‘We cannot yet quantify jobs created’ – 24-hour economy secretariat

Abdul-Nasser Suglo Alidu, Chief Programme Officer at the 24-hour Economy and Accelerated Export Development Secretariat, has stated that the government is unable to provide a definitive count of jobs created by the policy. Speaking on Joy FM’s Top Story, Alidu explained that the Secretariat is collaborating with the Ghana Statistical Service to establish a reliable system for measuring the policy's employment impact.

The Secretariat does not wish to make unfounded claims without robust data, so they refrain from announcing job numbers at this time. When pressed on how many jobs the 24-hour economy has generated, Alidu emphasized that structures are being developed to track the number of jobs created across the economy. This comes as the policy's progress and job creation targets have come under scrutiny.

While proponents had projected that the policy would absorb at least 300,000 new entrants into the workforce annually and reduce unemployment by 120,000 jobs each year by 2024, Alidu acknowledged that the Secretariat currently lacks the means to provide a nationwide figure on job creation since the program's inception. He noted that efforts to boost job creation are underway, but the systems needed to assess their overall impact are not yet fully operational.

Alidu also cited increased credit extended to the private sector, as reported by the Bank of Ghana's Monetary Policy Committee, as evidence that businesses are gaining better access to financing, which could potentially lead to more employment opportunities. He clarified that the 24-hour economy policy is more than just businesses operating in three shifts; it represents a broader strategy aimed at transforming the economy and fostering the development of globally competitive companies, including several state enterprises and private businesses already running multiple shifts to extend economic activity beyond traditional working hours.