24-HR initiative competitive tool — Henry Osei Akoto

A leading member of the governing National Democratic Congress (NDC), Henry Osei Akoto, has said that the 24-Hour Economy initiative launched by the John Dramani Mahama-led government will open up Ghana’s economy for growth. 

He said the “bipartisan initiative” was the surest way to compete on the global stage in terms of economic growth and expansion.

Speaking in an interview following the launch of the policy, which is also known as 24H+ Agenda, last Wednesday, the NDC parliamentary candidate aspirant for Oforikrom in the Ashanti Region in 2020 said Ghana lost more money from hours of sleep, as compared to the hours the nation stayed productive.

“The 24-Hour Economy has been the mantra and policy we have been marketing over the years, and every Ghanaian knows it.

So, people who say it is an afterthought are mistaken,” Mr Osei Akoto said. 

“What we are telling Ghanaians is that the only way to expand the economy, to open up the economy, to create opportunities in the country as we speak now is to work beyond the eight-hour practice we have now. We should be working for 24 hours (a day).

“The country shouldn’t sleep.

The hours we used to sleep are moneys gone, and so if we want to be part of the current dispensation of the 21st-century world economy, then we have to open up the country by making sure we are working 24 hours (a day),” he explained.

Call for support

Mr Osei Akoto, who is also a one-time National Organiser aspirant of the NDC, consequently called on the entire nation to support the policy, insisting that the launch of the initiative was in fulfilment of a promise to transform the country’s work environment.

He added that the 24-Hour Economy would create opportunities for all, especially the youth, and help to expand the economy.

He further stressed that the policy had placed Ghana among countries currently benefiting from working around the clock.

“The launch of the 24-Hour Economy initiative by the President is a laudable idea.

We all remember that before the elections, he was going around the country telling people that he was going to expand the economy, create opportunities for the youth, and that there was going to be more money in the economy, and he was going to propel that through the 24 Hour Economy policy.

Looking at what he’s done today, it affirms what he said a few months back, and Ghanaians should support him. 

“It is a good initiative. It is happening everywhere in the world. You don’t go to Europe and see a whole country asleep after 10 p.m.

Not only in Europe but even in some African countries.

Go to North Africa, go to Egypt, go to Morocco and other places and see what is happening there.

So, we all have to embrace this thing because it is a good thing that I believe will create opportunities for Ghanaians and will open up the economy for more money and prosperity to come into it,” he added. 

Background

The 24-Hour Economy and Accelerated Export Development Programme, also referred to as 24H+, is a flagship initiative of the Mahama-led administration.

It seeks to re-engineer Ghana’s productivity framework by extending economic activity beyond traditional working hours and integrating key sectors into a seamless, efficient value chain.

The transformative programme comes with a projected cost of $4 billion.

The government is committing between $300 million and $400 million as seed capital to cover viability gaps and attract private sector investments.