Accra: The 24-Hour Economy initiative presents a significant opportunity for Ghana, but its success hinges on active participation from all stakeholders.
According to Ghana Web, President Mahama has taken an unprecedented step by opening an Expression of Interest (EOI) registration process prior to finalizing the implementation framework. This move invites businesses, workers, and investors to contribute to the policy's design by sharing their needs and interests.
The EOI registration is seen as a critical step in ensuring that the voices of Ghanaian businesses, especially small and medium enterprises, are heard. Large corporations often have dedicated resources for advocacy, while smaller operators may struggle to have their concerns addressed. By participating in the EOI process, these smaller entities can secure their place in the consultation process, influencing the policy's final framework.
The potential benefits of a successful 24-Hour Economy in Ghana are substantial. It could lead to increased job opportunities, higher tax revenues, and greater investment. Such an economy would also provide young graduates with more career prospects within Ghana, reducing the need to seek opportunities abroad. Additionally, it would enhance the global competitiveness of local manufacturers by allowing them to operate at full capacity.
While there is skepticism about the initiative due to past policy failures, the 24-Hour Economy has the potential to break the cycle of inadequately designed and implemented policies. For this to happen, it requires the active engagement of businesses, workers' associations, and investors. The initiative is not just a government program but a national project that demands collective involvement from all stakeholders.
The EOI portal is now open, offering a straightforward and free process for registration. Stakeholders are encouraged to participate actively, shaping the outcome of Ghana's 24-Hour Economy. This opportunity represents a crucial moment for Ghanaians to take part in building an economy that operates around the clock, rather than passively observing from the sidelines. The choice to engage or wait is theirs to make.