The National Democratic Congress (NDC) says the 24-hour Economy vision by its Flagbearer, Mr John Dramani Mahama, will be a deliberate policy intervention to support businesses to operate a three-shift system of eight hours each.
That will be done by creating an enabling environment that promotes productivity, competitiveness and well-paying jobs.
The party, in a statement copied to the Ghana News Agency on Tuesday, to throw more light on the 24-hour Economy, said it would be mainly anchored on Mahama’s overarching vision to create sustainable jobs for Ghanaians.
“This will be achieved through his agenda to modernise and mechanize agriculture; provide incentives for the private sector to thrive; promote agro-processing and manufacturing; transform Ghana into an import substitution and export-led economy, among other things,” it said.
Through that the national currency would be stabilsed, improve the nation’s reserves, bring down inflation and interest rates, create more employment opportunities and improve livelihoods.
The proposal, when it became a policy, would primarily, but not exclusively, focus on 24 hours of production activities in agro-processing, pharmaceutical industry, manufacturing, construction, and the extractives (mining and quarrying), the statement said.
Others are sanitation and waste management, Leisure and hospitality, Digital start-ups and Business Process Outsourcing (BPO), financial services, and transportation.
Selected public institutions with large customer traffic such as the Ports and Harbors, Customs, Passport Office and Driver and Vehicle Licensing Authority would be part of the 24-hour economy.
Education and training, health services, agriculture, the provision of affordable housing for workers, efficient public transport and efficient justice delivery would all be possible under the 24-hour Economy.
“It is all part of an ambitious drive by the NDC/Mahama administration to take Ghana to the next level in the global economy,” it said.
The policy would provide cheaper and reliable electricity for participating businesses based on a Time of Use (TOU) tariff system.