Why Zambian businesses must embrace 24-hour economy —Ministry

Government has urged businesses to embrace the 24-hour economy policy to boost productivity, create jobs and accelerate economic growth under the Grow Zambia Agenda.

The Ministry of Commerce, Trade and Industry said the policy was intended to create an enabling environment for businesses by removing regulatory restrictions that previously limited round-the-clock operations.

In a statement issued in Lusaka on Wednesday, Ministry Principal Public Relations Officer, Everness Nankala, said the policy presented opportunities for business growth, increased productivity and job creation as part of the Government’s broader economic transformation agenda.

Nankala said the 24-hour economy was designed to unlock business potential, adding that Government had removed restrictions that prevented businesses from operating around the clock.

“We now encourage businesses to embrace this opportunity and assess how operating on a shift basis can help them grow and become more competitive,” she said.

She said adopting a 24-hour operating model could increase revenue by allowing businesses to serve more customers and maximise sales through extended operating hours.

Nankala added that the model could create employment opportunities, particularly for young people, through shift-based work.

“ These include increased revenue and sales as extended operating hours allow businesses to serve more customers and maximize sales. It will also lead to job creation through new shift-based employment opportunities, particularly for the youth,” she said.

She said businesses could also improve the use of their assets, as machinery, equipment and infrastructure would be used more efficiently, reducing idle time.

Nankala said extended operating hours would improve customer convenience by allowing people to access goods and services at times that suited them.

She added that the policy could enhance competitiveness by enabling businesses to respond more effectively to market demand and compete in regional and international markets.

Nankala said the 24-hour economy could also stimulate growth in supporting industries, including transport, security, logistics and food services, as demand for services increased during night operations.

“It will also attract investment as a vibrant 24-hour economy signals a dynamic business environment attractive to both local and foreign investors,” she said.

She said the policy was a key component of the Grow Zambia Agenda, with the potential to stimulate production, trade and value addition.

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