As part of efforts to drive and promote data-driven decision making, it is emerging that the implementation of President John Mahama’s ambitious 24-Hour Economy policy will be firmly anchored on data gathered from the ongoing Integrated Business Establishment Survey (IBES).
This is according to the new Government Statistician, Dr. Alhassan Iddrisu, as he conducts the next phase of IBES to collect relevant data.
The Statistician reveals that the information gathered through the IBES exercise will not only inform policy formulation but will also directly influence how the government rolls out and monitors key initiatives such as the 24-Hour Economy.
The 24-Hour Economy, a flagship policy of the government aimed at expanding economic activity beyond traditional working hours, is expected to drive job creation, enhance productivity, and boost private sector growth.
For this vision to be successful and achieve the intended purpose, Dr. Iddrisu says the government needs to be guided by clear, credible evidence.
For this reason, he reveals the Ghana Statistical Service (GSS) has held discussions with the Executive arm of government on how best the data collated from IBES can help drive the implementation and monitoring of the initiative.
This, he says, the data from the IBES will not just sit on shelves but will be crucial for action. For a transformative programme like the 24-Hour Economy, he says the government cannot afford to move blindly, and hence the IBES will give us a factual foundation to work from.
“When we collect the data, the data will be used to actually inform policy making or policy formulation. But it will also be used to inform the implementation of programmes and policies. The data will also be used in monitoring and evaluation. And eventually, we want to see the data that we collect actually result in the outcomes of the people that we all serve,” the Government Statistician noted.
He continued, “we’ve had initial engagement with the executive with regards to the 24-hour economy. And definitely the information or the data will collect from the IBES will definitely inform the implementation of the 24-hour economy, the tracking of the progress the government is making on it, et cetera, et cetera. But also, we are going to engage not just government.”
“Through IBES, we are collecting data about businesses, their size, operations, sectoral strengths, and challenges. This will help not only the government track progress but also help businesses make more informed decisions to optimize their own operations within a 24-hour economic model.”
The Integrated Business Establishment Survey (IBES), conducted by the Ghana Statistical Service (GSS), is a comprehensive economic census aimed at enumerating all business units across Ghana’s economy, regardless of size, location, or sector.
It is implemented in two phases. IBES Phase I involves a nationwide listing of all businesses, including informal and online enterprises, to develop an updated Statistical Business Register. Phase II entails a detailed survey of selected establishments to gather in-depth data on their operations. The insights from IBES are crucial for informing policy formulation and monitoring economic programs.
Some experts believe that as the operationalization of the flagship 24-Hour Economy moves closer, the success of the policy may well depend on how well-grounded the implementation is anchored on credible and reliable data.
