Economist and Dalex Finance’s Director of Operations, Joe Jackson, criticized the advocated 24-hour economy by former President John Dramani Mahama and the ruling New Patriotic Party.
Mr. Jackson stated that a 24-hour economy cannot be imposed on Ghanaians; instead, the government should incentivize and create a favorable environment for entrepreneurs.
“The important thing is that you cannot impose a 24-hour economy. You can only provide incentives for the 24-hour economy and trust that entrepreneurs would risk their capital and businesses to join in”
“If there is somebody ready, and if there are enough people ready to eat fufu at midnight, I assure you somebody will be pounding fufu at midnight. If there is enough market for me to share my locally produced chips, then I assure you I will produce chips.” said Joe Jackson in an interview.
This comes after Finance Minister Ken Ofori-Atta announced the government’s intention to enhance the night economy to boost tourism. John Mahama had promised a 24-hour economy during the 2020 elections.
Jackson emphasized the need for thorough market research and economic considerations before implementing such a policy. He highlighted the importance of creating a competitive environment for small businesses by addressing factors like market availability, input costs, and financing.
