Ghanaian Economist and Director of Operations at Dalex Finance, Joe Jackson has urged NDC flagbearer John Mahama to stop promising a 24-hour economy if elected president.
In his view, no government can impose a 24-hour economy on Ghanaians.
Joe Jackson heavily scrutinized the 24-hour economy strategy after the 2024 fiscal budget was read by the Finance Minister on the floor of Parliament on Wednesday 15th November 2023.
He pointed out that the ruling party should focus on making the economy attractive to Ghanaians and investors instead of announcing that the government intends to improve the night economy to boost tourism in the country.
“The important thing is that you cannot impose a 24-hour economy. You can only provide incentives for the 24-hour economy and trust that entrepreneurs would risk their capital and businesses to join in. If there is somebody ready, and if there are enough people ready to eat fufu at midnight, I assure you somebody will be pounding fufu at midnight. If there is enough market for me to share my locally produced chips, then I assure you I will produce chips,” he told Citi TV.
The Director of Operations at Dalex Finance added that he would first ask for forgiveness if he isn’t too happy about the policy but, “As a business expert I look into certain issues – Is there a market? Is there somebody to buy what I want to produce? Can I produce it at a cost that makes sense? Would I find the right input, including raw materials and people, to do it?”.
Joe Jackson reminded Ghanaians that in the 2020 general elections, the flagbearer for the opposition party the NDC promised to introduce a 24-hour economy if elected and subsequently vowed to make such an initiative a reality.
Nonetheless, Joe Jackson asked that there is a need for comprehensive market research and consideration of economic factors before implementing such a policy.
“As a government, you have been promised to create a framework, make sure that inputs are at competitive prices so that power is available, and I am sure that your entrepreneurs would work without a problem; they would sign on without a problem,” he ended.
By: Edem Etsa Dorvlo | Metrotvonline.com | Ghana