Pres Mahama assents to 24-Hour Economy Authority Bill …clears path for implementation of flagship policy

THE President, John Dramani Mahama, has assented to the 24-Hour Economy Authority Bill, clearing the way for full implementation of the government’s flagship economic policy.

He said that after more than a year of careful work to ensure a well-crafted and workable law, the time had come to move from planning to action.

“We needed to go patiently through the process to give legal effect to it. So from now, we must move from strategy to implementation,” President Mahama stated when he signed the bill at his office in Accra yesterday.

The signing ceremony was witnessed by the Vice President, Prof. Jane Naana Opoku-Agyemang, the Chief of Staff, Mr Julius Debrah, and ministers of state including Mr Mohammed-Mubarak Muntaka, Mr Rashid Pelpuo, Ms Elizabeth Ofosu-Adjare, and Dr Dominic Ayine, among other senior government officials.

President Mahama noted that Ghanaians and investors were keen to see the benefits of the policy. “They want to see the package of incentives that we can afford, so that they can invest more and expand productivity and also create more employment for our young people and so it’s my pleasure to assent to this bill today,” he said.

He commended the team behind the programme for their dedication and expressed confidence that it would deliver the intended results.

The Bill, which was laid before Parliament in December last year, was passed a fortnight ago.

The new authority will oversee the implementation of the 24-Hour Economy and Accelerated Export Development Programme, a key National Democratic Congress 2024 election campaign message.

The initiative seeks to drive the integrated and sustainable transformation of national systems for production, supply chains, marketing and labour development.

The policy aims to reset Ghana’s post-colonial, import-dependent, low-value raw material export economy into a modern, self-reliant and globally competitive system that operates around the clock to boost productivity, promote sustainable growth, create jobs and strengthen food security.

It is anchored on three transformational pillars: production, market and supply chain development, and human capital development.

BY JULIUS YAO PETETSI

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