July 21, 2024
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The idea of a 24-hour economy laudable – Theo Acheampong

Political Risk Analyst, Dr Theo Acheampong has lauded the 24-hour economy idea proposed by former President and NDC presidential candidate for election 2024, John Dramani Mahama.

According to him, the policy, if implemented effectively, could be beneficial in reducing the unemployment rate in the country.

Dr Acheampong emphasised that the policy has the potential to create job opportunities for more Ghanaians, contributing to overall national development.

“The idea of a 24-hour economy is laudable and I make no exceptions or mince words about that. The devil of course is in the details and what exactly we want to attain by it.”

“But if you come from the fundamental premise that you want to create more jobs and expand the economic basket, then allowing more Ghanaians to work either during the day or at night on rotation shift is something that is laudable.”

During the commencement of his two-day tour in the Ahafo Region, the NDC’s 2024 Presidential Candidate addressed the skepticism surrounding his proposed 24-hour economy.

He emphasized that the initiative would provide tax incentives and other advantages to businesses that voluntarily participate in the programme.

According to him, the overarching goal is to generate additional employment opportunities for the people of Ghana.

“I envision a 24-hour economy where hospital facilities, fuel stations, manufacturers, construction companies, garbage collection companies, mining and extractive industries, agro-processing, harbours and ports, financial services, and digital start-ups will operate a three-shift system 24/7 in an atmosphere of safety and security.

“This 24-hour economy I propose will be voluntary, it will not be imposed. Businesses will be encouraged to sign up with tax incentives provided for enhanced security and lower electricity tariffs after peak hours. Special meters will be deployed to provide what is known as time-of-use tariffs to deliver cheaper power to such businesses during the hours of especially 10:00 am and 6:00 am,” he explained in an address to Catholic Bishops in Sunyani on Saturday, November 18.

But the new leader of the governing New Patriotic Party (NPP), Dr Mahamudu Bawumia has also mocked the concept saying the former President is clearly out of ideas.

“Today, John Mahama says he has new ideas and that he wants a 24-hour economy, he doesn’t even understand that policy,” the Vice President stated.

“Today, our hospitals, Electricity Company, Water Company, fuel stations, chop bars and many sectors all work 24 hours. Today, because of digitalization you can transfer and receive money in 24 hours, so he doesn’t understand his own policy,” the Vice President argued.

Speaking to a gathering at a rally during his “Thank You Tour” in Tamale in the Northern Region, the Vice President asked Ghanaians to vote massively for him, saying, “Vote for Dr. Mahamudu Bawumia in 2024, I will bring new vision, I will bring new policies and we will transform this country.”

“John Dramani Mahama is the past, Dr. Bawumia is the future. If John Mahama was still around we would have had dumsor [Power cuts], and you can’t have dumsor with 24-hour economy,” he stated.

But the Vice President has been lambasted by some critics for downplaying the policy.

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