24-hour economy makes sense with proper planning – Dr. Kwakye tells critics

Senior economist and Director of Research at the IEA, Dr. John Kwakye, has called on critics of the 24-hour economy proposal made by the former president John Dramani Mahama to, at least, be modest in admitting if they do not understand the concept.

He said that naysayers ridiculing the policy must first have a better understanding of the policy proposal before jumping the gun to criticize it.

In a post sighted by GhanaWeb Business via the X platform, Dr John Kwakye wrote, “If you don't understand a concept, be modest enough to admit so. Don't rubbish and dismiss it out of hand.

“A 24-hr economy, if properly planned, makes a lot of economic sense in a country with huge unemployment and idle resources and capacities,” Dr Kwakye added.

Meanwhile, the former president, when addressing delegates during his ‘Building Ghana’ tour, pledged to establish a 24-hour economy when elected as president in the 2024 presidential elections.

According to him, the policy would contribute to economic growth and job creation, especially for the majority of the Ghanaian youth.

The announcement has since gained widespread attention and reactions from a section of Ghanaians.

One of them, STC CEO, Nana Akomea, who ridiculed the proposal, saying Ghana's economy is already running 24 hours under the NPP administration, emphasized that no law stops any person or trader from engaging in business from dawn to dusk.

"Currently, nothing stops any person in this country to do 24 hours. It depends on the economic condition...There is no law currently that prohibits any person from operating 24 hours", he said on Peace FM's "Kokrokoo" programme Tuesday morning, citing STC as an example of the companies doing a 24-hour business.

https://t.co/8SrkwHl080 . If you don't understand a concept, be modest enough to admit so. Don't rubbish and dismiss it out of hand. A 24-hr economy, if properly planned, makes a lot of economic sense in a country with huge unemployment and idle resources and capacities.

— J. K. Kwakye (@JohnKwabenaKwa1) November 23, 2023

Watch the latest edition of BizTech below:



Click here to follow the GhanaWeb Business WhatsApp channel

Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.