GH¢110m earmarked for 24-hour economy authority — Mahama

President John Dramani Mahama has announced the allocation of GH¢110 million in the 2026 Budget to operationalise the newly established 24-Hour Economy Authority, describing the initiative as a cornerstone of Ghana’s economic transformation agenda.

Delivering his State of the Nation Address (SONA) in Parliament, President Mahama declared that the legal framework for the 24-Hour Economy is now firmly in place following the passage of the 24-Hour Economy Authority Bill on February 6, 2026, and his subsequent assent to it.

“On 6th February 2026, this House passed the 24-Hour Economy Authority Bill, establishing the regulatory framework and legal mandate necessary for full implementation. I subsequently had the honour of signing this historic legislation into law,” he stated.

He announced that government has committed substantial seed funding to ensure the Authority begins work immediately.

“In this year’s budget, GH¢110 million has been allocated to begin the setting up and implementation of the 24-Hour Economy Authority. All is now set for take-off,” President Mahama declared.

The President described the programme as the most ambitious economic reform in recent years, aimed at unlocking round-the-clock productivity and expanding Ghana’s industrial base.

“This is the boldest economic transformation initiative in Ghana’s recent history,” he said.

“This transformative initiative is designed to unlock round-the-clock economic activity, deepen our value chains, boost productivity and support export growth.”

According to him, the 24-Hour Economy will prioritise key sectors including agriculture, agro-processing, manufacturing, logistics and services, with a strong focus on job creation, particularly for young people.

“These resources will enable businesses to operate beyond traditional business hours, attract investment through strategic partnerships with the Development Bank Ghana and the Ghana Infrastructure Investment Fund, and strengthen the foundations for sustained growth and job creation, especially for our young people,” he noted.

President Mahama said the initiative forms part of broader efforts to stabilise the macroeconomy, build resilience against external shocks and move the country beyond cyclical economic downturns.

“As global uncertainty grows, it is necessary for us to reduce our country’s exposure to external shocks, break the cycle of economic downturns and safeguard our macroeconomic stability,” he stressed.

He emphasised that the 24-Hour Economy represents a decisive shift from policy formulation to implementation.

“We have moved decisively from planning to action,” the President said. “This is about building prosperity and restoring our people’s hope through concrete action.”

With funding secured and the Authority legally established, government says implementation of the 24-Hour Economy programme will commence in earnest this year as part of efforts to drive inclusive growth and large-scale employment.