Mahama Promises Industrial Boom as 24-Hour Economy Authority Takes Off
President says new Authority will cut production costs, boost exports and spark a productivity revolution in industry
- 24-Hour Economy Authority established to boost industrial productivity
- Factories encouraged to run three shifts to maximize output
- Incentives include lower night electricity tariffs and tax exemptions on machinery
John Dramani Mahama has assured the private sector that the newly created 24-Hour Economy Authority will drive a productivity revolution across Ghana’s manufacturing and industrial sectors.
Speaking at the Presidential Dialogue with the Private Sector in Accra, the President explained that the policy will enable continuous production by allowing factories and industries to operate in three shifts daily. This approach, he said, will maximize the use of capital, infrastructure and labour while accelerating industrial growth.
President Mahama stressed that Ghana cannot achieve rapid industrial transformation if costly machinery and factory plants remain idle for extended periods. He noted that round-the-clock production would increase output, lower unit production costs and improve the competitiveness of locally made goods both on domestic and international markets.
He emphasized that productivity must now become the central pillar of Ghana’s economic transformation, moving beyond macroeconomic stability to sustained industrial expansion.
To support businesses, the government is introducing key incentives, including shift-based operational support, reduced off-peak electricity tariffs to lower nighttime energy costs, enhanced industrial security, and targeted tax exemptions on machinery and equipment for factory expansion.
The President added that the 24-Hour Economy Authority will work closely with key institutions, including ministries, the Bank of Ghana and investment agencies, to eliminate bureaucratic delays and create a more business-friendly environment.
He further noted that the initiative aligns with Ghana’s strategic role under the African Continental Free Trade Area (AfCFTA), headquartered in Accra. With increased production capacity, Ghanaian manufacturers will be better positioned to supply regional markets, expand exports and compete strongly across Africa.
President Mahama assured investors and businesses of government’s commitment to providing reliable power, policy certainty and infrastructure to sustain the initiative. He urged the private sector to seize the opportunity by expanding operations, upgrading workforce skills and maintaining high production standards.
“The Ghana we seek will not be built by rhetoric,” he declared. “It will be built by factories operating at scale; day and night producing for Ghana, Africa and the world.”
