President John Mahama has signed the 24-Hour Economy Authority Bill, 2025, taking an important step toward transitioning Ghana into a fully operational 24-hour economy.
The signing occurred on Thursday, ahead of the 13th Cabinet meeting.
“This Bill, which Ghanaians have been waiting for, was one of our flagship strategies for economic transformation,” President Mahama said.
“Now we must move from strategy to implementation. The business sector is waiting, Ghanaian investors are waiting, foreign investors are waiting.”
After much legislative discussion, the bill was enacted on February 6 and creates the 24-Hour Economy Authority to carry out the government’s Accelerated Export Development and 24-Hour Economy Program.
In order to promote 24-hour economic activity, the Authority will mobilize investment, coordinate public-private sector efforts, and make sure infrastructural and regulatory frameworks are in place.
It is anticipated to alleviate structural issues in Ghana’s manufacturing industry, lessen dependency on expensive imports, and lessen reliance on exporting low-value raw materials.
Source: Mybrytfmonline.com/Joseph Asare
