The former President and flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has reiterated his determination to implement the innovative 24-hour economy policy if elected as President of Ghana, once again believing that this policy will play a crucial role in creating job opportunities and revive the ailing Ghanaian economy.
The 24-hour economy proposal, has received an overwhelming support from various sectors of society, including individuals, politicians, civil society organizations, and the business community.
The policy aims to transform Ghana into a country that operates around the clock, fostering economic growth and increasing employment opportunities for its citizens.
Under this policy, Mr Mahama envisions extending business hours beyond the conventional eight-hours, allowing businesses to operate throughout the day and night. This, he argues, will not only stimulate economic activity but will also attract international investment and boost tourism.
Former President Mahama, said this at the maiden edition of forum organised by the Council of Indigenous Business Associations (CIBA) in Accra on the theme “Formalizing Informal Sector Businesses Through CIBA And Cooperatives For Socio-Economic Growth And Development-The Role of National Leadership”.
The maiden forumaimed at creating a common platform forpolitical parties and their Presidential candidates to meet with executives of the various business Associations to articulate the plans they have for the informal sector should they assume the high office of Presidency of the Republic of Ghana. CIBA was established under the Council of Indigenous Business Associations Act, 1993 (PNDC Law 312) to act as focal point and unified voice for the informal business sector in Ghana.
Addressing the forum, the NDC standard bearer emphasized that the implementation of a 24-hour economy would create jobs in various sectors, including hospitality, transportation, healthcare among others adding that; this would provide young Ghanaians with more opportunities for sustainable employment and a chance to contribute to the development of their country.
He explained that businesses can maximize their productivity and profitability while offering convenience to consumers who may have varied schedules saying; this has the potential to attract foreign direct investment and establish Ghana as a hub for trade and commerce in the West African region.
Mr Mahama, reiterated that he next NDC government will create an enabling environment for businesses and companies to operate 24/7 by providing an atmosphere of improved security and public safety and also provide cheaper and reliable electricity for participating businesses based on a Time Of Use (TOU) tariff system.
The NDC 2024 flagbearer outlined specific measures, including legislative support, tax incentives, and regulations to facilitate businesses operating 24 our economy and# promised a favorable environment for companies participating in the initiative, offering reduced power tariffs during off-peak hours and financial support for strategic industries stating that the NDC government will make solar power available to barbers, hairdressers, and other micro entrepreneurs.
Mr Mahama, added that there must be also an efficient and reliable transport system to safer and easier for people to work promising that when he gets the nod as the next President, he will revive the Bus Rapid Transport system known as Aayalolo which has been collapsed by the Nana Addo’s government.
Speaking on the topic, formalizing CIBA and cooperative under the proposed 24-hour economy, the Chief Executive of Gamey and Gamey and a labour consultant, Austin Gamey, stated thata 24-hour economy is a deliberate setup that fosters a sense of community rather than an automatic result which promotes an inclusive economy that supports the creation of high-quality jobs, increased productivity, and enhanced collaboration.
According to him, this inclusive approach fosters a sense of national involvement, as people feel more connected to the country’s economic direction and take an active interest in it adding that the establishment of a 24-hour economy will transform cities across Ghana into vibrant, lively areas teeming with activities, bustling streets, nighttime commerce, and a flourishing tourism industry.
Mr. Gamey furthermore underscored that inclusion also fosters a sense of belonging and creates opportunities for collaboration and cooperation. This, in turn, engenders an environment where individuals feel a genuine connection to something they value.
He emphasized that showing genuine interest in others’ thoughts, successes, ideas, and feelings communicates that they and their contributions are valued pointing out that actively listening to what others have to say, individuals are acknowledging the significance of their perspectives and input.
On his part, the Executive Secretary of CIBA, John Nimo revealed that in line with Ghana’s digitalization drive with the intrinsic goal of accelerate economic growth, facilitates job creation and provide welfare and other benefits for member Associations, CIBA, has decided to establish a Database Management System (DBMS) and cooperative bodies for its various member associations respectively, cumulatively estimated in excess of 5 million individuals.
He added that CIBA would like to understand how the Presidential candidates will be willing to support the rollout of this landmark project nationwide and how their future government will support the success of this landmark project.
