Fifi Fiavi Kwetey, the General Secretary of the National Democratic Congress (NDC), has praised the 24-hour economy proposal advocated by the party’s flagbearer, John Mahama, describing it as a groundbreaking initiative aimed at tackling Ghana’s escalating unemployment crisis and reshaping its economic landscape.
This endorsement comes in response to the alarming rise in Ghana’s unemployment rate, particularly among the youth, as reported by the Ghana Statistical Service.
Recent figures from the Annual Household Income and Expenditure Survey reveal that unemployment rates in Ghana have surged to 14.7 percent, with over 1.3 million jobless youth aged 15 to 35. The situation is particularly dire for females, whose unemployment rates surpass those of males.
In a Facebook post on March 5, 2024, Kwetey emphasised that Mahama’s 24-hour economy policy is designed to address this crisis. He clarified that the transformative initiative not only aims to reduce current unemployment figures but also intends to revolutionise Ghana’s economic landscape.
According to Kwetey, the policy envisions a robust collaboration between the public and private sectors to maximise the potential of the country’s human resources. By establishing a work environment operating beyond traditional business hours, Ghana can enhance capacity utilisation, achieve greater economies of scale and scope, and synchronise industrial operations with the global economy.
He stressed that the success of the 24-hour economy policy hinges on effective policy development, resource allocation, and leadership with a profound understanding of the intricacies of a nocturnal economy.
Kwetey highlighted that the policy signifies a commitment to fostering a thriving, round-the-clock economic culture that caters to the needs of every sector and empowers every Ghanaian to realise their full potential.
See Fifi Fiavi Kwetey’s Facebook post below:
Source: ghanaweb.live
