The National Democratic Congress’ (NDC) flagbearer, John Dramani Mahama, has outlined his vision for a ’24-hour economy’ policy, which he believes will help reverse the alarming trend of Ghana’s youth risking their lives in perilous journeys across the Sahara and the Mediterranean to reach Europe in search of better opportunities.
John Mahama’s 24-hour economy plan stands as the centrepiece of his 2024 re-election campaign, aiming to stimulate economic growth and job creation.
Addressing the 50th Sunyani Catholic Diocese Celebration, John Mahama expressed his unwavering determination to implement the policy, driven by the increasingly dire situation arising from the lack of employment opportunities for Ghana’s vibrant youth.
“Our youth are growing increasingly frustrated with the lack of jobs and are losing faith in the future of our country,” Mahama stated.
“Ghanaian youth are voicing their disillusionment by risking their lives in dangerous migrations across the Sahara and the Mediterranean to enter Europe. We can reverse this trend by strengthening our economy and creating more jobs for our young people. This is an urgent call to action.”
The government has acknowledged Mahama’s proposal for a 24-hour economy, with the Finance Minister, Ken Ofori-Atta incorporating it into the 2024 budget under the moniker ‘night economy.’
Mahama explained that his vision for a 24-hour economy extends beyond a mere night economy focused on boosting tourism.
He envisions an economy where all business sectors operate a three-shift system around the clock, all days of the week, within a secure and safe environment.
“My 24-hour economy concept goes beyond just a night economy to boost tourism,” Mahama emphasized.
“I envision an economy where all business sectors will operate a three-shift system 24 hours a day, seven days a week, in an atmosphere of safety and security.”
“This 24-hour economy will be voluntary, not imposed. Businesses will be incentivized to participate by enjoying tax breaks and lower electricity tariffs for operating during off-peak hours. Special meters employ what is known as ‘Time of Use’ (TOU) tariffs to provide cheaper power to such businesses.”
Mr. Mahama has positioned the 24-hour economy as a cornerstone of his campaign for the 2024 presidential election, advocating for its potential to stimulate economic growth and job creation.
Since the announcement of the initiative, many policy analysts have welcomed the idea, indicating that it will go a long way to dealing with the unemployment situation in Ghana.
Dr. Anthony Yaw Baah, the Secretary General of the Trade Unions Congress has also lauded the 24-hour economy initiative saying it will be a “Game Changer”.
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A few days ago, Finance Minister Ken Ofori-Atta, while presenting the 2024 budget in parliament on Wednesday, claimed the policy was already being implemented.
In a scathing response, NDC National Communications Officer Sammy Gyamfi asserted, “No desperate attempt by Alhaji Bawumia and the NPP who are bereft of ideas to steal this policy will work. We have seen the cheap attempt they made in the 2024 budget to steal this project and to create an impression that they are already doing it.”
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