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I don't understand 24-hour economy — Kwame Pianim

Ghanaian economist Kwame Pianim has raised doubts about the practicality of former President John Mahama's 24-hour economy initiative.

Kwame Pianim

Pianim stressed the pivotal role of electricity in sustaining such an economy, pointing out the current challenges the nation faces with businesses operating on single shifts.

During a February 26, 2024 interview on Joy News, he advocated for a thoughtful approach to economic and policy decisions, underscoring the importance of addressing current challenges rather than proposing potentially difficult-to-achieve initiatives.

He said "People are talking about the 24-hour economy but I don’t understand it. What is it? We don’t even have electricity for one shift so where are we going to get electricity for three shifts?

"We started the 24-hour economy. I was Minister of Finance and we told PwD that all the repairs should be done at night so that traffic would move. But when they started doing that the managers were refusing to go and supervise because they didn’t have security to go around.

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"So, let’s think through everything carefully and say what we can do now. There is nowhere in the world that they run a 24-hour economy."

The 24-hour economy policy, according to the NDC, is a policy to transform Ghana into a modern and vibrant economy that operates around the clock, thereby creating more opportunities for businesses and jobs.

The policy will maximise the potential of agriculture and agribusiness and provide critical social and IT infrastructure to stimulate economic growth.

The 24-hour economic policy priorities will imbue the young people with the knowledge, abilities, values and attitudes needed to live in, develop and support a sustainable and resource-efficient society— the critical Green Skills the youth need to advance a sustainable world.

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