Oppong-Fosu endorses former President Mahama’s 24hr economy plan
Former Minister of State Akwasi Oppong-Fosu, has lauded the 24-Hour Economy Vision policy proposed by former President John Dramani Mahama, likening it to the phoenix rising from the ashes to address the current unprecedented economic challenges in Ghana.
He emphasized that the initiative is a key strategy in the former president’s arsenal aimed at revitalizing the country’s fortunes.
The former State Minister highlighted the severe economic crisis, marked by the collapse of businesses, a surge in unemployment, extreme poverty, and widening inequality, leading to record-low living standards.
He expressed optimism that the 24-Hour Economy Vision would act as a silver bullet to turn the country’s situation around.
Oppong-Fosu outlined the vision’s pillars, including Social Sustainability, focusing on citizens’ well-being and dignity, economic sustainability with an emphasis on long-term growth and social equity, Environmental Sustainability to preserve the natural environment, and Human Capital Sustainability, investing in citizens’ continuous development.
Former President Mahama envisions a “Ghana We Want” that signifies inclusiveness, stability, and prosperity.
Oppong-Fosu expressed concern about social and political tensions in the region and stressed the need for a unified and sustainable approach to economic development.
The 24-Hour Economy policy, according to Oppong-Fosu, involves the state sector creating a conducive environment for continuous operation, with institutions like the Ghana Revenue Authority, Police, Companies Registry, and regulatory agencies adapting to support the initiative.
He believes that once the state sector lays the foundation, the private sector will seize the opportunity for growth.
Highlighting the focus on agriculture, Oppong-Fosu described the 24-Hour Economy policy as placing significant emphasis on the sector.
The plan includes establishing Agro-Economic Zones integrating technology and innovation to boost productivity across the value chain.
The aim is to create wealth, jobs, and reduce food imports, positioning Ghana to benefit from Africa’s food market estimated to reach $1 trillion by 2030.
To operationalize the 24-Hour Economy, Oppong-Fosu proposed the establishment of a Presidential Delivery Secretariat at various levels, including Ministries, Departments, Agencies, Regional Coordinating Councils, and local Assemblies.
He emphasized the need for a comprehensive approach, involving SMEs, traditional leaders, and local communities in partnership with diplomatic missions to promote made-in-Ghana products globally.
Undoubtedly, Oppong-Fosu believes that the 24-Hour Economy initiative will offer immense possibilities for sustainable social and economic opportunities for all Ghanaians.
The former Minister urged comprehensive support for the vision, considering its potential impact on the country’s economic landscape.
