President John Dramani Mahama has officially signed the 24-Hour Economy Authority Bill into law.
The signing paves the way for the full implementation of the Mahama government’s flagship economic policy.
According to John Mahama, 24-hour economy authority will now have to move from strategy to implementation following his signing of the bill into law.
Speaking after he signed the bill into law, President Mahama stated, “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.”
“Now we must move from strategy to implementation. The business sector is waiting, Ghanaian investors are waiting, foreign investors are waiting”, President Mahama added.
He added, “They want to see the package of incentives that we can afford, so that they can invest more and expand productivity and also create more employment for our young people, and so it’s my pleasure to assent to this Bill today.”
It will be recalled that Parliament officially passed the 24-Hour Economy Authority Bill, 2025, on Friday, February 6, after extensive debate between the Majority and Minority caucuses.
The newly enacted law establishes a 24-Hour Economy Authority to implement the government’s 24-Hour Economy and to serve as the central coordinating body for the nationwide rollout of the policy.
In related news, Fifi Fiavi Kwetey, the General Secretary of the National Democratic Congress (NDC), has told critics that the government’s flagship 24-Hour Economy promise cannot happen overnight.
The NDC General Secretary detailed that the 24-Hour Economy initiative is a long-term structural programme.
According to Fifi Kwetey, the 24-Hour Economy initiative was a key campaign promise for the NDC, and steps are being taken for its implementation.
He revealed that Goosie Tanoh, the 24-Hour Economy secretariat, has completed important preparatory work with a proposal submitted to parliament for consideration.
Speaking in an interview on TV3, Fifi Kwetey explained, “The process has been on. Goosie Tanoh, who is in charge of that [the 24-Hour Economy Secretariat], who is a member of the cabinet, has presented what you call the step that needs to be taken.
And at the moment, as you know, the bill is in parliament. It came through the cabinet. It is now in Parliament. Parliament will look at it. Then, after that, the implementation can begin”.
He added, “Other things that need to be put in place regarding especially tax exemptions. That’s very important because all the people who need to come along need to have guarantees, especially about taxes.
“So it is not something that you can simply just do overnight. You need to make sure the foundations are in place in order to be able to bring all the people who need to come on board and do it properly.”
Fifi Kwetey further highlighted that the success of the 24-Hour Economy initiative goes beyond the legislative process before the Parliament, adding that economic incentives, particularly tax-related guarantees, are needed to encourage the private sector to get on board.
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President Mahama signs 24-hour economy authority bill into law, urges shift from strategy to implementation.#JoyNews pic.twitter.com/ZanlpGAmS0
— JoyNews (@JoyNewsOnTV) February 19, 2026