Sunyani: Local entrepreneurs and industries in the Sunyani Business Community have raised concerns about the irregular power supply and intermittent fluctuations, fearing these issues may obstruct the implementation of the government's 24-hour economy programme.
According to Ghana News Agency, the local business leaders have embraced the 24-hour economy concept with high expectations for job creation and poverty reduction. However, they emphasize that consistent electricity supply is crucial for the nation to fully benefit from the programme.
The 24-hour economy is an ambitious transformation agenda introduced by President John Dramani Mahama. It is a national production-led reset intervention aimed at job creation, transitioning the nation from an import-dependent, low-value raw material exporting economy to a modern, self-reliant, and globally competitive one. The programme aims to deliver productivity, sustainable growth, jobs, and food security by operating around the clock.
In an interview, Mr. Ransford Antwi, CEO of Suncity Group of Companies, highlighted the importance of regular electricity, stating: "In an era where government is talking about a 24-hour economy, regular electricity remains the backbone." He pointed out that power fluctuations disrupt economic activities and impede efforts toward advancing robust industrialization. He urged the Volta River Authority (VRA) to establish more patrol teams to attend to night emergencies as the government finalizes the 24-hour economy execution modalities.
Mr. Michael Asare, CEO of McKenzie Ghana Limited, a local garment manufacturing company, observed that power stability is essential for the private sector to contribute positively to the 24-hour economy's success. He expressed concerns that instability in electricity supply could frustrate the programme's implementation. Mr. Asare noted that while generators could back power supply, they would be expensive and create an unfriendly business environment for the private sector.
Mr. Kofi Vinyo, CEO of Kofi Vinyo Company Limited, an organic agro-processing company, emphasized the integral role of the private sector in the programme's success. He called on the government to support private businesses and industries involved in the 24-hour economy to procure plants to augment electricity supply. He suggested the government provide long-term loans for local manufacturers and industries to procure the necessary plants, as substantive power generation is needed for the private sector to support the programme.