Accra: Since taking office six months ago, Ghanaian President John Mahama has placed a firm focus on reviving the country’s economy—a key promise of his campaign. The new leader is seeking to shift the West African nation away from relying solely on its traditional sectors to establishing a more diversified economy. To this end, Mahama has launched a so-called 24-hour economy designed not only to create job opportunities around the clock but also to transform Ghana from an imports-based economy to self-sufficiency.

According to Deutsche Welle, Mahama’s plan is about far more than creating cities where shops, restaurants, and bars can operate day and night. His vision is to boost Ghana’s economic output by tripling the hours that vital industries and sectors operate—from an average of eight hours per day to 24 hours. By the end of the decade, this ambitious policy could create 1.7 million new jobs across the nation, potentially reducing unemployment by 5%.

Economist Daniel Amateye Anim believes that bridging the gap from the theoretical idea behind the new policy to its actual application is where challenges may arise. He noted that about $4 billion is needed to drive this 24-hour policy, placing financial strain on Ghana, which already owes $3 billion to the International Monetary Fund after previous defaults.

Ghana’s approach as a government-backed policy is unique on the African continent but faces multiple hurdles in its implementation. Amateye highlighted the importance of funding, questioning the financial capacity of Ghana’s private sector to support such an innovative program. He suggested that the government should take the lead in funding the initiative to set the pace before private enterprises can fully engage in Mahama’s 24-hour economy vision.

DW’s correspondent in Accra, Isaac Kaledzi, agrees that the execution of the 24-hour agenda could encounter difficulties, including funding and the lack of infrastructure necessary to implement the plan nationwide. He pointed out that Ghana currently struggles with power supply, which could hinder the continuous operation of industries.

Mahama’s plan stands out for not being exclusively a top-down approach. While championed and led by his government, the 24-hour Plus plan will rely on a collaborative approach involving labor unions, the private sector, and international development partners. However, Amateye cautioned that the reliance on the private sector could be problematic, potentially giving larger companies too much leverage in the scheme.

In order for an innovative approach like shifting the economy to a 24-hour cycle to succeed, Ghanaians would need to alter their mindset and the way they view their government. Amateye emphasized the need for public trust in transparent and accountable government departments to manage the funds involved in the 24-hour economy. Additionally, he highlighted the necessity for Ghanaians to change their perception of work, moving away from a focus on administrative jobs to embracing vocational and technical training.