Business & Economy

24-Hour Economy risks becoming 'another slogan' - GNCCI CEO warns

Abubakar Ibrahim•1d ago•527 words · 3 min read

Summary

Mark Badu Aboagye, CEO of the Ghana National Chamber of Commerce and Industry (GNCCI), warned that the proposed 24-hour economy risks becoming another policy slogan without proper incentives and execution. Speaking on PM Express on Joy News, he said, "Interesting listening to the two politicians from the two sides. Well-documented policies, well-articulated policies, but implementation has always been the challenge." He also stated that the private sector remains central to the success of the policy.

Mr. Badu Aboagye confirmed ongoing consultations with the government regarding the 24-hour economy policy. He suggested more needed to be done and mentioned a planned meeting with Gossie Tannoh that was postponed. He pointed to the One District One Factory (1D1F) initiative as an example of a policy that fell short due to execution gaps. He said that the government employs just 6% of the total labour.

Mr. Badu Aboagye questioned whether the 24-hour economy is truly being positioned as a private sector-driven initiative beyond rhetoric. He noted that previous policies like 1D1F had built-in incentives. He warned that without deliberate effort, the 24-hour economy could fail to deliver results.

Quick Summary

The CEO of the GNCCI, Mark Badu Aboagye, has expressed reservations about the proposed 24-hour economy. He cautions that the initiative may become just another slogan - if the right structures aren't in place.

#24-hour economy #GNCCI #private sector #implementation #Ghana

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