Provision of resources & incentives for institutions will make 24-hr economy work – Mahama

The flag bearer of the opposition NDC, former President John Mahama, has reiterated his commitment to fulfilling his campaign promise of a 24-hour economy.

Vice President and leader of the governing NPP, Dr Mahamadu Bawumia, has dismissed Mr. Mahama’s understanding of the 24-hour economy policy.

He said the policy was not novelty since it is already being implemented in Ghana through the extended operations of hospitals, fuel companies, and some ‘chop bars.

Responding to critics of the promise, Mr Mahama stated that he knew some companies operate around the clock but was quick to add that the current development was not enough for economic transformation.

Emphasising on the possibility of  the policy, he stated that a future NDC government would facilitate its implementation by providing necessary resources and incentives for interested institutions to make it easier for everyone to participate.

He made the comment during a meeting with some NDC party executives in the Western-North Region as part of his two-day tour of the area dubbed “Building Ghana Tour.”

NDC’s Approach to 24-hr economy

The 24-hour economy policy will be a major boost for the next NDC administration’s import substitution and export drive under John Mahama.

A Mahama government will leverage it to stabilize the national currency, improve Ghana’s reserves, bring down inflation and interest rates, create more employment opportunities and improve livelihoods.

Mahama has pledged that his government will create an enabling environment for businesses and companies to operate 24/7 by providing an atmosphere of improved security and public safety.

He pledges that his government will provide cheaper and reliable electricity for participating businesses based on a Time Of Use (TOU) tariff system.

Mahama has also promised Companies that sign unto the 24-hour economy policy modern smart meters which will be calibrated to charge a lesser tariff (per KW/h) for power consumed during off-peak hours.

Tax Incentives will also be given businesses that subscribe to the 24-hour Economy policy to reduce the cost of their operations and enhance their competitiveness.

The NDC government pledges to provide financing support  for certain strategic agro-processing factories and manufacturing companies to boost production for import substitution and exports.



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