John Dramani Mahama has distinguished his 24-hour economy proposal from President Akufo-Addo’s ‘Night Economy’ which seems to solely focus on tourism.
The 2024 presidential candidate for the opposition National Democratic Congress (NDC) has intimated that “the 24-hour economy I proposed is for jobs, jobs and more jobs and to render it simply, Kofi will do part of the job, Salifu will do his part, as well as Enyornam, for Kortey to do the rest.”
Speaking to the Catholic Bishops in Sunyani Saturday, November 18, 2023, the former President expressed how heartwarming it was for the ruling government to buy into his idea but rather on a relatively limited module in terms of implementation.
“I’m heartened that my recent suggestion of operating a 24-hour economy in Ghana has been heard by the Finance Minister. As he mentioned in his recent budget statement in the form of what he called the night economy.
“However, my idea of a 24-hour economy goes beyond a just a night economy which is to boost tourism as explained by the Hon. Ken. Ofori-Atta,” he explained.
Speaking further, Mr. Mahama detailed the specific areas of the economy where he wants to focus his 24-hour three-shift economy.
“I envision a 24-hour economy where hospitality facilities, filling stations, manufacturers, construction companies, garbage collection companies, mining and extractive industries, agro processing industries, harbours and ports, financial services, digital startups and BPOs will operate preferably a three-shift system 24/7 in an atmosphere of safety and security,” he detailed.
He was also optimistic of a “heighteneed security needed for a 24-hour economy” which “will also provide for safer cities, and thereby in effect boost tourism.”
Meanwhile, the former President said his initiative is not going to be an imposition on the economy but rather a voluntary adventure where businesses who choose to apply will enjoy various incentives.
“This 24-hour economy initiative I proposed will be voluntary. It’ll not be imposed. Businesses will be encouraged to sign up with tax incentives provided for them, an enhanced security and lower electricity tariffs.
“After peak hours, special metres will be employed to provide what is known as time of use tariff to deliver cheaper power to such businesses, during especially the hours of 10pm and 6am,” he disclosed.
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