The Industrial and Commercial Workers Union (ICU) has criticised the government’s $4 billion allocation for its ambitious 24-hour economy initiative, describing it as “woefully inadequate” to address the country’s entrenched unemployment crisis.
Speaking at a Professional and Managerial Staff Union event in Accra, ICU General Secretary Morgan Ayawine stressed the urgent need for greater investment to make the policy competitive and capable of creating sufficient jobs.
“The $4 billion is not enough for the 24-hour economy policy because the problems have accumulated. We will need more than that to help create adequate jobs,” he said.
24-Hour Economy: A Policy with Promise but Insufficient Backing
While endorsing the policy’s objectives, Ayawine warned that inadequate funding risks derailing its implementation.
“We are ready to join the 24-hour economy for job creation. Look what is happening in our country is not a good commentary. You have parents who toiled, looked for money and resources to educate their children, but when they come out of schools, they join the unemployed graduates,” he lamented.
He called for unity among stakeholders to ensure the policy delivers its promised impact.
“This is the time for all of us to come together as Ghanaians and deal with this canker,” he urged.
Commenting on the government’s recent decision to discontinue the One District One Factory (1D1F) policy, Ayawine said ICU plans to seek clarity from policymakers.
With unemployment remaining a critical national concern, ICU insists that the success of the 24-hour economy will depend on substantial funding, inclusive stakeholder collaboration, and sustained policy focus.
“For the first time, several policies that were designed to deal with unemployment failed. This time, we dare not fail,” Ayawine concluded.
