermarkets, convenience stores, hotels, and restaurants to operate 24 hours will not only boost economic activity but also enhance consumer convenience. This shift will be supported by promoting 24/7 online shopping platforms, equipped with efficient logistics and delivery systems. By making goods and services available at all hours, businesses can cater to a broader customer base, including tourists, which will ultimately boost the local economy.

Healthcare Services

Healthcare is a critical sector that requires continuous operation to ensure public health and safety. The proposal includes ensuring that clinics, pharmacies, and emergency medical services are operational 24/7. Expanding telemedicine services will provide round-the-clock access to medical consultations, particularly benefiting those in remote areas. Strengthening emergency response systems will ensure that life-saving services are available at all times, improving public health outcomes.

Utilities and Public Services

The continuous operation of utilities such as electricity, water, and gas are essential for a 24-hour economy. Ensuring the availability of these services will support both businesses and households, reducing downtime and improving productivity. Public services such as registration offices and government service centres will extend their operating hours, reducing wait times and improving service delivery for citizens. Additionally, waste management systems will be upgraded to operate round-the-clock, ensuring a cleaner and healthier environment.

Education and Training

A well-educated and skilled workforce is crucial for the success of a 24-hour economy. Promoting 24/7 access to online educational resources and e-learning platforms will enable continuous learning and skill development. Vocational training and skill development programs will be available around the clock, ensuring that workers are prepared for the demands of a modern economy. Libraries and study centres will also operate 24/7, supporting students and researchers in their educational pursuits.

Security and Safety

Maintaining public safety is paramount in a 24-hour economy. Law enforcement agencies will operate continuously to ensure that citizens and businesses are safe at all times. Fire and rescue services will also be strengthened to respond effectively to emergencies. Advanced surveillance systems will be implemented to monitor public spaces and deter crime, thereby improving public confidence and safety.

Job Creation

The implementation of a 24-hour economy in Ghana’s services sector is poised to be a significant catalyst for job creation across various industries. By extending service hours and ensuring continuous operations, the demand for a larger workforce will naturally increase, leading to the creation of numerous job opportunities. In the financial services sector, for instance, extended banking hours will require additional staff for customer service and technical support. Similarly, the retail and hospitality industries will need more employees to manage the night shifts in supermarkets, hotels, and restaurants.

The healthcare sector will also see an uptick in the demand for emergency responders, caregivers, and telemedicine professionals to ensure round-the-clock care.

Additionally, the continuous operation of utilities and public services will necessitate more personnel for maintenance, administration, and management roles. By facilitating job creation in these key areas, the 24-hour economy will not only reduce unemployment rates but also contribute to economic growth and improve the livelihoods of many Ghanaians.

Implementation Plan

The successful implementation of a 24-hour economy in the services sector requires a robust infrastructure and technology foundation. Digital platforms will be developed and enhanced to support 24-hour service delivery, while smart systems will enable real-time monitoring and management. Facility upgrades will ensure that physical infrastructure can support extended operating hours.

Workforce management is also a critical component of the implementation plan. Shift work schedules will be introduced to ensure continuous service delivery, with training programs provided to help employees adapt to the new operational model. Incentives will be offered to those working night shifts and extended hours, ensuring that they are adequately compensated for their efforts.

Linking to Relevant Sectors

A 24-hour services sector will have far-reaching impacts across multiple sectors. In the financial sector, continuous service availability will support business operations and economic transactions, particularly for SMEs that require flexible access to capital. The retail and hospitality sectors will see increased economic activity, especially in tourism, while healthcare services will experience improved public health outcomes due to round-the-clock access to medical care.

Utilities and public services will benefit from operational efficiency, reducing downtime and improving service delivery. In education and training, 24-hour access will enable continuous skill development, preparing the workforce for future demands. Finally, enhanced security and safety measures will ensure that public spaces remain safe, deterring crime and improving overall public confidence.

Conclusion

A 24-hour economy in the services sector is a visionary approach to enhancing Ghana’s economic growth and improving the quality of life for its citizens. By extending service availability, boosting economic activity, and creating jobs, this proposal has the potential to transform Ghana’s economy and position it as a leader in the region.

Through collaboration with stakeholders, investment in infrastructure and technology, and the implementation of supportive policies, a 24-hour services sector will drive economic growth, reduce inequality, and ensure that essential services are available to all Ghanaians, at all times.