Ghana Moves to Elevate 24-Hour Economy Secretariat to Statutory Authority

Parliament will debate legislation to convert the 24-Hour Economy Secretariat into a statutory authority, Presidential Adviser Goosie Tanoh confirmed on July 1.

The move aims to strengthen governance and efficiency for President Mahama’s flagship economic initiative ahead of its official launch.

Tanoh stated the transition has executive approval and will proceed with support from the National Democratic Congress’ parliamentary majority. “Debate on the programme’s content will justify creating the authority. It is inevitable,” he said during an Accra press briefing. The restructured body would oversee Ghana’s shift to round-the-clock productivity models across prioritized sectors.

The adviser identified inconsistent incentives as a key investor concern: “Local and foreign investors cite unpredictability in our incentive regime.” He emphasized the policy would establish “coherent, performance-based systems” rather than location-focused benefits. The authority’s formation aligns with earlier plans to mobilize $4 billion through blended finance for SME and infrastructure development.

Opposition voices, including IMANI Africa’s Kofi Bentil, previously questioned the policy’s feasibility amid fiscal constraints. The institutional upgrade signals the administration’s commitment to embedding the initiative beyond its electoral term.