Accra: President John Dramani Mahama has announced that the Government is set to implement its 24-hour economy initiative following the passage of the 24-Hour Economy Authority Bill, 2025, into law. "Last week at the Cabinet meeting held, I had the honour of signing this historic legislation into law. All is now set for take-off," he stated during his Message on the State of the Nation to Parliament.
According to Ghana News Agency, President Mahama revealed that GHS110 million has been allocated in the 2026 Budget for the implementation of this initiative, which he described as the most ambitious economic transformation programme in Ghana's recent history. Launched in July 2025, the initiative aims to transform Ghana into a self-sufficient, export-led economy by encouraging continuous productivity and job creation in key sectors.
President Mahama emphasized the shift from planning to action on the flagship 24-hour economy and accelerated export development programme. Resources have been allocated to enable businesses to operate beyond traditional hours and attract investment through strategic partnerships with the Development Bank Ghana and the Ghana Investment Infrastructure Fund.
The President highlighted that these partnerships would strengthen the foundation for sustained growth and job creation, particularly for the youth. He stressed the initiative's focus on building prosperity and restoring hope through concrete action. The programme is set to unlock round-the-clock economic activities, enhance value chains, boost productivity and exports, and create quality jobs in agriculture, manufacturing, logistics, and services.
Government plans include duty- and tax-free importation of equipment for factory expansion or retooling. "The incentives are coming. Your belief in Ghana will be rewarded with policies that encourage even greater investment," President Mahama stated at a sod-cutting ceremony for a new float glass manufacturing facility at Shama in the Western Region.
Additional incentives involve tax rebates on electricity consumed during off-peak hours, improved security for night-shift workers, and measures to reduce the cost of doing business. The initiative is projected to generate approximately 1.7 million jobs and lessen dependence on imports.
President Mahama called for private sector collaboration and urged both Ghanaian and international investors to seize the opportunities presented by the programme.