The former President and the National Democratic Congress flagbearer, John Dramani Mahama has pledged that when elected into power in 2025 his administration would provide tax reliefs and subsidized power for companies under its 24-hour economy policy.
The former President while delivering his New Year message to Ghanaians expressed confidence that businesses that would sign up for the ‘24-hour system’ would help accomplish his vision of revitalising the country’s ailing economy, maximising productivity and efficiency, and ultimately creating a dynamic and vibrant economy to benefit both workers and businesses.
According to Mr Mahama, the implementation of the 24-hour economy policy would begin through the establishment of an Accelerated Export Development Council.
He noted that the council aims to boost the country’s export drive by leveraging the Economic Community of West Africa States (ECOWAS) Trade Liberation Scheme and the African Continental Free Trade Agreement.
“The 24-hour economy will succeed because we shall provide improved security and public safety which will require massive recruitment into the security services and private security operations. My government will provide cheaper and more reliable electricity for those participating businesses based on a time-of-used tariff system.
“Companies that sign up for the 24-hour economy will benefit from modern smart meters calibrated to charge a lesser tariff per kilowatt hour for power that is consumed during off-peak hours. Businesses that subscribe to the 24-hour economy policy will receive further tax incentives to reduce the cost of the operations and enhance their competitiveness”
Former President John Dramani Mahama
The National Democratic Congress flagbearer for the 2024 general elections thus emphasized that the 24-hour economy is revolutionary, noting that data indicates that developed countries like the United States of America, the United Kingdom and South Korea had been using similar models.
Furthermore, the former President recounted how leadership is needed to move Ghana from its current stage of underdevelopment to development, pointing out that South Korea is a live example of how a nation can move from underdevelopment to highly development with the right leadership.
The former President indicated that the South Korean country’s founders established a 24-hour economy in the 1960s, which fueled an export-led economy and ultimately contributed to their success story.
He emphasized that, given the current state of Ghana, implementing the 24-hour economy is the most appropriate thing to do.
“It will boost our manufacturing industry and transform our country into an export-led economy providing the world with goods made in Ghana”.
Former President John Dramani Mahama
Mahama Accuses NPP of Dashing The Hope Of Ghanaians
Moreover, former President John Dramani Mahama accused the governing New Patriotic Party administration of dashing the hope of Ghanaians and thus urged Ghanaians to vote against the ruling party in the 2024 general elections.
Mr Mahama further stated that democracy and the economy cannot thrive without trusted and true leadership.
“Willing nations can only become great if they have quality and trusted leadership. When things are tough, true and trusted leaders set up a vision that inspires people and gives them hope. And this hope provides us with the strength we need to move forward. When hope is gone the people who destroyed your hope must also go.
“They will go on December 7th 2024 without hope there is danger everywhere you turn. This is why the fundamental duty of any true leader is to instil hope where there is none or to revive it when it is gone. A true leader must cause positive change by example and action”.
Former President John Dramani Mahama
The National Democratic Congress flagbearer concluded by assuring Ghanaians that when elected as President of the country, he would undertake strategic steps and measures to change the economic fortunes of the country.
He stated that the National Democratic Congress (NDC) government in 2025 will introduce a new budget that will adjust taxes to create incentives for businesses to create jobs and opportunities for all young people in the country.
