A 24-hour economy okay, but has its own challenges

By Daily Revelation Editor

Last week President Hakainde Hichilema met with the Zambia Congress of Trade Unions (ZCTU) at State House, where he proposed that Zambia should learn from developed nations on how to operate a 24-hour economy, arguing that this development would significantly contribute to job creation and productivity in the country.

Some of the countries that operate their economies on a 24-hour basis include the USA, Canada, France and UK, China, Japan, United Arab Emirates, Singapore, Australia and Germany among others.

Zambia is part of the global community and can surely venture into such an economic initiative at full capacity to help increase productivity and create employment opportunities for citizens.

Zambia is currently grappling with unemployment levels especially among the youths, therefore the President’s thinking on this important economic aspect is a welcome move in that it will give Zambia an opportunity to maximize production and create employment for the many jobless youths. Extended operating hours will result in additional shifts of human resources, and provide job opportunities, resulting in reduced unemployment, while at the same time boost economic participation.

Taking this economic path will certainly enhance business opportunities as well as competitiveness in various industries.

We note that Zambia has already started operating some sectors of the economy on a 24 hour basis. In Kabwata for instance, there is Young Phiroz and another one Big Store on Zambezi Road in Lusaka, and some filling stations among others operating on a 24 hour basis.

In August this year, Home Affairs minister Jack Mwimbu launched a 24 operation of Katima Mulilo Border Post, a move the minister said was essential in meeting Zambia’s aspirations of becoming a prosperous middle income nation by 2030.

The minister also said the 24 hour service will help facilitate the growth of inter-African trade liberalization across the continent.

The 24 hour economy is likely to provide Zambians an opportunity to access goods and services at any time of their convenience as well as create employment for many young people.

However, such an economy does not come without challenges. Some of the potential challenges include security. Any country with a 24 hour economy has water tight security to ensure the safety of both businesses and people.

This is one area Zambia is lagging behind. Our security system is so porous and weak such that it is difficult to contain hard-core criminals. Many times, we have seen police officers involved in criminal activities. If we continue on this trajectory, it will be difficult to run such an economy. Additionally, transport systems will require to be looked at in a much detailed manner. We say so because for any economy to run effectively requires a robust and well-coordinated structured transport system is needed. Here, it is difficult to describe the type of transport system the country has because it is so uncoordinated in the way it is run. Government will have to play a role in the transport sector if a 24 hour economy is to be realised. Otherwise, relying on the private sector-driven transport system, it will be difficult to achieve this goal.

The other important aspect is that, much as a 24-hour economy has the potential to increase production, but that production doesn’t come by itself. It involves manpower. This means that firms will be required to increase the number of workers, however, given the dire economic situation that will be suicidal. The government should therefore come up with incentives for the employers in form of reduced taxes and other incentives for instance to encourage firms to employ more people.