John Dramani Mahama, the current presidential candidate of the National Democratic Congress (NDC) and a former president of Ghana, has stated that if elected in 2024, he will begin laying the foundation for a 24-hour economy.
Mahama emphasized in a BBC interview that although Ghana may not completely migrate to a 24-hour economic system during his four-year term, major progress may be made to start the process.
“We will start, at least, you can’t put a cost on it immediately. The 24-hour economy is not an event; it is a process. Even while we’re stabilizing the macroeconomic environment, reducing inflation, and bringing down interest rates, we will be implementing steps toward this goal.” he reiterated.
Mahama addressed misunderstandings by stating that changing the economy would not happen immediately.
“You’re thinking about it as if we will wake up overnight, as soon as I’m sworn in, and have a 24-hour economy. No. It doesn’t work that way. But we can begin creating the conditions to make it happen,” he said.
Mahama emphasized the advantages of such a change in the economy, especially in terms of increasing employment.
“If you incentivize businesses to run for 8 additional hours, they can’t do so with the same number of employees. They will need to hire more people. The demand is there—we have the African Continental Free Trade Area (AfCFTA) and the ECOWAS Trade Liberalisation Scheme to leverage.”
The idea of a 24-hour economy has become popular throughout the world, and industrialized countries are utilizing it to increase employment and productivity.
Mahama’s plan for Ghana aims to reduce unemployment while increasing economic output, especially in the industrial and commercial sectors. But it also faces real-world issues including energy supply, infrastructure readiness, and societal trends toward longer workdays.
Regarding politics, Mahama didn’t hold back while addressing issues with election transparency. He was straightforward when asked if he would accept the outcome of the election.
“If on the election day there is widespread ballot snatching, people are beaten, the military moves in to intimidate voters, and thugs rampage, you want me to accept that result? It will depend on the transparency and fairness of the process,” he expressed.
Source: newsthemegh.com