John Dramani Mahama, the former president, has expanded on his plan to create a 24-hour economy in order to create jobs and stimulate economic growth in the event that he wins the general elections in 2024.
Speaking on November 18, 2023, during the Sunyani Catholic Diocese’s 50th anniversary, Mahama stressed that, despite the dire state of the economy, there is still hope.
Although the finance minister Ken Ofori-Atta’s usage of the night economy was limited to the tourism environment, he pointed out that it was an indication that his concept for a 24-hour economy was beginning to take hold.
He emphasized that the concept is dependent on security and stable power and that participation will be optional rather than mandatory.
It was suggested by him that special meters will provide ‘time of use’ pricing after peak hours between 10 and 6 am to support various economic sectors in operating three shifts, or around the clock.
Mahama enumerated a variety of sectors that he believed would profit, including manufacturing, rubbish collection, filling stations, hospitality facilities, mining and extraction, and agro-processing.
“This 24-hour economy I propose will be voluntary, it will not be imposed. Businesses will be encouraged to sign up with tax incentives provided for them and enhanced security and lower electricity tariffs,” he told the congregation.