In a bold move to revitalize Ghana’s economy, former President John Dramani Mahama has announced a comprehensive support package aimed at boosting the country’s 24-hour economy.
Speaking at the National Democratic Congress (NDC) manifesto launch in Winneba, Mahama outlined a series of strategic initiatives designed to inject life into businesses operating around the clock.
According to Mahama, the move marks a significant shift in the economic policy, building on his previous efforts to stimulate economic growth during his presidency.
In 2013, Mahama launched the “Better Ghana Agenda,” which aimed at accelerating economic development through investments in infrastructure, education, and healthcare.
Although the agenda showed promise, its implementation was hindered by challenges such as corruption and mismanagement.
Former President John Mahama’s new plan addresses these challenges head-on, with a focus on creating a conducive environment for businesses to thrive.
He said the packages include significant investments in infrastructure, security, and energy, all essential for supporting a vibrant 24-hour economy, adding that the introduction of a “Time-of-Use” tariff system is a game-changer, providing more affordable and reliable electricity for businesses during off-peak hours.
Additionally, Tax incentives and financial assistance through the Ghana Exim Bank will also ease the burden on businesses, promoting their growth and exports. Small and medium-sized enterprises (SMEs), which have long been the backbone of Ghana’s economy, will receive catalytic investments to help them expand and generate jobs.
-BY Daniel Bampoe