The State Interests and Governance Authority (SIGA) has announced plans to revise performance contracts for state-owned enterprises to align with the government’s 24-hour economy initiative. This strategic move is aimed at enhancing productivity, job creation, and operational efficiency in the public sector. According to SIGA Director-General, Prof. Michael Kpessa-Whyte, aligning existing Key Performance Indicators (KPIs) with the demands of a 24-hour economy will ensure that public entities play a more active role in achieving national development targets.
Speaking at a leadership dialogue on Ghana’s 24-hour economy organized by BERKH Africa and the Institute of Directors-Ghana, Prof. Kpessa-Whyte stressed the importance of moving beyond the conventional 9-to-5 model. He noted that performance contracts under SIGA’s oversight already have metrics in place, but these need to be modified to support extended operating hours where feasible. This adaptation will help track real-time productivity improvements and better serve the needs of a modern economy.
Meanwhile, the Executive Secretary of the National Labour Commission, Dr. Bernice Anowa Welbeck, emphasized the role of institutional collaboration in successfully transitioning businesses to the 24-hour model. She advocated for better resourcing of the Labour Department to monitor compliance and protect worker rights. She also explained that unresolved cases of worker exploitation discovered during inspections could be escalated to the Commission for formal action.
From a strategic perspective, agriculture has been identified as a cornerstone of the 24-hour economy, particularly through the Grow 24 initiative. Abdul Nasser Alidu of the 24-Hour Secretariat highlighted key agricultural value chains such as rice, maize, tomatoes, and oil palm as primary focus areas due to their influence on food inflation. Plans are also underway to establish agro-industrial parks along the Volta Economic Corridor to support around-the-clock productivity and processing.
In her remarks, Lizzy-Ann Kwaggbedzi, Country Lead for BERKH Africa, noted that the 24-hour economy is not merely about extending working hours. Rather, it represents a broader call for innovation in business models, digital transformation, and resilient supply chains. The event, themed “Innovating for Growth: Adapting Business Models to Ghana’s 24-Hour Economy,” reflected a collective commitment to leveraging this shift for inclusive economic growth.
Source: Citi newsroom