John Dramani Mahama, the flagbearer for the National Democratic Congress (NDC), has laid out a bold strategy to drive economic growth and support a 24-hour economy should he win the 2024 presidential election. Speaking at the party’s manifesto launch in Winneba on August 24, 2024, Mahama revealed a comprehensive plan to boost key sectors like security, infrastructure, and energy, aimed at creating a more dynamic and efficient business environment.
Mahama’s vision centers on creating an economy that operates round the clock, with strategic investments in infrastructure and security to ensure businesses can thrive safely and efficiently. The introduction of a ‘Time-of-use’ tariff system will provide businesses with cheaper electricity during off-peak hours, helping to reduce operational costs and encourage extended business hours.
In addition to infrastructure and energy, Mahama also promised significant tax incentives and financial support for businesses. He outlined plans to work with the Ghana EXIM Bank to provide financial assistance to industries like agro-processing and manufacturing, boosting exports and solidifying the country’s industrial base.
Small and medium enterprises (SMEs) are set to receive substantial backing, with promises of investments to help them expand, create jobs, and contribute more to the national economy. According to Mahama, these measures will alleviate the financial pressures on businesses, allowing them to grow rapidly.
The NDC flagbearer also reiterated his stance on removing the 10% betting tax and revisiting the controversial Electronic Transaction Levy (E-Levy). Mahama, who has long criticized these taxes for stifling growth, emphasized his commitment to exploring alternatives that would ease the burden on citizens and businesses alike.
Furthermore, Mahama pledged to revive collapsed banks and financial institutions, believing that their restoration would create more jobs and stimulate the economy. His plan aims to foster a business-friendly environment that will not only drive production but also boost demand for goods and services across various sectors.
With these promises, Mahama is positioning himself as a champion of economic reform, ready to tackle the challenges facing Ghana and ensure businesses have the support they need to thrive in a 24-Hour Economy Policy.
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