Over 10,000 businesses register for govt support under 24-hour economy – Rashid Pelpuo
More than 10,000 businesses have registered to benefit from government support under the proposed 24-hour economy initiative, signalling strong private sector interest in measures aimed at boosting productivity, expanding operations and creating jobs.
The Minister of Labour, Jobs and Employment, Dr Abdul-Rashid Pelpuo, disclosed this during an interview on Eyewitness News on Citi FM on Thursday, July 9, saying the initiative is designed to strengthen businesses through a range of incentives that will enable them to operate more efficiently.
According to the Minister, government plans to support participating businesses by improving access to affordable electricity, providing working capital and making other essential resources available to enhance productivity.
“The next level is to give business incentives in the 24-hour economy, to create a situation where people can continue working. We are trying to let them have cheaper electricity, small working capital, increased working capital and the needed facilities within the scope of government provision to help them to be able to stabilise and to work,” he said.
Dr Pelpuo noted that interest in the programme has been encouraging, with thousands of businesses already signing up to access the proposed support.
“So many businesses have registered now. More than 10,000 businesses have registered seeking that help from government under 24-hour economy,” he stated.
He stressed that supporting businesses is central to government's strategy for generating sustainable employment, explaining that private sector growth depends largely on a stable and resilient economy.
“The first incentive you need is a stable, resilient economy and to keep the cedi strong,” he said.
The Minister added that government remains focused on maintaining macroeconomic stability by keeping inflation, exchange rates and interest rates under control to create a favourable environment for businesses to invest, expand and employ more people.
According to him, strengthening the operating environment for businesses will ultimately drive job creation and support long-term economic growth.