The Group Chairman of Allied Consortiums, a South African-based conglomerate, Mr. Benjamin Kofi Quashie has mounted a strong defence for John Mahama’s 24-hour Economy policy as he rallies Ghanaians to buy into it.
The business mogul who has reposed full confidence in the next Mahama-led administration to implement the policy to boost the battered image of the Ghanaian economy, has also disabused the minds of those who think that Ghana is not ready for such policy, insisting it is feasible.
Speaking in an interview with Ghasa Radio in South Africa on Tuesday to expatiate on the policy, following his lecture on the policy on Sunday, Mr. Quashie asserted that the 24-Hour Economy is a well thought through policy.
The opposition National Democratic Congress touts the policy as the most revolutionary solution to the critical problem of high unemployment confronting Ghanaians, especially the youth.
The businessman who is also the Chairman of NDC Council of Elders in South Africa said wide consultations are ongoing with industry players and all the necessary and relevant bodies to ensure that the policy succeeds.
“Every time there are consultations that are going on – consultations with businessmen, consultations with the private sector – people are putting in the inputs that will ensure that there is a smooth take off. It is not something that we will wait to come to power before doing consultations. The blue print is being drafted as we speak.
“… It is not that when we come we say this company should come and do a trial and error thing. No, we are not doing the trial and error thing. We are ensuring that the moment we take off as the next government, we will do what we have to do to ensure that the 24-Hour Economy comes to stay. Businesses that need to be registered to work under the economy would be registered, businesses that need to be given support would be given support. And everyway along the line, they would be monitored, they would be encouraged, and they would be put in the right ways that would inure to the benefit of Ghanaians.”
Mr. Benjamin Quashie, for instance used South Africa as a case in point were some government institutions offer services to the public even at night, something he said can easily be replicated in Ghana, among others, to take the economy out of the current “mess”.
Introducing an 8-hour shift system, he reiterated, can clear the backlogs at DVLA, Passport Office among others, adding that the private sector would be the focal point with a deliberate effort by the state to provide security to persons who want to work overnight.
The South African Council of Elders Chairman was confident, “Even though it is a freewill thing, a lot of companies will sign in because at the end of the day we are going to look at the surge in productivity, we are going to look at the surge in employment, we are going to look at the surge in money getting to everybody in the Ghanaian economy. And it is clear that it is not going to be hanged over the neck of everybody, but it is a policy that everybody would be encouraged to sign up to.”
He noted that the blueprint on the 24-Hour Economy would be out soon with further details including the benefits the private sector would get when they sign on to the policy.
Further justifying the policy, Benjamin Quashie referred to the USA where he said about 30 percent of their workforce work at night, adding that the UK with 17 percent of the workforce working at night was able to add about 26.3 billion pounds in value to the UK economy within a year after implementing the 24-Hour Economy. He was therefore certain that Ghana can rake in such benefits.
What is the 24-hour Economy all about:
It is 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 main driver of 24-hour Economy policy:
- It 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
- It will be a major boost for John Mahama’s import substitution and export drive. This will stabilize our national currency, improve our reserves, bring down inflation and interest rates, create more employment opportunities and improve livelihoods.