Unlocking Ghana's Potential: The Promise of a 24-Hour Economy

President John Dramani Mahama's 24-hour economy initiative is a bold and transformative policy aimed at reshaping Ghana's economic landscape. This initiative envisions a nation where productivity and opportunity extend beyond the traditional 9-to-5 framework, fostering round-the-clock economic activity. By encouraging businesses, factories, and public institutions to operate in three eight-hour shifts, the policy seeks to address unemployment, boost industrial output, and align Ghana with global economic trends.

The 24-hour economy is designed to maximize Ghana's human and economic potential. It includes incentives such as tax breaks, reduced electricity tariffs during off-peak hours, and financial support for agro-processing and manufacturing. The initiative also emphasizes collaboration with the private sector to create sustainable, well-paying jobs. Key sectors targeted include agro-processing, manufacturing, transportation, and public services like customs and passport offices.

Recommendations and Suggestions
1. Job Creation and Economic Inclusion: Operating on a 24-hour cycle will generate employment opportunities for thousands of Ghanaians, particularly women and youth, while fostering inclusivity across various sectors.

2. Boosting Industrial and Economic Output: Continuous operations will increase productivity, ensuring both domestic needs and export demands are met, thereby strengthening Ghana's industrial backbone and foreign exchange earnings.

3. Energy Optimization: Incentives like reduced off-peak electricity tariffs will encourage businesses to optimize power usage, contributing to both cost savings and sustainable energy management.

4. Strengthening the Local Currency: Enhanced export capabilities and reduced reliance on imports will stabilize the cedi, fostering financial growth and investor confidence.

5. Modernizing Public Services: Extended operating hours for public institutions will streamline processes, eliminate bottlenecks, and enhance efficiency, directly benefiting citizens and businesses.

6. Reducing Unemployment and Poverty Levels: Increased job creation will improve living standards, contributing to poverty alleviation and a thriving middle class.

Addressing the "Comatose Economy"
The initiative also seeks to repair the economic challenges inherited from the previous administration, which struggled with high operating costs, unreliable power supply, and bureaucratic barriers. While the NPP may defend their tenure citing some achievements, the pressing reality remains that these efforts fell short of addressing Ghana's structural economic needs. The 24-hour economy policy is a strategic response to these issues, focusing on long-term resilience and growth.

Conclusion
The 24-hour economy is not just a policy; it is a visionary approach to redefining Ghana's economic trajectory. Given that President Mahama’s administration has only been in office for three months, it is understandable that results may take time to materialize. Economic initiatives of this magnitude require sustained effort, collaboration, and patience.

To the micro minority caucus of the NPP, it is crucial to approach this initiative with a tone of constructive dialogue. Ghana needs unity and shared commitment to success, not divisive rhetoric. After eight years of power that were marked by misused opportunities, this is a moment to foster growth and innovation for the benefit of all Ghanaians. Let us build bridges, not walls, as we work towards a thriving and inclusive economy.

Retired Senior Citizen
Teshie-Nungua