President John Dramani Mahama unveiled a sweeping set of incentives for businesses operating under Ghana’s flagship 24-Hour Economy initiative at the 2026 Kwahu Business Forum in Mpraeso, Eastern Region. The policy, which aims to keep Ghana’s economy running around the clock, now comes with concrete benefits designed to make round-the-clock business operations more attractive and viable.
What the Incentives Include
Companies registered under the 24-Hour Economy programme will be eligible for duty-free importation of plant and machinery, reducing the cost of setting up multi-shift production lines. In addition, qualifying businesses will benefit from fast-track port clearance within 24 hours, significantly cutting down delays that have historically increased operational costs for manufacturers and importers.
Parliament has already passed the 24-Hour Economy Authority Bill, giving the initiative a formal legal structure. The bill establishes an authority to oversee implementation, coordinate incentives, and hold businesses accountable for the employment and output commitments required to qualify for benefits.
Why It Matters for Ghana
Ghana’s economy has made remarkable strides in recent months. Annual inflation has fallen from 22.4% in March 2025 to just 3.2% in March 2026 — a 19.2 percentage point drop in one year. The cedi has stabilised considerably from its 2024 lows, and investor confidence is gradually returning.
The 24-Hour Economy policy is designed to sustain and accelerate this momentum by unlocking idle industrial capacity. Ghana currently loses significant economic output each day because factories, ports, and service businesses operate far below capacity during evening and nighttime hours. The government estimates the policy could create hundreds of thousands of jobs if adopted broadly across manufacturing, logistics, retail, and hospitality.
President Mahama’s Vision
“We want to support businesses to expand production and boost industrial growth,” President Mahama said at the Forum, urging business leaders to adopt the policy not just for incentives but as a strategic competitive advantage. He also called on larger companies to invest in smaller enterprises through mergers and acquisitions, arguing that consolidation would strengthen Ghana’s overall industrial base.
The President further encouraged businesses operating under the programme to embrace tax compliance and long-term succession planning, describing sustainability as central to the initiative’s success. The Kwahu Business Forum itself is set to be elevated into a permanent, world-class convention and exhibition centre in collaboration with private partners Metalex and Trasacco.
The Road Ahead
Implementation will roll out in phases, starting with sectors where multi-shift operations are most feasible — including food processing, textiles, pharmaceuticals, and logistics. The government has also pledged to work with energy providers to ensure reliable 24-hour electricity supply, widely seen as a precondition for the policy’s success.
Leave a Reply