Politics

24hours economic policy is the cure to Ghana’s economic crisis – Richmond Nana Bawuah

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Certainly! The 24-hour economy policy proposed by John Mahama aims to promote round-the-clock economic activity in Ghana. The policy recognizes that traditional working hours may not cater to the diverse needs and schedules of individuals and businesses. By extending operating hours, it seeks to maximize productivity, create more job opportunities, and stimulate economic growth.

Here are some key features and potential benefits of the 24-hour economy policy:

1. Flexible working hours: The policy encourages businesses to adopt flexible working hours, allowing employees to work during the time that suits them best. This can enhance work-life balance and boost employee satisfaction and productivity.
2. Extended business hours: The policy promotes longer operating hours for various sectors, such as retail, hospitality, entertainment, and transportation. This can cater to the needs of those who work unconventional hours or prefer to engage in economic activities during non-traditional time slots.
3. Job creation: The 24-hour economy policy has the potential to create more job opportunities, particularly for individuals who prefer or are available to work during non-standard hours. This can help reduce unemployment rates and improve livelihoods.
4. Increased consumer spending: With extended operating hours, individuals will have more opportunities to engage in economic activities, leading to increased consumer spending. This can stimulate economic growth and support local businesses.
5. Tourism and hospitality: The policy can attract more tourists and visitors by providing them with a vibrant and active economy that operates around the clock. This can boost the tourism and hospitality sectors, leading to increased revenue and job creation.
6. Enhanced productivity: By accommodating diverse schedules and preferences, the 24-hour economy policy can optimize productivity levels. It allows businesses to operate at their peak efficiency and ensures that individuals can make the most of their working hours.

It is important to note that the successful implementation of the 24-hour economy policy requires collaboration between the government, businesses, and other stakeholders. Adequate infrastructure, such as transportation and security, must be in place to support extended operating hours. Additionally, appropriate labor laws and regulations should be established to protect the rights and well-being of workers.

Overall, the 24-hour economy policy proposed by John Mahama aims to create a more dynamic and inclusive economy in Ghana, accommodating the diverse needs and schedules of individuals and businesses.

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