President John Mahama, on Thursday, assented to the 24-Hour Economy Authority Bill, 2025, in a brief ceremony before the 13th cabinet meeting.

In his remarks after the signing, the president said, "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.”

He explained that the process took a while because the government had to ensure due diligence to give legal effect to the policy initiative.

“Now we must move from strategy to implementation. The business sector is waiting, Ghanaian investors are waiting, foreign investors are waiting”, President Mahama 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."

The bill establishes a 24-Hour Economy Authority to serve as the central coordinating body to implement the policy, aligning public and private sector efforts, and addressing infrastructure and regulatory needs.

Parliament officially passed the 24-Hour Economy Authority Bill, 2025, a flagship policy of the John Mahama administration.

The Bill was approved on Friday, February 6, after extensive debate between the Majority and Minority caucuses on the floor of the House.

The legislation establishes the 24-Hour Economy Authority to implement the government’s 24-Hour Economy and Accelerated Export Development Programme.

According to the government, the programme is aimed at addressing longstanding structural challenges within Ghana’s productive sector.

It also seeks to reduce the country’s dependence on exporting low-value raw materials and cut reliance on costly imported finished and intermediate goods.

The Authority is expected to drive the integrated and sustainable transformation of national systems for economic production, supply chains, marketing and workforce development.

The Bill, which was laid before Parliament in late 2025, is designed to transition Ghana into a fully operational 24-hour economy. It provides for the creation of a central coordinating body responsible for overseeing and implementing the policy nationwide.

Under the law, the Authority will mobilise investment, coordinate activities between the public and private sectors, and ensure that the necessary infrastructure and regulatory frameworks are in place to support round-the-clock economic activity.

The 24-hour economy policy was one of the National Democratic Congress’ key campaign promises during the 2024 general elections.