24-hour economy is a ‘scam’, Ibrahim Adjei says power cuts have already killed the dream before it starts.
Ibrahim Adjei, resident country director of International Investment LLC, has described the government’s 24-hour economy policy as a “scam”. According to him, the frequent power outages are making the policy unworkable and are already having a toll on businesses, reducing productivity and eroding investor confidence. He expressed concern about the viability of the policy’s “1-3-3” model of one job, three shifts and round-the-clock operation during an appearance on Channel One TV’s Breakfast Daily on April 27, saying it cannot be done with the current electricity supply constraints. He also noted that the persistent energy challenges coupled with other challenges such as illegal mining (galamsey) are eroding economic stability. He called on the public to critically scrutinise the policy and dismissed it as misleading and unlikely to be successful. Meanwhile, President John Dramani Mahama has assented to the 24-Hour Economy Authority Bill to establish an authority that will oversee the implementation of the 24-Hour Economy across the country, though many doubt whether it is possible to do so.
