Parliament establishes 24-Hour Economy Authority to spur growth and jobs

Parliament Establishes 24-Hour Economy Authority to Spur Growth and Jobs

Accra, Feb. 06, 2026 – Parliament has passed the 24-Hour Economy Authority Bill, 2025, paving the way for the creation of a new body tasked with transforming Ghana into a round-the-clock economy.

The new Authority will provide the legal and regulatory framework for formalising and implementing the government’s 24-Hour Economy and Accelerated Export Development Programme. The policy is designed to boost productivity, create jobs, and reduce the nation’s reliance on exporting raw materials while curbing the import of costly finished goods.

Following the bill’s passage, Majority Leader Mahama Ayariga described the move as a fulfilment of the government’s promise to tackle unemployment, particularly among the youth. “If the country is working 24 hours, more labour will be needed across multiple shifts,” he stated. Ayariga linked previous job losses to high taxation, financial sector instability, and the exit of local factories, underscoring the need for a new economic approach.

The bill, which received bipartisan support, was introduced by the Deputy Attorney General, Dr. Justice Srem-Sai, in December 2025 and was reviewed by the Committee on Constitution and Legal Affairs.

However, the legislation faced criticism during debates last Wednesday. Ranking Member on the Economy and Development Committee, Kojo Oppong Nkrumah, argued that the Authority duplicates functions of existing ministries and agencies, such as the Ministry of Trade and the Ghana Export Promotion Authority. He also urged the government to provide policy documents earlier to allow for fuller scrutiny.

The bill now awaits presidential assent to become law. If enacted, the 24-Hour Economy Authority will coordinate policies and programmes aimed at enabling round-the-clock economic activity, with the goal of driving inclusive growth and structural transformation.