The Ghana Union of Traders Association (GUTA) and the National Union of Ghana Students (NUGS) have officially thrown their support behind the 24-hour economy policy proposed by former President John Dramani Mahama and the National Democratic Congress (NDC).
This policy, initially outlined in the NDC’s 2020 manifesto, was reiterated by the party’s flag bearer, former President Mahama, during his ‘Building Ghana’ tour. The tour commenced with the Trades Union Congress in Accra on Tuesday, November 7, 2023.
Former President Mahama envisions the 24-hour economy as a three-shift working system that aims to include everyone in the employment bracket.
The endorsement took place at a forum in Accra called the Policy Dialogue Series, organized by the Upsilon PI Delta Institute (UPDI). UPDI is a civil society organization based in Accra, collaborating with the University of Media, Arts and Communication (UniMAC) to contribute to national development discourse and debates.
The Policy Dialogue Series brought together academics, businessmen, and other stakeholders to share perspectives, find common ground, and reach consensus on policy solutions. Its theme was “Unlocking Economic Prosperity Through a 24-Hour Economy.”
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Dr. Joseph Obeng, President of the Ghana Union of Traders Association (GUTA), expressed his optimism at the forum, asserting that the policy has the potential to transform the country’s economy. He emphasized that a 24-hour economy would generate more opportunities for businesses and workers, foster economic growth, and elevate Ghana’s productivity levels.
Dr. Obeng stressed the importance of utilizing night hours for productive purposes, encouraging Ghanaians to seize the opportunity to generate employment and contribute to the country’s overall productivity.
He highlighted the need to embrace the policy wholeheartedly, urging citizens not to engage in debates or mock it. Dr. Obeng encouraged everyone to recognize the potential of the 24-hour economy as a catalyst for positive change and growth in Ghana’s economy.
“The 24-hour economy policy presents a unique opportunity for businesses in Ghana to thrive and compete on a global level. By operating around the clock, we can maximize production, increase revenue, and ultimately improve the standard of living for our citizens,” he stressed.
Dr. Obeng commended the former President’s suggestion of utilizing the night hours for economic growth and productivity, adding that with the government’s support to create a conducive environment for night operations, traders are taking advantage of this opportunity to maximize profits and contribute to the development of Ghana.
The GUTA President noted that traders understand the importance of utilizing time and resources efficiently and are committed to sustaining the market. He applauded the efforts of the former President in fostering economic growth and looks forward to a continued partnership in driving progress for Ghana.
“The policy that is coming from the former President seeks to suggest we have space in the night and we have to work in the night and how we are taking the advantage to better our lot and be productive. There is no debate about this; it shouldn’t create anything. If it is something that’s already there, how do we activate it and revamp it to make it positive for all of us,” he quizzed.
Similarly, the General Secretary of the National Union of Ghana Students (NUGS), Ismail Issahaque, in his remarks, lauded the policy proposal as a visionary approach to strengthening Ghana’s economic growth and job creation prospects. He added that the proposal would enhance the living standards of the country’s citizens, especially students, boost the country’s overall prosperity, and create a more vibrant business environment for entrepreneurs.
“Ghana is in dire need of measures that will drive economic growth and create employment opportunities for the youth. The 24-hour economy policy proposed by former President Mahama and the NDC aligns perfectly with our aspirations. It will unlock the full potential of various sectors, such as hospitality, tourism, and manufacturing, and contribute significantly to our nation’s development.”
The proposed 24-hour economy policy aims to encourage more businesses to operate round-the-clock, expected to increase productivity levels, attract foreign investment, and boost Ghana’s GDP.
With the backing of GUTA and NUGS, it is anticipated that the 24-hour economy policy proposal will gain more traction and fuel further discussions among policymakers and business owners in the country. The endorsement from these prominent associations lends credibility to the policy, and its successful implementation could usher in a new era of economic growth and prosperity in Ghana.
