A leading member of the ruling National Democratic Congress, Mr Henry Osei Akoto, has said the launch of the 24-Hour Economy by the John Dramani Mahama-government will open up Ghana’s economy for growth.
The initiative, which he described as bipartisan, was the surest way for Ghana to compete on the global scale when it comes to economic growth and expansion.
Speaking in an interview following the launch of the policy, which also known as 24H+ Agenda, yesterday, Mr Osei Akoto stated that Ghana loses more money from the number of hours it sleeps, as compared to the hours the nation stays productive.
“The 24-Hour Economy has been the mantra and policy we have been marketing over the years and every Ghanaian knows it. So, people who say it is an after-thought are mistaken. What we are telling Ghanaians is that the only way to expand the economy, to open up the economy, to create opportunities in the country as we speak now is to work beyond the 8-hour practice we have now. We should be working for 24-hours.
“The country shouldn’t sleep. The hours we use to sleep, monies gone and so if we want to be part of the current dispensation of the 21st century world economy, then we have to open up the country by making sure we are working 24-hours,” he explained.
Calling on all to support the policy, he said that the launch by President Mahama was fulfilment of the promise he made to the country.
He added that the 24-Hour Economy would create opportunities for all, especially the youth, and help expand the economy.
He also stressed that with the policy afloat, it places Ghana among many countries of the world who are benefiting from working around the clock, boosting their economies.
“The launch of the 24-Hour Economy by the president today is a laudable idea. We all remember that before the election, he was going around the country telling people that he was going to expand the economy, create opportunities for the youth, and that there was going to be more money in the economy, and he is going to propel that through the 24-Hour Economy policy. Looking at what he’s done today, it really affirms what he said some few months back and Ghanaians should support him.
It is a good initiative. It is happening everywhere in the world… you don’t go to Europe and after 10PM, the whole country is asleep, not only in Europe, but even in some African countries. Got to North Africa; go to Egypt, go to Morocco and other places and see what is happening there. So, we all have to embrace this thing because it is a good thing that I believe will create opportunities for Ghanaians and will open up the economy for more money and prosperity to come into it,” he added.
The 24-Hour Economy and Accelerated Export Development Programme, also referred to as “24H+,” is a flagship initiative of the Mahama-led administration.
It seeks to re-engineer Ghana’s productivity framework by extending economic activity beyond traditional working hours and integrating key sectors into a seamless, and efficient value chain.
The transformative programme comes with a projected cost of $4 billion.
The government is committing between $300 million and $400 million as seed capital to cover viability gaps and attract private sector investments.
BY TIMES REPORTER