Former Executive Vice President of Unilever, Yaw Nsarkoh, has expressed skepticism regarding the feasibility of the 24-hour economy initiative proposed by former President John Dramani Mahama.

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Mr Nsarkoh contends that the initiative lacks crucial details outlining how Ghana's productive forces will be developed to support and transform the country within such a system.

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In emphasizing his reservations, Mr Nsarkoh drew on his past experience working within a 24-hour ecosystem, asserting that establishing such an economy is a formidable challenge. He cautioned against viewing the initiative as a simple task, stating, "It is not a walk in the park to construct one." While he does not dispute the ambition of a 24-hour economy, Mr Nsarkoh stressed the necessity for creativity and substantial effort to turn the vision into a reality, cautioning against political promises that lead nowhere.“It is not a walk in the park to construct one. I do not quarrel with the ambition of a 24-hour economy, but it requires creativity and very hard work to get done, or else this two becomes another promise of a miracle that leads nowhere from Ghanaian politicians,” the former Unilever Executive Vice President said.

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Mr Nsarkoh underscored the need for a radical transformation of Ghana's economy to accommodate a 24-hour system, emphasizing that it requires a comprehensive labor force. He insisted that the commitment should extend beyond mere promises and be backed by tangible actions.

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Addressing the lack of detail in the initiative, Nsarkoh expressed uncertainty about how the proposed 24-hour economy would be funded, raising questions about the required capital injection.

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He pointed out the challenge of integrating the prescriptions and projections into an econometric model due to the absence of essential details.

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These comments by Mr Nsarkoh come in response to former President John Mahama's announcement that the next NDC government, if elected in the 2024 general elections, would strive to create a 24-hour economy, offering incentives and tax breaks. Mahama outlined his commitment to alleviating the tax burden on Ghanaian businesses imposed by the current government, with the aim of restoring the country's status as a leading destination for investment in Africa.

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