The gig economy of Ghana is rising rapidly but still at an embryonic stage and offers a hopeful alternative to youth employment and sustainable livelihood. The outbreak of COVID-19 virus and increase in population in urban cities like Accra out-doored ride-hailing companies like Uber, Bolts, Yango, and other motor riding service providers as viable alternatives of work, movement, and delivery service support. This paper contributes to the discourse by unearthing exploitative practices faced by ride-hailers and associated psychological implications that weakens the potential of ride-hailing industry as a viable decent job alternative. Analysis of qualitative data from 25 ride-hailers shows that ride-hailers experience exploitation from ride-hailing platform operators, choking work-pay-own vehicle owners, and Greater Accra city management authorities. The study found majority of the sample worried about family neglect through absent-father syndrome, sleeplessness and financial pressures. While the ride-hailing industry provides economic contributions to businesses, consumers and offers employment options to many ready-to-work youths in Ghana, the lack of regulation in Ghana remain a threat to the sustainable development of ride-hailing industry. The present study recommends a stakeholder engagement leading to a government level intervention for policy and/or legal frameworks to ensure platform operators are accountable for ride-hailers financial and psychological wellbeing. Ride-hailers quest for livelihood could lead them to lifelessness if unregulated.