President Mahama assents to 24-Hour Economy Authority Bill
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.
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