News:
February 6, 2026
Ghana’s Parliament on Friday passed the 24-Hour Economy Authority Bill, 2025, a key legislative pillar of the government’s economic transformation agenda.
The bill establishes a new 24-Hour Economy Authority, tasked with implementing the administration’s 24-Hour Economy and Accelerated Export Development Programme. The initiative is structured around three core pillars:
· Production systems development and transformation
· Development of supply chain and market systems
· Labour development
Following a debate and the adoption of a parliamentary report, the bill was approved by the House.
Majority Leader Assures on Job Creation
Addressing the press after the passage, Majority Leader Mahama Ayariga framed the bill as the fulfillment of a major campaign promise to the youth. He assured that the Authority would act as a model for around-the-clock job creation, directly tackling youth unemployment.
“The Majority Caucus of the NDC in Parliament is happy to announce that we have just passed the 24-Hour Economy Authority Bill,” Ayariga stated. “This promise to transform the economy into a major employer for the millions of youth who voted for the NDC was largely hinged on this model.”
Critique of Past Economic Management
Ayariga contrasted the new policy with the economic climate of the past eight years under the previous NPP administration. He cited high inflation, excessive taxation, and currency volatility as factors that drove jobs and factories out of the country.
“The economic challenges led to many factories opting to relocate to places with better stability,” he observed.
Next Steps and Acknowledgments
The Majority Leader outlined that the government has already begun taking steps to address these challenges, including injecting capital into the financial sector to support the broader economic transformation.
He also extended gratitude to Augustus Goosie Tanoh, the Presidential Advisor for the 24-Hour Economy and Accelerated Export Development, who sponsored the bill. Ayariga expressed confidence in Tanoh’s ability to lead the programme’s implementation.
The establishment of the Authority marks a significant shift in Ghana’s economic policy, aiming to stimulate growth through extended business operations and enhanced export development.
Kwaku Sakyi-Danso/Ghanamps.com