The Asantehene, Otumfuo Osei Tutu II, has called upon investors to back Ghana’s energy sector, highlighting its vital importance in the effective execution of the 24-hour economy.
During a meeting with representatives from Dream Power Africa, a solar energy firm, on Wednesday, May 21, at the Manhyia Palace, the Asantehene underscored that dependable electricity is crucial for the nation’s development.
At present, the government is discussing the concept of a 24-hour economy. For this initiative to succeed, it is essential that energy resources are accessible in rural regions, as industries will require them to operate effectively.
“From a broader viewpoint, this will contribute significantly to the nation’s development,” he remarked. The National Democratic Congress (NDC) has prioritized the 24-hour economy as a central policy commitment ahead of the 2024 general elections.
This initiative aims to promote continuous economic engagement across various sectors, including manufacturing, agriculture, healthcare, and information and communication technology (ICT), by motivating businesses and public entities to function in shifts throughout the day and night.
President John Dramani Mahama has characterized the 24-hour economy as a component of a larger industrialization strategy and a potential remedy for youth unemployment in Ghana.
He has emphasized that participation in this policy will be optional for businesses and will be backed by suitable legal and policy structures.
Although the policy has not yet been enacted, President Mahama has appointed Augustus “Goosie” Tanoh as the Presidential Advisor on the 24-Hour Economy and Accelerated Export Development, assigning him the responsibility of spearheading the implementation of this flagship initiative.
