NDC's presidential candidate, John Dramani Mahama
The Flag bearer of the National Democratic Congress (NDC), His Excellency John Dramani Mahama in a recent meeting with the Trade Union Congress (TUC) promised to implement a 24-hour economy by the next NDC government.
Industry players, politicians, and other interest groups have expressed optimism and varied opinions on the proposal and are interested in the fine details.
A 24-hour economy ensures that products and services are available around the clock for consumers; the effective running of such an economy hinges on the availability of human resources and capital for its growth and expansion.
The current unemployment situation in the country is a ticking time bomb waiting to explode and our only hope as Ghanaians is a policy that can help reduce the current situation we have at hand.
According to the Ghana Statistical Service (GSS), 3.9% of the population falls within the unemployment rate in Ghana. Ghana’s industralisation drive has not seen much improvement due to the haphazardness of the one-district, one-factory policy being implemented by the current government.
A 24-hour economy is plausible and possible because some factories, hospitals, bus terminals, and eateries currently run a similar system in some parts of the country.
The Flag bearer during one of his town hall meetings elaborated on the policy. According to him, institutions such as fuel stations, hospitality industries, mining and extraction industries, construction companies, garbage collection companies, and a few others would be encouraged to embrace this policy.
To ensure a successful implementation, Former President, John Dramani Mahama promised enhanced security, tax incentives, and a subsidy in electricity tariffs to companies interested in partnering government.
One key sector that stands to benefit from the 24-hour economy is the local government sector, most district assemblies can now expand their operations by employing more human resources to help with the collection of taxes and tolls for the government, the assemblies through this initiative can also accrue some additional revenue as internally generated funds.
I am of firm conviction that with the support of Ghanaians, the flag bearer of the NDC would deliver on this promise.
In 2016, President Mahama supported local pharmaceutical companies with a 45 million-dollar facility to aid their growth and expansion. His establishment of the Ghana EXIM bank in 2016 is ample evidence of his commitment to growth and industrialization.
Cities such as Cairo, Beirut, London, Madrid, Buenos Aires, and Paris are all running a 24-hour economy and this has opened up the economies of these cities, it has also created more jobs and opportunities for residents.
Improved service delivery, more job opportunities, and economic growth are some of the benefits of a 24-hour economy.
It is therefore worth sharing that, this noble course be supported to bring the needed progress and development in our beloved country.
