24-hour economy welcoming but will depend on demand and supply – AGI

The Ashanti Regional Chairman for the Association of Ghana Industries, Kwasi Nyamekye, has described the 24-hour economy as an incentive for Ghanaian industries.

Despite lauding the initiative, he believes that the decision by industry players to adopt this initiative will depend on demand and supply.

According to him, a boost in this sector would inadvertently increase the demand for labour as well, creating employment avenues for many citizens.

“This would be premised on demand and consumption from the local market. If we have these in place, we wouldn’t need incentives to run 24 hours; we’ll be motivated ourselves,” he explained.

Speaking on The Big Issue on Citi TV, the AGI regional chairman identified some challenges within the Ghanaian economy that needed redress before the implementation of a 24-hour economy.

Kwasi Nyamekye called for an enhancement of e-commerce and online trading systems to create a broader market, both locally and internationally.

“If we want to do business beyond the African continent, we’ll need to use more technology to reach markets across the globe,” Mr. Nyamekye added.

Furthermore, Mr. Nyamekye urged the government to “strategically target the strengths of local industries and mitigate competition from foreign companies.”

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