IMPACT OF GHANA’S 24-HOUR ECONOMY ON THE CONSTRUCTION AND REAL ESTATE SECTORS: EXPLORING THE OPPORTUNITIES, CHALLENGES AND RECOMMENDATIONS -

IMPACT OF GHANA’S 24-HOUR ECONOMY ON THE CONSTRUCTION AND REAL ESTATE SECTORS: EXPLORING THE OPPORTUNITIES, CHALLENGES AND RECOMMENDATIONS

 

A few weeks after reading the 2025 Budget Statement and Economic Policy, we published an article in the Business & Financial Times Newspaper (B&FT) and on our website (Africa Continental Engineering & Construction Network Ltd). In that article we expounded the opportunities in the Budget Statement for the built environment and how the Real Estate and Construction Industry could take advantage of the opportunities. 

Key among the identified opportunities discussed was the 24-hour Economy and Accelerated Export Development Program.

Fast forward on July 2, this groundbreaking policy has been launched, and our mission today is to delve into how this transformative economic policy can impact the Construction and Real Estate Industry, the opportunities, the inherent challenges and to offer recommendations on how the policy could further be shaped to deliver optimal results for the building, construction and real estate sectors.

The introduction of the 24-hour economy is expected to drive a paradigm shift in Ghana’s economy with the aim of changing the structure of the economy from the current import-driven to a production-based or manufacturing economy to stimulate growth across all sectors. The policy is designed to promote continuous operations beyond the traditional 8-hour work schedule and presents unique opportunities for all sectors of the economy and by extension, the construction and real estate sectors.

The Policy comprises eight interconnected sub-programs that form its foundation and these include Grow24 (agriculture), Make24 (manufacturing), Build24 (infrastructure), Fund24 (financing), Show24 (creative economy and tourism), Connect24 (logistics), Aspire24 (human capital development), and Go24 (governance and civic engagement), with the Build24 being the thematic area or program designed to deal with our industry, the Building, Construction and Real Estate sectors. 

Now stay connected, do not go away and let us discuss Build24 together, remember to share your views via the provided email address and your constructive views shall be adopted and acknowledged in subsequent updates of this article.

Transformative Role of the 24-Hour Economy

The 24-hour economic policy has the potential to transform the construction and real estate sectors in several ways. These areas of transformation include but not limited to the following, timely completion of projects, enhanced construction speed, foreign direct real estate investment attraction, job creation, increased demand and supply chain pressures, stimulating innovative industry growth and enhanced construction activities across major cities.

Enhanced Construction Activities

If the 24-hour Economy is fully implemented in the construction and real estate sectors, it will require not only housing projects but general basic infrastructure such as access roads, bridges et cetera that will support round-the-clock operations. This demand will undoubtedly lead to a dramatic expansion in construction projects, including commercial buildings, residential complexes and transportation infrastructure.

Already, the resumption of major stalled projects in 2024 this year has come with a certain level of sector boost within the first two (2) quarters of the year. Demand for building materials has gone up dramatically as a result, according to a short survey we did at the 2^nd quarter ending. Therefore, the full implementation of the 24-hour economy will lead to a substantial increase in construction activities across major cities.

Increased Demand and Supply Chain Pressures

The operationalization of the 24-hour economy will lead to timely completion of projects, potentially leading to increased demand for building materials, tools and equipment. Materials such as cement, steel, paint, plumbing, electricals, roofing sheets, granite chippings, sand, concrete blocks, fiber, et cetera will surge, putting pressure on suppliers. 

What this means essentially is that sector players should start expanding their stock storage spaces to be able to accommodate more materials in expectation of this demand. It is also likely to trigger innovative ways of doing business in the sector. Online automation, ordering, tracking and third-party delivery systems are likely to emerge. This is going to increase efficiency if the supply chain is well managed to avoid distortions. 

It is an opportunity for forward-thinking suppliers to make lifetime fortunes out of this. But even though this sounds good, unintended outcomes may occur, there could be price hikes for locally made building materials if the supply is unable to meet the demand.

Investment Attraction

A smooth implementation of the 24-hour economy will improve Ghana’s attractiveness to both local and foreign direct real estate investors by the level of efficiency and modernization that may have come as a ripple effect of the policy. Streamlined processes and job schedules extending beyond traditional 8-hrs will enhance productivity leading to higher investor confidence. This will attract more investments in the construction, real estate and general infrastructure across major cities in Ghana.

Job Creation

The expansion in operations that will come as a result of the extended work hours beyond the traditional 8-hours will create new employment opportunities in the value and supply chains in construction and real estate services. This shift will create more roles or jobs that will require the engagement of more hands leading to massive employment in the sector if the 24-hour economy policy is well implemented in the sector.

Challenges and Mitigation Strategies

While the implementation of the 24-hour economy may come so easy to other sectors of the economy, several challenges may prevent its success in the construction and real estate sectors. Challenges such as significant increases in operational costs, workforce fatigue and security concerns on project sites et cetera. Addressing these issues will require comprehensive policies and stakeholder collaboration.

Recently, I watched one of the government appointees on a national media platform and he mentioned that the 24-hour economy is designed to be driven by the private sector instead, not the public sector as many think, he said. If indeed what he said is true, then getting the full benefit of this policy for the construction and real estate sector in particular may not materialize. 

We shall deal with some foreseeable challenges and further give recommendations on some public sector initiatives that could enhance the derivation of optimal results from this all-important policy.

Pressure on Public Utilities

Operating a 24-hour economy will increase energy consumption on the already overstressed energy infrastructure. This may lead to loadshedding between industrial and domestic consumers which is likely to defeat the purpose of the 24-hour economy in the construction and real estate sectors. 

The construction sector is known for heavy power consumption. Citing a practical example, the steel manufacturing firms, the stone quarry operators, concrete manufacturing plants et cetera. It most likely will double their average power consumption and this will have a significant impact on the national grid.

Private Sector Cost of Running the 24-hour Economy

Apart from the government’s capital injection into the 24-hour economy policy initiative, there is a private sector cost of implementing the 24-hour economy in the construction sector. This cost is significant, and I personally doubt if many construction and real estate sector players are ready and willing to bear this cost. 

Unlike a fuel filling station at Airport City which may not need anything much to implement the 24-hour economy, the site of a typical construction and real estate project will require industrial flashlight for proper site illumination to be able to operate at night effectively.

Apart from the installation of industrial flashlights, a typical construction or real estate development site will have to put in place warm and safe break areas, standby generator sets, night-specific safety gadgets, backup equipment, adequate staff changing and resting accommodation, on-site first aid clinics and emergency logistics, well trained and equipped site security et cetera to be able to operate 24 hours. The above and many other requirements many sector players do not meet and may not be willing to invest in this to run 24 hours.

Construction Sector Labor Shortage

Labor shortage and constraints will be a major challenge to the smooth implementation of this policy in the construction and real estate sector. For the past few decades, Ghana has battled construction industry labor shortages. The thrived illegal migration in parts of early 2000s that witnessed a mass drift of the youth to other African countries such as Libya affected not only the Agric sector but also the construction industry.  

Some promising youths who were leaning or yet to learn trades left Ghana in search for greener pastures and have since returned without any skill after the fall of Col. Muammar Al Ghaddafi’s regime. This notwithstanding, the advent of illegal mining popularly known as “galamsey” has exacerbated the situation. 

Many youths including trained sector artisans around major cities across the country found their way into illegal mining and now the third industry labor disruptor being the introduction and proliferation of gaming and gambling setups in Ghana. Our youth bet their way into laziness and idleness instead of tradesmanship and artisanship. These events and many others led to the significant unskilled labor shortage we see today in the Ghanaian construction landscape.

For some time now Ghana has relied heavily on imported artisans and tradesmen from our neighboring countries such as Togo, Benin and Nigeria.  The challenge here is, how fast can the required numbers of artisans and tradesmen be trained to support the introduction of the 24-hour economy. If this does not work, then overreliance on imported labor may disrupt productivity if the imported labor is unable to meet the expected demand that may be triggered by the implementation of the 24-hour economic policy.

Noise Pollution

One other challenge that is well anticipated is noise pollution. The construction and real estate sectors are major noise pollution agents. Even though jobs such as plastering, block laying, painting et cetera can be done easily at night without noise, deep excavations, site clearing, concrete batching may not be done at night shift without disturbing public peace. 

The Environmental Protection Authority (EPA) sets permissible ambient noise levels for different areas in order to protect public health and well-being. For residential areas, maximum noise levels must not exceed 55 decibels during the day and 48 decibels during the night.

As a layman, I do not really know what intensity of noise is classified as 55 decibels et cetera but what I do know is that noise from excavation works, concrete batching, demolishing works, automatic concrete block making machines may not meet the 48 decibels prescribed by law.  What this means essentially is that major construction activities may not be done on projects sites located in developed urban areas. This will have an impact on the overall implementation of the 24-hour economy in the construction sector.

Recommendations

The implementation of the 24-hour economy is welcoming news to all sectors of the economy including that of the construction and real estate sectors. Even though all sectors of the economy may have their unique challenges with implementation, the challenges of the construction and real estate sectors are outstanding. 

The construction and real estate sectors are connected to several bureaucratic public sector institutions that cause significant distortions in the smooth operations of the sector. In the subsequent paragraphs, we shall be touching on certain areas and institutions whose operations must further be shaped in order for the industry to enjoy the full benefits of the implementation of the 24-hour economy. 

We recommend that the following institutions must work for extended hours if not the full 24-hour shift, the Lands Commission, the Metropolitan and Municipal Assemblies (MMDAs), Environmental Protection Authority (EPA), the Real Estate Agency Council (REAC), the Ghana Standards Authority (GSA), and some High and Commercial Law Couts hearing land litigations. 

We shall take them one after the other, this will help us appreciate why we believe extension of their working hours will enhance full operationalization and benefits of the 24-hour economy in the construction and real estate sectors.

Accelerated Land Administration

One of the critical bottlenecks in Ghana’s construction and real estate development sectors has been the protracted land registration and titling processes. The implementation of the 24-hour economy or extended working hours could revolutionize land administration by enabling the Lands Commission to operate in shifts. 

This will help clear the many years of backlogs and delays in title registration, transfer and valuation processing times contributing to the overall efficiency of the industry.

Real Estate Agency Council

The coming into force of the Real Estate Agency Act 2020 (Act 1047) has brought another twist to property title registration in Ghana.  “Despite any provision in any other enactment to the contrary, the Lands omission shall not register any real estate property or interest in real property which has been the subject of a real estate transaction, including a transaction otherwise exempted from the application of this Act under Section (1), if the application for registration is not accompanied with a Real Estate Transaction Certificate issued by the Council” pursuant to Section (47) (6) of the Real Estate Agency Act 1047, Act 2020.

The implementation of this legal requirement will soon lead to heaps of undelivered transactions at the Real Estate Agency Council considering the current state of staff attrition and lack of logistics. This has the potential to delay title registration, and this will have a significant impact on the effective operationalization of the 24-hour economy in the construction and real estate sectors. To be able to deal with this expected backlog, it will be expedient for the Real Estate Agency Council to operate at extended working hours if not the full 24-hour shift system.

Municipal and Metropolitan Assemblies Operate Extended Hours

The Municipal and Metropolitan Assemblies will have to work extended hours too in order to unlock the full potential of the 24-hour economy in the construction and real estate sector. This will mean faster approvals of building and development permits, quicker responses to site inspections, zoning approvals and land use services, inspections and compliance particularly with night building projects etc. 

Considering the crucial role the MMDAs play in the construction and real estate sectors, we recommend that the MMDAs operate at extended hours or shifts, this will clear all backlogs that may have accrued by virtue of bureaucratic delays. This will also contribute to unlocking the full benefits of the 24-hour economy for the construction and real estate industry.

Extended Hours for Commercial and High Law Courts

Land litigation has been a major challenge hindering growth in the construction and real estate sectors. Our Commercial and High Courts have been choked by land litigations hanging undecided for years. During this period of litigation all development activities on such properties are suspended. 

This affects investment in the sector, reduces the national housing stock and creates a wide cycle of unemployment.  To clear up the backlogs, ease the pressure and to facilitate quick judgements on land litigation cases, we are of the opinion that some of the Commercial and High Courts hearing these litigation cases may consider working for extended hours. This will help fast-track the conclusion of litigations that have traveled decades in our courts and still counting, staling real estate and general infrastructure development.

Ghana Standards Authority

The Ghana Standards Authority (GSA) is another significant institution in the Ghanaian construction industry. Faster material testing, material inspection to ensure standards and compliance et cetera. Just like all other institutions where there are issues of huge backlogs, the Ghana Standards Authority is equally not an exception. 

Therefore, working for extended hours will fast-track the testing and certification of building and construction materials, easing the pressure of backlogs whilst facilitating the testing process of materials for introduction into the market for consumption. Considering the crucial role of the Ghana Standards Authority, we are of the opinion that the benefits of the 24-hour economy may not be fully exploited if the Ghana Standards Authority (GSA) does not work beyond the traditional 8-hours prescribed by our labor laws.

Environmental Protections Authority

The Environmental Protection Agency (EPA) may also have to consider working for extended hours just like the MMDAs. This will help enforce compliance with noise pollution levels to ensure public wellbeing. It will also facilitate the quick processing of environmental permits required by certain projects.  

Liquidity Support for Local Material Manufacturers

 As mentioned earlier, the implementation of this policy is likely to trigger local material shortages as the supply may not meet demand. Take for example, many concrete producing factories, steel producing plants, stone quarry plants, cement manufacturing plants, paint manufacturing plants et cetera operate half capacity not because there is no demand, but the lack of funds to invest in the infrastructure that makes the plants and sites industrially conducive for shift systems.

I have worked in the stone quarry sector for two (2) years, and it will surprise you to know that it was only Eastern Quarry that operates 24-hour shift. The rest of us in Accra and the Eastern Region were doing 8 hours even with downtimes. I remember truck drivers will have to drive through a couple of quarry sites just to pick only a load for the day. 

This posture towards production at this time may not work, taking into consideration the magnitude of demand for materials the 24-hour economy is likely to pull. It is my prayer that the stakeholders of the industry will make a strong case to government and demand a bigger chunk of the Fund24 (Financing). This will motivate sector players to position themselves for this all-important industrial revolution.

Conclusion

In conclusion, Ghana’s transition to a 24-hour economy holds transformative potential for the real estate and construction sectors. Our industry has never been here before. A regime such as the 24-hour economy. It will require stakeholder engagement, collaborations to embrace this shift, driving innovation, evening out bottlenecks and contributing to the entire industry’s wellbeing. 

But this will be tough as the industry remains fragmented. Many regulators, regulating pockets of the industry resulting in overlaps and duplications of responsibilities, adversarial approach to issue instead of collaborations etc. If the industry remains the same as it is today, it is highly likely this industrial revolution too shall elude the construction industry.

On this note, we therefore recommend an overhaul of the industry structure and regulation by forming the Ghana Build Environment Authority (GBEA). This will merge all the councils regulating various professions and sectors such as the Real Estate Agency Council, the Engineering Council, the Architects Registration Council et cetera whilst consolidating all their respective laws. 

This will ensure policy refinement and coordination, and we believe it will bring an end to many of the efficiencies that are costing us our development. This indeed is a full topic on its own and shall be treated separately in subsequent articles. But before we take leave, let me be quick to issue this disclaimer that views or opinions expressed in this article or any article by this writer are not to be relied on without obtaining legal or other professional advice when taking a step or entering into any legally binding agreement.

By way of concluding, do remember that the Africa Continental Engineering & Construction Network Ltd remains your number one stop shop for all your real estate services, land banking investment strategies, property development, brokerage services, title registration, project funding consultancy services, feasibility studies etc across Ghana and Africa. Just place a call, we have you covered 360℃.

References

• • 24-hour Economy and Accelerated Export Development Program (2025), Office of the President, Ghana.

• • ACECN (2025): Market Survey on Demand of Building Material Inputs, Greater Accra Region, 1^st and 2^nd quarters.
  • 
    

About Author

Daniel Kontie

Email address: d.knotie@acecnltd.com

Website: https://acecnltd.com/