Former Deputy Finance Minister and Obuasi West MP, Kwaku Kwarteng, has dismissed the concept of a 24-hour economy, describing it as a political slogan rather than a viable policy.
Speaking on JoyNews’ AM Show on Thursday, Kwarteng said, “I think the 24-hour economy is not a policy that we should even spend time discussing. We should abandon this 24-hour economy immediately.”
He explained that the idea gained traction during the NDC campaign and has been amplified by the media, but he doubts its feasibility.
“It got into the NDC campaign as rhetoric. The media latched on to it, politics drove it into the mainstream campaign, and now the government is pretending that it is a credible policy,” Kwarteng said.
The former minister also questioned the lack of clarity around the policy. “Nobody has been able to tell us clearly what a 24-hour economy means.
“My government says it will provide a 24-hour economy. What is it? So far, the explanations have not been satisfactory,” he added.
Kwarteng emphasised that a 24-hour economy should develop naturally if the environment for private enterprise is right.
“There is no such thing as a 24-hour economy if you create the right environment for the private sector. If there is demand for services, businesses will operate 24 hours naturally,” he said.
