Ghana’s Republic Day is set as the symbolic day to unveil what President John Dramani Mahama calls a bold national vision for development. The official introduction of his signature 24-Hour Economy strategy is scheduled for July of this year.
At a stakeholder consultative gathering at the Jubilee House, the former president declared, “We will officially launch the 24-hour Economy programme in July this year, most probably on Ghana’s Republic Day, which is a symbolic day for a bold new national agenda.”
Mahama clarified that the overarching objectives of the strategy are intended to propel Ghana’s economic expansion via consistent productivity in every industry.
“The 24-hour Economy policy reflects a state where Ghana’s productivity and capital utilisation will become so high that we will have to operate in multiple shifts across day and night, maximising the return on infrastructure, on human resources and innovation,” he said.
He disclosed that turning the Volta Lake corridor into a vital national production and logistics area will be a major component of the strategy.
“This corridor, centred on the Volta Lake and the Volta Basin, will become a national production zone and logistics fund.
“The plan envisions cultivating over two million hectares of arable lakeside land, revitalising the fishery sector on the lake, and creating a chain of industrial parks that produce goods for domestic and regional markets.”
Mahama went on to say that public-private partnerships would be essential to advancing infrastructure and attracting investment in order to assist the transformation.
“New floating assets, lake ports and long-term investment partnerships will be developed in coordination with the Volta River Authority (VRA) and the private sector,” he explained.
“On financing, the Development Bank of Ghana and the Venture Capital Trust Fund will scale up value chain finance for SMEs, cooperatives, and agribusiness in priority sectors,” he added, highlighting the funding sources that would support the project.
Mahama summed up the goal by emphasizing that the 24-hour economy is a national purpose to achieve equitable and sustainable growth rather than just a political commitment.
“The 24-hour Economic policy is not just a policy; it is a national compact for shared growth, for decent jobs, for competitive exports, for thriving local economies and long-term prosperity, and we now have to move to the hard work of delivery together.”
Source: newsthemegh.com