Explainer: The NPP manifesto series- Focus on economic growth and job creation
On August 18, the New Patriotic Party (NPP) launched its 2024 manifesto, aiming to secure another term under the leadership of Vice President Dr. Mahamudu Bawumia.
The manifesto, themed “Selfless Leadership, Bold Solutions for Jobs and Business,” outlines the party’s strategy to win the support of Ghanaian voters.
The NPP’s economic blueprint builds on its previous achievements while introducing new measures to sustain growth and reduce unemployment. Dr. Bawumia has pledged to drive significant economic expansion and job creation, targeting an average annual growth rate of 6%.
Key proposals include the creation of 1,000,000 new jobs, addressing concerns that have arisen from previous initiatives like NABCo, which has faced criticism.
To enhance economic growth, the NPP plans to stimulate job creation through private sector-driven construction, industrialization, and agribusiness projects. This approach complements existing programs like the ‘One District, One Factory’ initiative, which has already established over 100 factories and generated thousands of jobs.
Additionally, the manifesto proposes the establishment of an SME Bank and a Fintech Fund to support small and medium enterprises. These new institutions aim to provide essential financial support to startups and small businesses, particularly in the tech sector, which is seen as crucial for future job creation.
The NPP also promises tax reforms to alleviate financial pressures on businesses, helping them to expand and create more jobs. While the specific details of these reforms are yet to be announced, they are expected to contribute significantly to business growth and employment.
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