The 24-Hour Economy policy has officially moved from proposal to implementation, following President John Dramani Mahama’s signing of the 24-Hour Economy Authority Bill into law.
Speaking during the State of the Nation Address before Parliament, President Mahama announced that Ghana’s economy is regaining strength and resilience on the global stage, with the 24-hour economy and accelerated export development program positioned as the boldest economic transformation initiative in recent history.
The legislation, passed by Parliament on 6 February 2026, establishes the regulatory framework and legal mandate required for full implementation of the policy. The president confirmed that he signed the bill into law after Cabinet approval, clearing the way for operational rollout.
The 24-Hour Economy Ghana initiative is designed to unlock round-the-clock economic activity, deepen value chains across key sectors, boost productivity, and support export growth. It is also expected to create quality jobs in agriculture, manufacturing, logistics, and services.
In the 2026 budget, the government has allocated 110 million Ghana cedis to begin the setup and implementation of the 24-Hour Economy Authority. The funds will support businesses to operate beyond traditional working hours and attract investment through partnerships with institutions such as the Development Bank of Ghana and the Ghana Infrastructure Investment Fund.
President Mahama said the initiative is aimed at building prosperity and restoring hope, particularly for young people seeking employment opportunities.
He revealed that the government recently took what he described as a painful but necessary decision to revise the cocoa producer price to ensure competitive pricing and address liquidity challenges in the sector. According to him, failure to act would have forced the government to borrow billions, potentially dragging the country back into economic instability.
President Mahama noted that previous decisions had left behind a 32-billion-cedi debt burden in the cocoa sector. While acknowledging concerns and protests from farmers, he assured them that ongoing reforms would transform the sector and guarantee fair and transparent pricing that reflects production costs and provides decent margins.
Beyond the 24-hour economy policy, the president announced plans to introduce new legislation to tighten procurement processes. This will include banning sole-source contracts except under exceptional circumstances.
With the legal framework now in place, implementation of the 24-Hour Economy Ghana program is expected to begin in earnest, marking what the government describes as a major shift in the country’s economic direction.
