The State Interests and Governance Authority (SIGA) has announced plans to review and realign performance contracts for state-owned enterprises to support the government’s flagship 24-hour economy initiative.
Speaking at a leadership dialogue themed “Innovating for Growth: Adapting Business Models to Ghana’s 24-Hour Economy,” SIGA Director-General, Prof. Michael Kpessa-Whyte, said the reform will ensure that public sector entities adapt their operations to meet the demands of a 24-hour productive economy.
“One of the ways we can track the impact of the 24-hour economy is by monitoring the performance and productivity of specified entities under SIGA. These entities already operate under performance contracts with defined Key Performance Indicators (KPIs)”.
“To align with the 24-hour economy, we must tweak the framework of these contracts—ensuring that where feasible, entities operate beyond the traditional 9-to-5 schedule, potentially extending work hours into the evening.” he stated.
The dialogue, organised by BERKH Africa in partnership with the Institute of Directors-Ghana, brought together policymakers, regulators, and private sector leaders to deliberate on how best to operationalise Ghana’s ambition for round-the-clock productivity.
Executive Secretary of the National Labour Commission, Dr. Bernice Anowa Welbeck, called for stronger collaboration with capacity-building institutions to support businesses transitioning to the 24-hour model. She underscored the need for better resourcing of the Labour Department to effectively supervise its implementation.
“When labour inspections are conducted, findings related to worker exploitation can be reported. If unresolved after advisory, the matter can be escalated to the Commission for action,” she explained.
Abdul Nasser Alidu, Head of Strategy and Programmes at the 24-Hour Secretariat, identified agriculture as a priority pillar under the Grow 24 programme, highlighting rice, maize, tomatoes, onions, oil palm, and soybeans as key value chains being targeted to stabilise food inflation. He further revealed plans to establish agro-industrial parks along the Volta Economic Corridor to boost sector productivity.
In her opening remarks, Lizzy-Ann Kwaggbedzi, Country Lead for BERKH Africa, urged businesses to see the policy as a catalyst for transformation rather than simply extended hours.
“The idea of a 24-hour economy is not just about keeping businesses open longer; it challenges us to innovate business models, expand market access, leverage digital transformation, and build resilient supply chains,” she said.
Analysts say SIGA’s planned reforms will drive accountability and performance within state enterprises while creating jobs and accelerating national economic competitiveness.
