Mahama details progress on 24-hour economy, institutional partnerships

President John Dramani Mahama has announced the start of the 24-Hour Economy policy. He emphasized that steps are being taken to implement this initiative.

In his address about the 120-Day Social Contract, he shared important updates. These include partnerships and legislative reforms to support the policy's launch.

The policy's secretariat is working with the Development Bank of Ghana and the Ghana Infrastructure Investment Banks. They aim to establish funding for this initiative.

Mahama mentioned that Cabinet has approved changes to two key laws. The Ghana Investment Promotion Act and the Ghana Labour Act will now include clauses for 24-hour operations.

Many public and private institutions are preparing to align with this policy. The Ministry of Foreign Affairs has started a 24-Hour Passport Service. Their passport application headquarters will operate around the clock.

The DVLA is also implementing a 24-hour service to clear a backlog of licenses. They plan to open a new office in Adenta, Accra, soon.

Additionally, the Youth Employment Agency will launch a program called GRICS. This program aims to connect graduates with firms operating 24 hours daily, targeting 20,000 graduates.

The YEA is collaborating with security agencies like Fire, Police, and Immigration Services. They plan to provide security for these firms and train 23,000 recruits for this purpose.

Furthermore, the Ministry of Energy and Green Transition will offer lower tariffs during off-peak hours. This incentive is aimed at companies participating in the 24-Hour Economy policy.

Mahama also stated he would penalize appointees who violate the Code of Conduct.