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Title: “24hour Economy: Mahama has just “copied” one of the byproducts of Dr. Bawumia’s Digital Transformation agenda”
Upon reflection on the concept of the 24-hour economy, I find myself questioning the NDC’s touted policy, wondering if it truly brings something groundbreaking to the table. In my observation, the digital transformation currently underway in Ghana plays a pivotal role in propelling us towards a round-the-clock economic model.
Take, for instance, the Ghana Revenue Authority’s move towards online tax filing. This initiative not only enhances efficiency but ensures that our nation continues to generate revenue even after the traditional working hours have concluded. It’s a testament to our ability to adapt and thrive in the digital age.
The ECG PowerApp is another fascinating example. It enables the Electricity Company of Ghana to sell electricity beyond 5 pm, with essential services such as customer care and engineering support working tirelessly into the night to address client challenges promptly. I’ve personally utilized these services during the late hours, experiencing firsthand the efficiency brought about by digitalization.
The Ghana Water App is yet another testament to the power of technology in driving a 24-hour economy. It consistently generates revenue for the Ghana Water Company, showcasing the potential for essential services to operate seamlessly around the clock.
Essential service staff, including the Ghana Police Service, Ghana Fire Service, and Prisons, health services, etc, have long embraced 24-hour job shifts, ensuring the continuous provision of critical services to the public.
Our industrial sector is thriving with many factories operating day and night shifts, contributing significantly to the 24-hour model. Likewise, certain fueling stations, exemplified by Star Oil, have adopted 24-hour shifts, depending on the safety of their surroundings.
Banks, too, have embraced the digital age. Dr. Mahamudu Bawumia’s leadership in spearheading mobile money interoperability has enabled 24/7 deposits and withdrawals, revolutionizing the accessibility of banking services beyond traditional hours.
So, as I ponder these advancements, a critical questions arises:
“What does the NDC, under the leadership of Mahama, plan to do differently than what is already in motion, in order to increase the number of industries that are running 24 hour operations? “
The NDC and Ex President John Mahama’s challenge always lies with formulating a succinctly thought through policy to drive this nation Ghana into our desired future.
In conclusion, 24 hour economy is one of the benefits of Dr. Bawumia’s digital transformation agenda. It does not come about by reducing electricity tariffs for factories or government giving them tax incentives to factories that work in the night. Factories will increase their production operations automatically to include the nights when their sales or demand increases.
Stephen Forson
(Dep. Director of IT, NPP HQ)
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GEXIM deepens relations with US EXIM Bank
A management team of the Ghana Export – Import Bank (GEXIM) led by the Acting Chief Executive, Sylvester Mensah met with the leadership of the Export–Import Bank of the United States (US EXIM) on Wednesday April 23, 2025 in Washington DC, United States of America.
The Acting President and Chairman of US EXIM, Mr. James C. Cruse and Vice President, International Relations, Ms. Isabel Galdiz received the GEXIM delegation, which included Deputy CEO for Banking, Mr. Moses Klu Mensah and Head of International Cooperation, Mr. Jonathan Christopher Koney at the headquarters of US EXIM.
The meeting offered the GEXIM team the opportunity to share the strategic direction of the Bank in line with the resetting agenda of the President of the Republic, His Excellency John Dramani Mahama for the repositioning of the Ghanaian economy into an export-led one by providing the requisite investment to Ghanaian businesses.
Mr. James C. Cruse expressed US EXIM’s eagerness to deepen its existing relations with GEXIM and proposed the signing of a new Cooperative Framework Agreement following the expiration of a Memorandum of Understanding signed in 2019 to utilize US EXIM’s medium term loan guarantees to procure machinery by GEXIM for qualified Ghanaian Small and Medium-sized Enterprises (SMEs).
Mr.Sylvester Mensah thanked the Acting President and Chairman of US EXIM for hosting the GEXIM delegation and reaffirmed the Ghanaian government’s commitment to strengthening trade and investment between Ghana and its global partners for economic transformation of Ghana with GEXIM playing a pivotal role.
The two teams will be meeting on the sidelines of the 2025 US EXIM Annual Conference on 29th and April 30, 2025 to explore possible areas of collaboration and matching Ghanaian businesses to American companies. The meeting ended with an exchange of gifts.
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
