April 24, 2024

Former Member of the New Patriotic Party, Yaw Buaben Asamoa, has criticised the National Democratic Congress’s (NDC) 24-hour economy proposal.

According to him, mere slogans won’t necessarily translate into feasible policies.

This comes after John Mahama announced that the NDC administration will put in measures to ensure a 24-hour economy.

Despite agreeing with the concept presented by NDC’s flagbearer, Buaben Asamoa emphasised the need for the party to provide a detailed policy document for thorough scrutiny.

In an interview on TV3, Buaben Asamoa expressed the importance of moving beyond catchy slogans and focusing on concrete policies to drive economic growth.

“You can sloganise to get into power, but the people will realise it is not feasible,” he said.

Highlighting the key factor for Ghana’s economic development, Buaben Asamoa identified the crucial need for capital and access to it. He urged the NDC to articulate a carefully drafted policy that outlines the transition of capital to areas that can spur growth.

In contrast, he pointed out that the independent presidential candidate, Alan Kyerematen, has been prioritising this approach in his focus on economic development.

“The biggest driver Ghana’s economy needs is capital and access to capital and a carefully drafted policy to transition the capital to the areas to provide growth, this has been the focus of the independent presidential candidate Alan Kyerematen,” he said.

Buaben Asamoa, Hopeson Adorye, Nana Ohene Ntow and Boniface Abubakar Saddique were recently sacked from the NPP for openly declaring their support for Alan Kyerematen who is the leader for the Movement for Change group.

Before Alan broke away from the NPP, Buaben Asamoa was his campaign manager when he was contesting to become the flagbearer of the party.

What the 24-hour economy is about:

The 24-hour economy is simply an economic strategy that involves putting measures in place to ensure that businesses across various sectors in an economy operate both at night and in the day. In order words, there would be a night economy and a day economy.

The strategy is aimed at ensuring that the economy is as vibrant in the day as well as in the night so as to create more employment opportunities.

So essentially, businesses are to put measures in place to ensure that they are in operation every hour of the day. These measures include employing more staff and running a shift system.

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