The President of the Republic, John Dramani Mahama, has officially launched the policy document for the 24-hr Economy as a key fulfillment of the manifesto pledge of the ruling National Democratic Congress.

The development comes on the back of a clarion call by sections of the populace to see the government carry out the policy as promised during the 2024 electioneering campaign.

Speaking at the event today, July 2, John Dramani Mahama intimated that the policy will be a game changer and a driving force to move the economy to greater heights whilst guaranteeing more jobs for the citizens and more revenue for the country.

This policy will work across multiple sectors in the economy to create sustainable jobs for the teeming numbers of our young people who are not currently engaged in any meaningful jobs after school, and help us maximize the untapped potential of the national economy in the long run.

“The 24-hr Economic Policy and Guidelines is part of our broader agenda as a government to reset the national economy and utilize the untapped potential of our young and burgeoning population alongside our natural resources God has blessed us with to move Ghana beyond conditional handouts by development partners, which does not facilitate inclusive growth across board.

Today, we tap into the idealist visions of our nation’s First President, Osagyefo Dr. Kwame Nkrumah, which sought to place Ghana at the centre of its affairs by being self-reliant, inclusive, and an industrious nation that works with its creativity to full self-development.”

Mr Mahama further added that the main aim of the programme is not to only increase the traditional working hours in the country, but to stimulate economic productivity, accelerate exports for both semi-finished and finished products, whilst generating inclusive economic growth across key sectors of the economy namely; agriculture, manufacturing and logistics, pharmaceuticals, infrastructure and textiles.

“This duly launched game changing policy is the collective answer to move Ghana’s continued economic trajectory from slogans to strategy that impacts lives of millions of Ghanaians who were excited by this policy and voted massively for us the (NDC) to come into power to make it a reality as evidenced by today’s events.

The launch is not only symbolic but a stepping stone to a national mobilization of our collective energies to see Ghana break through the yoke of the global economic order.”

The programme, the President stressed, will rest heavily on the shoulders of the private sector, which has long been identified as the engine of growth for the country.

The initiatives will be fine-tuned and streamlined by government policy and tax incentives, which will empower the private sector to reach its fullest potential in line with the country’s reputation as one of the business-friendly nations on the African continent.

The end goal of the project is to create an estimated 1.7 million sustainable jobs over four years, reduce import dependency, and reposition Ghana as a suitable investment vehicle for global trade and business.

The policy initiative is being backed by a $4 billion investment portfolio, with the government providing between $300 million and $400 million as seed capital, to attract substantial cash inflows from private sector players both at home and abroad in the long run.

|univers.ug.edu.gh