Government will review the Labour Act and the Ghana Investment Promotion Centre (GIPC) Act as part of efforts to implement its proposed flagship 24-hour economy initiative.
Finance Minister Dr. Forson pointed out that for the 24-hour economy to be effective, Ghana’s labour laws must be adjusted to accommodate a more flexible work structure that allows businesses to operate efficiently around the clock.
“We recognize that our current Labour Act must be updated to provide a legal framework that supports shift work, protects workers’ rights in a 24-hour economy, and ensures fair compensation for night shifts and extended work hours,” he said.
The Finance Minister also noted that the review of the GIPC Act will focus on attracting both local and foreign investment into sectors that can thrive under a 24-hour economic model.
He explained that strategic incentives and policies will be introduced to encourage businesses to expand their operations beyond traditional working hours, to increase job creation and economic growth.
“A well-structured 24-hour economy will increase productivity, create more employment opportunities, and enhance Ghana’s global competitiveness. We need policies that make this model attractive and sustainable for businesses,” Dr. Forson said.
The 24-hour economy initiative was a key campaign discussion, with stakeholders arguing that it will maximize the country’s economic potential, especially in sectors such as manufacturing, transport, retail, and hospitality.
However, its successful implementation will require legal and regulatory adjustments to ensure businesses and workers benefit equally.
Nonetheless, citizens are optimistic that 24-hour policy would elevate the standards of living for the Ghanaian people.
