Economy

President John Dramani Mahama has assented to the 24-Hour Economy Authority Bill, giving legal backing to one of the government’s key economic transformation policies. The bill  which was  signed on 19th February 2025, at the seat of government  will oversee the implementation of the policy, which aims to enable businesses to operate around the clock through a system of incentives and support mechanisms. Speaking after the signing, President Mahama said the move marks a transition from planning to implementation, noting that many Ghanaians had anticipated the legislation as a cornerstone of the administration’s strategy to boost productivity and job creation. “Cabinet Colleagues, I just appended my signature to give assent to the 24-Hour Authority Bill. This Bill Ghanaians have been waiting for, it was one of our flagship strategies for economic transformation,” the President stated. According to him, although the process took time, it was necessary to ensure the  required legal procedures are followed to  ensure the initiative is firmly grounded in law. “It has taking a while but we needed to go patiently through the process to give legal effect to it and so from now we must move from strategy to implementation,” President Mahama said. The President also  indicated that both local and foreign investors have been awaiting clarity on the incentive package tied to the policy, which is expected to encourage business expansion, increase output and generate employment, particularly for the youth. President Mahama congratulated the team that worked on the bill, particularly Goosie Tanoh and his colleagues, expressing gratitude for their efforts in bringing the legislation to fruition. The 24-Hour Economy is an economic policy aimed at allowing businesses, public institutions and services to operate around the clock (day and night) instead of the traditional 8-to-5 system.

The Government of Ghana has paid GH¢10 billion in interest obligations under the Domestic Debt Exchange Programme (DDEP), signalling continued commitment to its debt restructuring process. In a statement released by the Ministry of Finance on Wednesday, 18th February 2026, the payment which was described as the sixth coupon settlement under the programme marked the second full cash payment made without any Payment-In-Kind component, an indication of improved fiscal strength and solvency. The Ministry explained that the settlement covers cedi-denominated DDEP coupon obligations in line with the restructuring memorandum and the country’s broader debt management and fiscal consolidation strategy. The Ministry also noted while that the timely payment of the debt sends a strong positive signal to investors, it is also expected to reinforce market confidence, support the country’s credit outlook, and enhance the financial sector stability, particularly among banks and pension funds. The Government also stated this move reaffirms its commitment towards meeting future DDEP obligations, citing strengthened financial buffers, improving macroeconomic fundamentals, declining inflation, lower interest rates, and a stable cedi as supporting factors.  

Ghana’s economy is still growing — but the pace is slowing. Provisional data from the Ghana Statistical Service shows that in November 2025, the country’s year-on-year growth rate hit 4.2%, down sharply from 7.1% in November 2024. On the surface, the headline number signals moderation. But the real story lies beneath the aggregate figures — in the sectors that are driving growth and those that are holding it back.   Agriculture: The Quiet Stabilizer Amid the slowdown, agriculture stands out as a resilient force. The sector grew 4.1% in November 2025, slightly higher than 3.8% in 2024, contributing 32.4% of the total 4.2% growth. This steady performance underscores the sector’s importance: • Improved resilience against economic shocks • Continued expansion despite challenges • Vital role of food production in Ghana’s stability Nearly one-third of Ghana’s economic growth in November came from farms, crops, livestock, and fisheries.   Industry: The Sharpest Slowdown Industry, historically a key engine of growth, tells a different story. Growth in November 2025 barely registered at 0.4%, down from 6.2% in 2024. The slowdown is mainly due to declines in mining and quarrying, which once fueled industrial expansion. Industry contributed only 2.5 percentage points to overall growth, signaling weak momentum in Ghana’s extractive sector. For investors and policymakers, this is a cautionary note: without a rebound in industrial activity, sustaining broader economic growth may prove difficult.   Services: Still Leading, But Losing Steam The services sector continues to drive growth, expanding 6.7%, though this is slower than the 10.2% growth recorded last year. This sector, encompassing finance, trade, ICT, transport, and professional services, remains the largest contributor, accounting for 57.7% of total growth. While services are still expanding, the slowing pace hints that Ghana’s reliance on this sector alone may not be enough to maintain strong economic momentum.   What This Means for Ghana The numbers tell a story of moderation rather than contraction, but raise important questions: • Can industrial activity rebound? • Will agriculture continue to carry more weight? • Is Ghana entering a broader slowdown, or simply transitioning to a services-led economy? The message is clear: sustaining growth will require revitalizing industry while protecting gains in agriculture and services. Ghana is growing, but the balance of growth is shifting — from the traditional strength of mining and industry to the quiet stabilizer of agriculture and the dominant, but cooling, services sector. The future of the economy depends on how these sectors adapt and support one another in the months and years ahead.