Former President John Dramani Mahama has reiterated that his 24-hour financial system proposal is a game-changer for the Ghanaian financial system.
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“We shall vigorously pursue the 24-hour economy, amongst many other initiatives, as part of our broader vision and determination to increase economic growth, create jobs, and improve the quality of life of Ghanaians,” the flagbearer of the National Democratic Congress (NDC) stated on his X platform.
The 24-hour financial system is a game-changer for the Ghanaian financial system. It will profit your companies, employment and the enjoyment of the youth who’re searching for jobs.
We shall vigorously pursue the 24-hour financial system, amongst many different initiatives, as a part of our broader imaginative and prescient and…
— John Dramani Mahama (@JDMahama) December 7, 2023
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Mr Mahama proposed the ’24hr Economy ‘ venture when he met with officers of the nation’s mom staff union on Tuesday, November 7, 2023 in the beginning of his engagement with key stakeholders in a quest to return to energy.
The NDC subsequently defined that the 24-hour economy proposal will concentrate on 13 industries.
The social gathering stated the proposal is a part of an formidable drive by the following Mahama administration to take Ghana to the following degree within the international financial system.
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According to data contained in a Frequently Asked Questions (FAQs) sighted by 3News.com, “The 24-hour economy will therefore primarily, but not exclusively, focus on: “ 24-hour Agro-processing, 24-hour Pharmaceutical industry, 24-hour Manufacturing industry, 24-hour Construction, 24-hour Extractive industry (mining and quarrying), 24-hour Sanitation and waste management and 24-hour Leisure and hospitality industry.”
The relaxation are; 24-hour Digital start-ups and Business Process Outsourcing (BPO), 24-hour Financial providers, 24-hour Retail facilities, 24-hour Transportation providers, and chosen public establishments with giant buyer site visitors corresponding to Ports and Harbors, Customs, Passport Office, DVLA, amongst others will probably be a part of the 24-hour financial system.”
“The 24-hour Economy will be a deliberate policy intervention by the next NDC/Mahama government to encourage and support certain businesses and companies to operate 24/7, preferably in a three-shift system of 8 hours each, by creating an enabling environment that promotes productivity, competitiveness and well-paying jobs,” the doc additional clarified.
“The 24-hour economy will also be implemented within the context of other national development initiatives, such as education and training, health services, agriculture, the provision of affordable housing for workers, efficient public transport, efficient justice delivery, among others,” the social gathering famous.
The data within the doc additional indicated that “Ghana‘s economy will be mainly anchored on Mahama’s overarching vision to create sustainable jobs for Ghanaians. This will be achieved through his agenda to: modernize and mechanize agriculture; provide incentives for the private sector to thrive; promote agro-processing and manufacturing; transform Ghana into an import substitution and export-led economy, among others.”
According to the NDC, “This will stabilize our nationwide foreign money, enhance our reserves, convey down inflation and rates of interest, create extra employment alternatives and enhance livelihoods.
The main opposition social gathering famous that, “It is all part of an ambitious drive by the NDC/Mahama administration to take Ghana to the next level in the global economy.”