Mahama Unveils Comprehensive 24-Hour Economy Plan at NDC Manifesto Launch
John Mahama, the flagbearer of the National Democratic Congress (NDC), has unveiled a detailed policy package aimed at catalyzing the development of a 24-hour economy in Ghana.
Speaking at the NDC’s manifesto launch in Winneba, Mahama outlined a series of targeted investments and reforms designed to invigorate businesses operating beyond traditional hours.
Central to the former president’s proposal is a significant commitment to bolstering infrastructure, security, and energy resources.
Mr Mahama emphasized that a robust and secure environment is essential for the success of a 24-hour economy, underscoring plans to enhance both public and private security measures. These improvements, he noted, would be critical in ensuring that businesses can operate safely and efficiently around the clock.
A cornerstone of Mahama’s economic strategy is the introduction of a “Time-of-Use” tariff system. This initiative aims to provide businesses with access to cheaper, more reliable electricity during off-peak hours, thereby reducing operational costs and encouraging extended business hours.
The tariff system, according to Mahama, is intended to be a major incentive for businesses to embrace the 24-hour economy model.
Mahama also proposed a series of tax incentives aimed at easing the financial burden on businesses, particularly those in the agro-processing and manufacturing sectors.
The NDC leader pledged that, under his administration, the Ghana Exim Bank would play a crucial role in providing financial support to these sectors, with a focus on boosting exports and reinforcing the country’s industrial base.
Furthermore, Mahama highlighted the importance of supporting small and medium-sized enterprises (SMEs), which he described as the backbone of the Ghanaian economy.
He committed to providing catalytic investments to help these businesses scale up their operations, create jobs, and make a more substantial contribution to the national economy.
Mr Mahama’s comprehensive package reflects a strategic vision aimed at transforming Ghana’s economic landscape by fostering an environment conducive to continuous business activity, ultimately driving growth and development.
