Cabinet has approved for onward submission to Parliament the 24-Hour Authority Bill, President John Mahama announced on Wednesday.

Speaking at a media encounter at the Presidency in Accra, President Mahama said already some key institutions had taken the lead in actualizing the 24-Hour Economy Vision.

He said the Ghana Publishing Company had transitioned to a full 24-Hour operation.

He said the Passport Office and Ghana’s foreign missions had also rolled out round-the-clock services to expedite passport processing and improve service delivery.

 He noted that both Tema and Takoradi ports were now operating 24-Hours to boost trade efficiency and reduce congestion.

President Mahama said to guarantee safety within the evolving ecosystem, a dedicated 24-Hour

Economy Policy Secretariat had been established in the Ministry of Interior to provide continuous security support across the country.

These bold steps, the President said signalled a clear national commitment to building a resilient, inclusive, and job-rich economy.

Touching on economic stability, the President said: “Today we are seeing a stabilization in the price of goods and services, with inflation dropping significantly from 23.8 per cent in December 2024 to 11.5 per cent in July 2025, the lowest inflation rate recorded since December 2021”.

“But this isn’t just about numbers, it’s about being felt across markets and homes. The prices of key commodities are falling, and for the first time in years, brands and businesses are actively advertising their price reductions, a sign that recovery is not only real but tangible.”

He said official trade associations had presented data to Parliament that showed that up to 4,500 different items on the market had seen varied price reductions.

“It’s about making the Ghanaian household feel the impact in their everyday lives. As the popular saying goes, the real economy is not in statistics but in the pockets of the people. And that is why I take pride not only in the clear signs of recovery and stability, but in the direct relief Ghanaians are experiencing from our economic policies,” he said.

He said the Government had stayed current with their bond repayment obligations.

He noted that in a significant endorsement of Ghana’s economic recovery efforts, global credit rating agencies, S&P Global Ratings, had upgraded Ghana’s country credit risk from junk to B- with a stable outlook, reflecting renewed investor confidence and a positive momentum in economic management.

He said to maintain the positive momentum of economic recovery, the government was increasing productivity through bold job-creating initiatives, and one of the most transformative among them is our 24-Hour Economy Initiative, a policy that was designed to boost micro and small and medium enterprise, modernize agriculture, and expand employment opportunities across key sectors.

He said this Initiative was not just about keeping the lights on longer, it was about unlocking new shifts of productivity, widening access to jobs, and building a resilient, inclusive economy that works for all.