The 24-hour economy policy is expected to create at least 1.7million jobs as well as ensure sustainable employment for the youth upon a full rollout, the Presidential Advisor on the policy, Mr Goozie Tanoh, has said.
The policy according to him was carefully designed to shift the country’s economy into a high productive one and serve as a catalyst for employment.
Mr Tanoh made these remarks in a speech read on his behalf by the head of Innovative Finance, Partnership and Marketing at the 24-hour Economy and Accelerated Export Development Secretariat, Dr Ishmael Dodoo, at the Energy News Africa Limited’s 5th Anniversary Lecture and Panel discussion on the impact of government’s 24- Hour Economy on the power and petroleum sectors yesterday in Accra.
The policy, he explained, was the most ambitious economic restructuring plan since independence is a vision beyond the clock of industrial shifts in production and the night economy that would elevate the country’s Gross Domestic Product by 31.7 per cent over 10 years above the business as usual scenario.
The Presidential Advisor further indicated that the strategic policy has the overwhelming potential to shift Ghana from an import-heavy led economic model to a manufacturing and export led economy, paving way for total economic independence.
“It will create decent and sustainable living wage jobs, especially for the youth, expand capacity utilisation at the farm and enterprise level, boost, and lower energy costs,” he added.
The 24-Hour strategy, he explains further, will target high impart sectors including agro- processing, textiles and garments, pharmaceutical, health care hospitality, digital services, pharma, transport and logistics.
Moreover, Mr Tanoh noted that a critical ingredients in achieving all these is a reliable and affordable energy supply to support the growth and sustenance of the policy.
He suggested that industries operating 24-hours can shift to renewable microgrids, and gas to power hubs, use of mix thermals, solar Photovoltaic systems with batteries, solar powered generators, solar powered generators for agriculture irrigation and smart grid technologies to feed domestic strategic value chain.
He then urged the Ministry of Energy to partner prisecinvestors, local government authorities, Banks, International development partners, the academia and entrepreneurs to totally transform the country’s energy sector.
A Sustainable and Energy Expert, Wisdom Ahiataku-Togobo, also urged for more support for the country’s nuclear programme which he stated hold the key to the countries industrial success.
