The presidential candidate for the Alliance for Revolutionary Change, Alan Kyerematen, has highlighted the value of a "Enterprise Economy" as a long-term fix for Ghana's financial problems.

Speaking on October 1, 2024 in Accra at the IEA Evening Encounters, Mr. Kyerematen emphasized that building an economy based on entrepreneurship, private enterprise, and ongoing innovation is essential to generating jobs and promoting innovation.

Instead of depending on flimsy, transient fixes like the 24-hour economy, he claims that an enterprise economy will not only turn Ghana's economic fortunes but also lay the groundwork for sustained prosperity.

When asked if, should he become president, he will carry out Mr. John Mahama's 24-hour economy, Mr. Kyerematen said, “Unfortunately, I can’t explain the 24-Hour Economy for my friend and brother John Mahama, but what I can tell you is that I have a better one – an Enterprise Economy.”

The success of a 24-hour economy, he continued, is determined by the underlying economic structure, even though its emphasis is on making the best use of time and resources.

“If there are no enterprises, no entrepreneurs, and no innovation, what will the 24-hour economy be built on? It will just be a fleeting moment of productivity with no lasting impact,” he added.

According to Mr. Kyerematen, the enterprise economy will build a vibrant ecosystem where companies may prosper, develop, and grow—creating long-term jobs and promoting economic growth.

He thinks that this is the best course of action for putting Ghana's youth out of poverty and moving the country toward prosperity.

KA

Watch the latest episode of Everyday People on GhanaWeb TV below: