Ghana is on the brink of a transformative economic shift, but here’s where it gets controversial: Parliament has just passed the 24-Hour Economy Authority Bill, 2025, a move that promises to turbocharge the nation’s export development program. But is this the game-changer it’s touted to be, or just another layer of bureaucracy? Let’s dive in.
The bill sets the stage for the establishment of the 24-Hour Economy Authority, a body tasked with implementing the government’s ambitious 24-Hour Economy and Accelerated Export Development Programme. At its core, the initiative rests on three pillars: transforming production systems, strengthening supply chains and market systems, and fostering labor development. Sounds promising, right? But this is the part most people miss: the Authority itself isn’t the magic wand that will instantly create a round-the-clock economy.
During the parliamentary debate, Majority Leader Mahama Ayariga clarified that the Authority will function more like a Coordinating Secretariat, ensuring ministries and agencies work in harmony to boost productivity and job creation. “It’s a Secretariat already in place under the Office of the President,” Ayariga explained. “We’re elevating it to an Authority so it can collaborate directly with ministers and sector ministries.” He also pointed out that past policies, like the NPP’s Planting for Food and Jobs initiative, faltered due to weak production systems—a gap this new framework aims to address.
But not everyone is convinced. Kojo Oppong Nkrumah, MP for Ofoase Ayirebi, vehemently opposed the bill, arguing it would balloon bureaucracy and squander state resources. “Look at cities like New York, Tokyo, or Dubai—none of them needed a 24-Hour Economy Authority to thrive,” he stated. “This bill creates a new layer of administration without guaranteeing the 24-hour economy it promises.” Nkrumah also criticized the Authority as redundant, overlapping with existing bodies like the Ghana Export Promotion Authority (GEPA).
Another sticking point? The bill doesn’t outline which agencies, such as the DVLA, will operate 24/7, as pledged by the NDC during the 2024 election campaign. Nkrumah also challenged the Majority’s claim that 1,000 jobs have already been created under the program, demanding proof. The only aspect he found aligned with the policy’s goal was the proposed incentive regime for companies operating in the 24-hour economy value chain.
So, is this a bold step forward or a bureaucratic misstep? Ayariga urged the Minority to study the policy document to grasp its vision, admitting, “It’s naive to think we can fix a struggling economy overnight.” But the question remains: Can this Authority truly deliver on its promises, or will it become another example of policy overreach?
What do you think? Is the 24-Hour Economy Authority the key to Ghana’s economic future, or a costly detour? Share your thoughts in the comments—let’s spark a debate!
