Secretary-General of the Ghana Federation of Labour (GFL), Abraham Koomson, has defended the government’s 24-hour economy policy, insisting that it is a structured industrial development strategy rather than a “cooked-up” idea.
He says the policy’s success will depend on Ghana’s ability to rebuild its economy, restore investor confidence and strengthen the productive sector after what he describes as eight years of economic mismanagement under the New Patriotic Party (NPP).
Speaking on Ahotor FM’s Morning Show in Accra, Mr Koomson rejected criticism of the initiative, arguing that its objectives must be understood within the broader context of Ghana’s industrial development and the challenges confronting businesses.
Economic reset needed to revive industries
Mr Koomson argued that the previous NPP administration left businesses struggling with excessive taxes and levies, which he said contributed to the closure of some companies and weakened the country’s industrial capacity.
“The taxes and all the nuisance taxes were killing them, so they had to fold up and go away,” he said.
According to the labour leader, the state of the economy must be considered in discussions about the feasibility of the 24-hour economy, as businesses need a supportive environment to invest, expand production and employ more workers.
He maintained that the current administration must address these underlying challenges before expecting industries to operate continuously and deliver the full benefits of the policy.
Mr Koomson said restoring industrial capacity and creating favourable conditions for investment should therefore form part of the government’s immediate priorities.
Investor confidence central to three-shift system
The GFL Secretary-General explained that the 24-hour economy concept emerged from discussions surrounding a three-shift system within the manifesto committee, with the broader aim of increasing industrial production and creating employment.
He stressed that the policy should not be reduced to keeping shops, markets and other commercial establishments open throughout the night. Rather, he said, it is intended to encourage factories and other productive businesses to operate multiple shifts where demand and business conditions make it commercially viable.
Drawing on his experience in the industrial sector, Mr Koomson recalled periods when factories operated multiple shifts, arguing that extended production hours are achievable when businesses have the necessary resources and incentives.
However, he cautioned that companies must have confidence in the economy before committing additional capital or expanding their operations.
“If you want to bring this investment back, you must let them have confidence in your economy before they come,” he stated.
He said rebuilding that confidence would require a stable and supportive business environment, renewed industrial investment and policies that enable companies to grow rather than struggle to remain operational.
Long-term strategy, not an overnight solution
Mr Koomson welcomed efforts to implement the 24-hour economy, but said the initiative should be treated as a long-term national development strategy rather than a policy expected to transform the economy immediately.
He acknowledged that achieving its full objectives could take seven or even ten years, stressing that the country must begin the process while working to resolve the economic challenges facing businesses.
For him, the immediate priorities are to restore investor confidence, revive struggling industries and strengthen the productive base needed to support expanded operations and employment.
His comments come amid continuing political debate over the feasibility of the 24-hour economy, a flagship policy associated with President John Dramani Mahama and the National Democratic Congress (NDC).
Mr Koomson urged the public to assess the initiative in the context of Ghana’s industrial development needs, arguing that its success will ultimately depend on the government’s ability to create conditions in which businesses can invest, increase production and operate additional shifts sustainably.
Story by Stephen Kwaku Owusu Mintah
