President John Dramani Mahama has signed into law the 24-Hour Economy Authority Bill, giving legal backing to one of his administration’s flagship economic transformation strategies.
The signing ceremony took place on Thursday, February 19, shortly before the commencement of a Cabinet meeting. With his signature, the President officially established the 24-Hour Economy Authority, paving the way for full-scale implementation of the policy aimed at boosting productivity and creating jobs.
Announcing the milestone, President Mahama said he had “just appended my signature to give assent to the 24-hour authority bill,” describing it as legislation “Ghanaians have been working for.” He noted that the policy had long been positioned as a key driver of economic transformation.
According to him, the process of getting the bill passed required patience and careful legal work to ensure it was properly grounded. “It’s taking a while, but we needed to go patiently through the process to give legal effect to it,” he explained.
With the bill now signed into law, the President stressed that the focus must shift from planning to action. “From now, we must move from strategy to implementation. The business sector is waiting. Ghanaian investors are waiting. Foreign investors are waiting,” he said.
He urged the newly established Authority to swiftly roll out an attractive package of incentives to the business community to encourage expansion and increased output. The goal, he emphasized, is to “invest more and expand productivity, and also create more employment for our young people.”
President Mahama expressed satisfaction at the milestone and congratulated the team behind the initiative, singling out Guzitando and his colleagues for their efforts in seeing the bill through to passage.
