Ghana’s 24-Hour Economy will not change things overnight, says AGI president | Ghanaguardian. com
President of the Association of Ghana Industries (AGI), Seth Twum Akwaboah, says Ghana should not expect the government’s 24-Hour Economy policy to deliver an immediate transformation. Mr Twum Akwaboah said the initiative must be judged by the programmes, policies and practical interventions introduced to improve the economy, rather than by its name or slogan. Speaking
President of the Association of Ghana Industries (AGI), Seth Twum Akwaboah, says Ghana should not expect the government’s 24-Hour Economy policy to deliver an immediate transformation. Mr Twum Akwaboah said the initiative must be judged by the programmes, policies and practical interventions introduced to improve the economy, rather than by its name or slogan. Speaking on Joy News’ PM Express Business Edition on Thursday, he said the success of the policy would depend on how it had been developed, the extent of consultation with stakeholders and the measures being put in place to achieve its objectives. “For me, I don’t bother so much about the cliches you create, whether it’s 24-Hour Economy or 1D1F; that’s not really the issue for me. It is more of what you do within those policies. ”The AGI president said the effectiveness of a government policy was determined largely by the work carried out before its implementation, including the selection of activities designed to address existing economic challenges. “You can come up with any policy, but then, when you develop the policy, what has gone into the policy development? How consultative was its nature? What are the key policies or activities within the policy that you are trying to implement to change the status quo?”Policy requires a long-term approachMr Twum Akwaboah acknowledged that there had been uncertainty at the beginning over what the 24-Hour Economy policy would involve. However, he said engagement with the government had gradually provided more clarity. “I think we are making good progress because now it’s coming clearer. Government is defining. ”He urged the public to see the initiative as a long-term vision rather than a policy capable of producing instant results. “When you hear a cliche, when you hear a mention of something like that, sometimes the expectation is that overnight things will change and everything will be a 24-hour economy. It doesn’t happen like that. ”He compared the situation with the One District, One Factory (1D1F) initiative, saying the announcement of a policy did not mean its ultimate objective would be achieved immediately. “The same thing I said is that when we had the 1D1F. All of a sudden, you think that every district is going to have an industry? Government has mentioned it. It’s an intention. It’s a vision. How do we work towards it?”The 24-Hour Economy, he said, would similarly require clearly defined policies, programmes and activities capable of moving Ghana towards the proposed economic transformation over time. “The same thing applies to the 24-hour economy. So I’m not expecting that things will change overnight like that. But then we need to define the specific activities and policies and programs we are going to do to make that happen. ”Mr Twum Akwaboah said he had been encouraged by the government’s recent efforts to explain the initiative in greater detail, including the launch of a blueprint containing a number of proposed measures. “And gradually they are coming to that point where now they’ve launched a blueprint, and then in it there are a lot of interesting ideas. ”He said the eventual impact of the policy would depend on whether those proposals were implemented fully. “If we’re able to implement it to the letter, I’m sure it will help change a lot of things. ”The AGI president also confirmed that the business community continued to support the initiative and was working with the government on its implementation. “So for me, I embrace it just as we embraced the 1D1F, AGI embraces the 24-hour economy, and we are working with government. ”He added that AGI was engaging the 24-hour economy secretariat over some of the measures set out under the policy. “We are working with the 24-hour economy secretariat to implement some of the things they said they will implement. ”Mr Twum Akwaboah said successful delivery of the initiative could have a substantial effect on Ghana’s economy. “If we’re able to do it, it will be a game changer. ”