Mahama assents to 24-hour economy bill, shifts focus to implementation

President John Dramani Mahama has officially assented to the 24-Hour Economy Bill, describing it as a major milestone in Ghana’s quest for economic transformation and job creation.

Speaking at the signing ceremony, President Mahama said the legislation fulfils a key promise and lays the legal foundation for one of his administration’s flagship policies.

“I have appended my signature to give assent to the 24-Hour Economy Bill Ghanaians have been waiting for. It was one of our flagship strategies for economic transformation,” he stated.

The President acknowledged that the process took time but explained that due diligence was necessary to ensure the policy was firmly grounded in law.

“It’s taken a while, but we needed to go patiently through the process to give legal effect to it. And so from now, we must move from strategy to implementation,” he said.

President Mahama noted that both local and foreign investors are eager to take advantage of the new framework and the incentives that will accompany it.

“The business sector is waiting. Ghanaian investors are waiting. Foreign investors are waiting. They want to see the package of incentives that we will afford them so that they can invest more, expand productivity, and create more employment for our young people,” he emphasized.

The 24-Hour Economy policy is expected to stimulate continuous productivity across key sectors, boost industrial output, and generate sustainable jobs, particularly for the youth.

Concluding his remarks, President Mahama expressed satisfaction with the passage of the Bill and commended those who worked behind the scenes to make it a reality.

“It is my pleasure to assent to this Bill today. Let me congratulate the team that has been working on it and all stakeholders who contributed to this important national effort,” he said.