By Issah Olegor
President John Dramani Mahama on Thursday officially assented to the 24-Hour Economy Authority Bill, 2025, in a brief ceremony held before the 13th Cabinet meeting of his administration.
The signing marks a significant step toward operationalizing one of the government’s flagship economic transformation strategies, which has been at the center of national debate for months.
In his remarks following the signing, President Mahama emphasized that the approval of the Bill signals a shift from policy planning to practical implementation.
“Cabinet colleagues, I just appended my signature to give assent to the 24-hour Authority Bill. This Bill, which Ghanaians have been waiting for, was one of our flagship strategies for economic transformation,” he said, highlighting that the process had required careful scrutiny and legal due diligence to ensure the policy’s proper institutional foundation.
The President further noted that both local and foreign investors are awaiting clarity on the incentives and frameworks that will accompany the 24-hour economy.
“The business sector is waiting, Ghanaian investors are waiting, foreign investors are waiting. They want to see the package of incentives that we can afford, so that they can invest more, expand productivity, and create more employment for our young people,” he stated.
The legislation formally establishes a 24-Hour Economy Authority, tasked with coordinating all public and private sector efforts to implement the round-the-clock economy initiative.
The Authority will oversee regulatory compliance, infrastructure planning, and investment facilitation to ensure that the policy achieves its core objectives of industrial growth, continuous production cycles, and increased job creation.
Background And Controversy
The 24-hour economy concept was first proposed by the NDC in its 2024 campaign, pitched as a transformative approach to boost employment and productivity through a three-shift operational system in selected sectors.
However, the policy has faced criticism from opposition parties, civil society, and business groups, who have argued that the initiative remains largely theoretical and lacks immediate, tangible benefits for young people and private investors.
Previous debates in Parliament centered on concerns about potential overlap with existing institutions such as the Ghana Export Promotion Authority (GEPA) and the Ghana Enterprises Agency (GEA), with critics questioning whether the new Authority duplicates existing mandates.
There were also discussions over fiscal incentives, tax exemptions, and the feasibility of sustaining a 24-hour operational model in cities where consumer demand and infrastructure may be insufficient to support continuous economic activity.
Despite these concerns, proponents argue that the Authority will serve as a central coordinating body capable of addressing these challenges, providing both strategic oversight and operational support to ensure that the policy meets its intended economic objectives.
Next Steps
With the Bill now assented to, the government plans to move rapidly toward implementation. Key steps include establishing district-level task forces, finalizing investment and tax incentive packages, and engaging private sector actors to operationalize 24-hour production and service delivery.
