Mahama to launch 24hr Economy on July 1

President John Dramani Mahama met with business leaders on Wednesday. They discussed the new "24-Hour Economy Policy." This policy will launch on July 1, 2025.

The "24-Hour Economy Policy" aims to boost economic activity. It encourages businesses to operate around the clock or in shifts. The goal is to increase productivity and create jobs.

Over 200 participants attended the President's meeting. He described the 24-Hour vision as both a destination and a program. As a destination, it reflects high productivity and capital utilization.

This means operating in multiple shifts day and night. It maximizes returns on infrastructure, human resources, and innovation. The idea gained public support during the 2024 campaign.

As a program, it requires restructuring of the economy. President Mahama emphasized re-engineering production systems from top to bottom. This includes boosting volumes and diversity while focusing on value-added products.

He received a draft of the policy from his advisor, Mr. Goosie Tanoh, earlier this month. After reviewing it, he feels confident about its actionable framework.

A stable macroeconomic environment is crucial for success. This stability is being achieved through coordination between monetary and fiscal authorities. However, the program goes beyond just macroeconomic stability.

It focuses on production, enterprise, jobs, and exports. The approach addresses structural bottlenecks comprehensively through various sectors like finance and logistics.

One bold proposal is developing the Volta Lake Economic Corridor. This corridor will become a national production zone and logistics hub.

The 24-Hour Economy Policy document will be public on June 3, 2025. The government plans to decentralize the secretariat to district levels for wider access.

President Mahama announced that they will officially launch the program on July 1st, Ghana's Republic Day.