Ghana’s 24-hour economy agenda has now crossed a decisive threshold.
On February 19, 2026, President John Dramani Mahama assented to the 24-Hour Economy Authority Bill, 2025, formally transforming a flagship economic policy into binding law. The signing took place ahead of the 13th Cabinet meeting and was presented by the Presidency as a key step in the country’s broader economic transformation strategy.
With the President’s signature, the 24-Hour Economy Authority is now legally established as the central coordinating body to drive the 24-Hour Economy and Accelerated Export Development Programme. As the President put it, the country must now move from strategy to implementation. The business community, local investors and foreign partners alike are expecting clarity and action.
From Campaign Promise to Statutory Framework
The 24-hour economy initiative has long been one of the administration’s headline economic proposals. What has now changed is its legal status.
The President indicated that the assent followed careful due diligence to ensure that the policy was firmly grounded in law. That legal foundation now exists.
The Act establishes the Authority as a body corporate with the capacity to acquire property, enter into contracts and undertake related transactions. More importantly, it gives the Programme institutional permanence and clearly defined lines of accountability.
This is no longer a policy unit operating within the Office of the President. It is a statutory authority created by Parliament, with powers, duties and responsibilities set out in legislation.
What the Law Is Designed to Achieve
At its core, the Act seeks to confront long-standing structural weaknesses in Ghana’s productive economy.
For decades, Ghana has exported largely raw materials while importing higher-value finished goods. The new legal framework aims to shift that pattern by promoting:
- Greater domestic production and value addition
- Stronger linkages across supply chains
- Reduced reliance on imports
- Increased exports, particularly within West Africa
- Expanded and more meaningful employment opportunities
The Programme rests on three main pillars: transformation of production systems, development of supply chain and market systems, and labour development, including digital skills and work culture reform.
In other words, this is not merely about extending business hours. It is about reorganising how Ghana produces, transports, finances, markets and works.
The Authority’s Core Functions
Under section 3 of the Act, the Authority is mandated to:
- Promote optimisation in the volume, variety and quality of goods produced locally
- Support the growth of micro, small and medium-scale enterprises
- Strengthen collaboration between producers and providers of finance, technology and management services
- Facilitate job creation and decent work
- Promote a productive and safe night-time economy
- Propose fiscal and monetary incentives for enterprises operating within 24-hour value chains
- Administer grant schemes for capacity building and social interventions
- Establish or incorporate entities necessary to achieve its objectives
The Presidency has noted that investors are seeking clarity on the incentive package Ghana can realistically sustain. The Act provides the framework within which those incentives may be designed, subject to constitutional and parliamentary safeguards.
Governance and Accountability
The Authority is governed by a seven-member Board appointed by the President in accordance with article 70 of the 1992 Constitution. The Board comprises a Chairperson, a Chief Executive Officer and five other members with relevant expertise, at least two of whom must be women.
Board members owe fiduciary duties equivalent to those imposed on directors under the Companies Act, 2019. They are required to act honestly, in good faith and in the best interest of the Authority. Breach of these duties may attract criminal sanctions, including fines and potential liability to compensate for losses.
Financial oversight is reinforced through the Public Financial Management Act, 2016. The Authority must maintain proper accounts, submit to audit by the Auditor-General and present annual reports through the Minister responsible for Finance to Parliament.
The structure therefore combines broad economic ambition with formal governance controls and accountability mechanisms.
Financial Powers and Incentives
The Authority’s funding sources include parliamentary allocations, loans, internally generated funds, investment returns and grants.
It may borrow with the written consent of the Minister responsible for Finance, subject to article 181 of the Constitution. It may also benefit from tax exemptions under the Exemptions Act, 2022, provided prior parliamentary approval is obtained.
In addition, the Act empowers the designated Minister to make Regulations by legislative instrument. These Regulations are expected to define the structure of incentives, the conditions for disbursement of funds to enterprises and administrative penalties for non-compliance.
For businesses, these subsidiary instruments will determine how the policy translates into day-to-day operational reality.
A Coordinating Hub for Public and Private Action
The Presidency has described the Authority as a central coordinating hub intended to align public and private sector efforts while addressing infrastructure and regulatory bottlenecks.
That alignment is critical. Ghana’s economic constraints often cut across multiple sectors. Energy, finance, transport, technology and labour policy tend to operate in parallel rather than in a unified manner.
The Authority is designed to bridge those divides and provide a single institutional platform for coordination.
What Comes Next
With assent secured, attention shifts to implementation. Investors and industry players will be watching for: the detailed incentive framework, timely regulatory clarity, the operational capacity of the Authority, evidence of genuine inter-ministerial coordination, etc.
The Act now provides the legal backbone for the 24-hour economy agenda. Whether it achieves the promised transformation will depend not only on the law, but on disciplined execution, transparency and measurable results.
