Independent presidential hopeful, Kofi Koranteng has contested the perspectives of John Dramani Mahama and Dr. Mahamudu Bawumia regarding the feasibility of the proposed 24-hour economy by the NDC flagbearer.
According to Mr Koranteng, both Mahama and Bawumia lack a proper understanding of the proposed policy.
During an interview with Vim Lady on Okay FM, Koranteng expressed skepticism about the practicability of a 24-hour economy in the current Ghanaian context.
He emphasized the need for connectivity, complexity, and competencies as prerequisites for a successful 24-hour economy, elements he believes Ghana currently lacks.
“The advanced economy being referenced is not 24 hours. I have been to Dubai in the UAE, Germany, Japan, Singapore – all these countries have incredible economies but they don’t run 24 hours,” he stated.
Mr Koranteng also criticized the absence of a comprehensive transportation system and proper network connectivity.
He argued against the government legislating a 24-hour economy, emphasizing the role of the government in providing infrastructure for the private sector to thrive.
“First, to even think about the 24-hour economy, as proposed by John Mahama, the three things you need to have available are not there. These three things are connectivity, complexity and competencies.
“If you don’t have these three things, you cannot possibly even think of a 24-hour economy. All this tells me is that Mahama doesn’t know what he is talking about. He was coached into saying it and he has also come out to say it,” he said.
In response to Bawumia’s criticism of the policy, Mr Koranteng argued that certain essential services, such as hospitals, police, and fire services, are critical components of any thriving economy and do not fall under the private sector.
“We don’t have a transportation system, there is no mass transportation system, yet we want to implement a 24-hour economy.
“Let me make this scenario, a commercial bus driver, popularly known as ‘trotro’, starts work in the morning and closes at 8pm, who is expected to take over his shift. If there is no mass transit system, then this is what the Chinese established before anything else.
He asserted that merely having these services operate 24 hours does not constitute a 24-hour economy.
“What Bawumia also said about the policy shows he also doesn’t understand it. Utilities don’t fall under the private sector. For an economy to survive to crawl, there are some agencies of government you have to establish. So, mentioning the hospital, police, fire service and others, they form the base for any economy… So, you cannot say that because they run 24-hours means you have a 24 hour economy, that is not what the concept means,” he added.