NDC’s Policies are to Boost Economic Growth and Create Jobs for Ghana
The Ashanti Regional Communications Member for the National Democratic Congress (NDC), Dennis has shared insights into the party’s economic agenda, emphasizing the potential impact of their proposed policies on Ghana’s economy. He highlighted that if Ghanaians grant the NDC the mandate, the party’s policies would create substantial opportunities for economic growth and job creation.
Dennis stressed the importance of a strong economy as the backbone of the nation, noting that a robust economy would provide employment opportunities for Ghana’s youth. Using the United States as an example, he pointed out that economic concerns are often central to political campaigns, with candidates frequently focusing on economic issues that directly impact citizens’ lives.
In discussing Ghana’s current economic state on the maakye show with Kwabena Owusu Dankwa he quoted Dr Mahamudu Bawumia, who famously stated, “At the end of the day, the economy is your pocket, and no amount of economic gymnastics can change that.”
He introduced the National Women’s Development Program, a policy envisioned by the NDC under former President John Mahama. Recognizing that many women in Ghana, particularly in Kumasi, are involved in small-scale trading, the program seeks financial support for women entrepreneurs. By reducing the high interest rates that deter many women from accessing loans, the NDC aims to empower women and foster economic independence.
He added that microfinance banks traditionally supporting these women have struggled due to recent reforms in the banking sector. As a result, women now face higher interest rates from larger banks, which limits their ability to secure funding.
He explained that supporting these women could also have a ripple effect on employment, as banks that benefit from this policy could eventually hire the children of these women upon their graduation, thereby reducing youth unemployment.
Another initiative, the National Apprenticeship Program, is designed to help young Ghanaians gain practical skills. Under this program, the government would support youths interested in skill-based training but lack the financial resources. The program would cover the cost of training by providing compensation to trainers and allowances for the youth to cover food and transportation.
Upon completing the apprenticeship, participants would receive a certification, enabling them to seek employment in both the public and private sectors, including institutions like the police service.
Finally, Dennis discussed the 24-Hour Economy Initiative, a policy that he believes could be a game changer for Ghana’s economy. He explained that currently when Ghanaian businesses import goods, they must convert Ghanaian cedis to U.S. dollars, which weakens the local currency. Under this policy, companies with the capacity to operate 24 hours would receive government support, including security protection, enabling them to expand production and contribute to economic growth.
According to him, one security expert, estimated that this policy could create jobs for 25,000 young Ghanaians in the security sector alone.
He also used palm oil as an example of a product that could benefit from this initiative. Ghana imports 200,000 metric tonnes of palm oil annually, despite producing only 50,000 tonnes locally.
By expanding local production, the NDC intends to reduce the need for imports, potentially even positioning Ghana as an exporter. To support these local producers, Mahama has pledged to reduce electricity taxes, allowing businesses to produce at a lower cost and meet domestic demand.
Through these initiatives, he explained, the NDC aims to create a sustainable and resilient economy that provides ample opportunities for all Ghanaians.
Story by: Joyce Owusu Dankwah
