John Mahama’s proposal for a 24-hour economy in Ghana has ignited a fierce debate among economists, policymakers, and the public. While some view it as a visionary move that could revolutionize Ghana’s economy, others see it as a risky and impractical endeavour. As the discussion rages on, one question remains unanswered: Who is explaining the concept behind Mahama’s 24-hour economy?
Background of the 24-Hour Economy Concept:
The concept of a 24-hour economy revolves around the idea of maximizing economic activity by extending business hours beyond the traditional 9-to-5 schedule. This approach aims to boost productivity, create jobs, and stimulate economic growth. Countries like the UK and Singapore have successfully implemented variations of this model, with positive results.
John Mahama’s Vision:
Former President John Mahama has outlined a comprehensive plan to transition Ghana to a 24-hour economy. His proposal includes extending operating hours for businesses, improving infrastructure to support round-the-clock activities, and implementing policies to encourage businesses to adopt flexible working hours.
In a recent speech, Mahama emphasized the need for Ghana to embrace innovation and adapt to the changing global economy. He believes that transitioning to a 24-hour economy will not only create jobs but also make Ghana more competitive on the global stage.
Expert Comments on Feasibility and Practicability
Economists and policy analysts have offered mixed opinions on Mahama’s 24-hour economy plan. Some believe that it has the potential to stimulate economic growth and attract foreign investment. Others, however, are skeptical about its feasibility, citing concerns about infrastructure, workforce readiness, and the overall economic impact.
Experts have weighed in on the feasibility of Mahama’s 24-hour Economy. Dr. Seyram Kawor, a senior lecturer at the University of Cape Coast, asserts that it is indeed possible in Ghana. While some companies already operate 24 hours using shift systems, the challenge lies in maximizing workforce engagement during these extended hours Thoughtful planning, investment in human capital, and balancing productivity with well-being are crucial for success. Prof. Lord Mensah of the UGBS is also quoted as saying “Our economy is fully dollar-denominated. How do we reduce it? We need production. We need an economy that can produce and bring in more dollars and the 24-hour economy should be targeted very well in certain key areas. It should be able to bring us more inflows and that will stabilize the currency. The 24-hour economy is the best sellable policy as we speak now if you look at the current state of the Ghanaian economy”. On the other hand, people like Polster Ben Ephson have stated “Let me give you a typical example of strategy. If John Mahama had announced the 24-hour economy-a-month voting, he would have gotten the advantage of people thinking that it could work. “Within a month there would be discussions and as people are going to vote, they would give him the benefit [of the doubt]. He announced it too early. Now, virtually, the 24-hour economy euphoria is gone,”
The NPP’s Stance: Opposition or Fence-Sitting?
The New Patriotic Party (NPP) has been quick to criticize Mahama’s proposal. Vice President Dr Mahamudu Bawumia champions a digitized economy driven by technology, while Mahama pushes for a 24-hour model. The NPP’s argument? A resilient 12-hour digitized economy may be more practical than a round-the-clock operation. But is this genuine opposition or mere political noise?
Who Is Explaining the Concept?:
A puzzling aspect of the debate is the absence of key figures from Mahama’s administration, such as former finance minister Seth Tekper, Kwabena Donkor, Fiifi Kwetey, prosper Douglas Bani, Kwesi Awhoi,Ricketts-Hagan, Spio Garbrah, Alex segbefia and key figures who held positions in key ministries which are pivotal to the success of this policy, who are conspicuously missing in the frontline effort to educate and shape the conversation on the 24-hour economy plan. These individuals, known for their technical knowledge and experience, would have been expected to spearhead the education and explanation of the plan. A cursory view of both TV and radio discussions would showcase the usual political communicator who may not have a full grasp of the issues and thus not sound convincing enough.
For such a bold move which has become the lifeline of the Mahama 2024 campaign, one would have expected that these known heavyweights within the former government would be leading the pack on TV and radio. On the other hand, could it be that the very youthful new leadership of the party’s executive are the ones not scheduling them for major TV and radio discussions? Our checks indicate that the ndc has a communications bureau which determines who goes on what platform to speak on what matter. But it must be emphatically stated that the absence of these key figures takes a huge toll on the 24-hour economy policy.
Public Perception and Debate:
Public opinion on Mahama’s 24-hour economy plan is divided though largely in favor of the policy. While some see it as a bold and innovative strategy to boost Ghana’s economy, others are skeptical about its feasibility and potential impact. The debate over Mahama’s 24-hour economy plan is expected to continue as Ghana prepares for the 2024 elections. The outcome of the elections could determine the fate of the proposal and its implications for Ghana’s economy in the post-election period.
Conclusion:
As Ghana considers the possibility of transitioning to a 24-hour economy, the debate over Mahama’s plan continues to captivate the nation. While the former president and his supporters remain optimistic about the benefits of the proposal, critics raise valid concerns about its feasibility and potential risks. As the clock ticks towards the 2024 elections, all eyes are on these former political stalwarts who enjoyed the media limelight and benefits as ministers within the previous administration to see who will rise up to the occasion to explain the various aspects of Mahama’s 24-hour economy to the nation.
