By Boakye Stephen, Kumasi | Reporting for Ghanaian News Canada
President John Dramani Mahama has signed the 24-Hour Economy Authority Bill, 2025, into law, marking a major step in the government’s flagship plan to transform Ghana’s economy, while in a separate development a U.S. federal court is set to hear the bond application of former Finance Minister Ken Ofori-Atta today, February 19.
At a brief ceremony ahead of the 13th Cabinet meeting, President Mahama gave presidential assent to the bill, describing it as a long-awaited legal framework to drive productivity and economic growth.
“Cabinet colleagues, I just appended my signature to give assent to the 24-Hour Authority Bill. This Bill, which Ghanaians have been waiting for, was one of our flagship strategies for economic transformation,” the President said.
He explained that the delay in signing the legislation was to allow for due diligence and proper legal grounding, and stressed that the focus must now shift to implementation.
“Now we must move from strategy to implementation. The business sector is waiting, Ghanaian investors are waiting, foreign investors are waiting,” he added, noting that investors are expecting incentive packages to support expansion, productivity, and job creation, particularly for the youth.
The new law establishes a 24-Hour Economy Authority to coordinate policy rollout, align public- and private-sector participation, and tackle infrastructure and regulatory challenges needed for round-the-clock economic activity.
Ofori-Atta bond hearing in U.S.
Meanwhile, in the United States, a federal judge is expected to hear arguments today in the bond case involving former Finance Minister Ken Ofori-Atta.
Judge David A. Gardey has requested documented proof that Ghana has formally initiated extradition proceedings, stating the court “cannot act on assertions without proof.” The judge had earlier paused a decision on bail after a January 20 closed-door session, during which U.S. state attorneys opposed Ofori-Atta’s release, citing a pending extradition request from Ghana.
Ofori-Atta, who served under the previous New Patriotic Party (NPP) administration, has been in the custody of U.S. Immigration and Customs Enforcement (ICE) since early January after his visitor visa was revoked. Prosecutors argue he no longer has lawful grounds to remain in the United States.
His legal team maintains that he has cooperated with authorities and is pursuing legal options, including an adjustment-of-status application that could allow him to remain in the U.S. They also point to the removal of an INTERPOL Red Notice against him, which they claim had a “predominantly political” character.
Ghanaian authorities, however, are seeking his extradition to face charges at home, with the process now hinging on formal documentation being presented before the U.S. court rules on his bond.
Commentary
The simultaneous development of a newly signed 24-hour economy law and the high-profile legal battle involving a former finance minister reflects a defining moment in Ghana’s governance and economic direction.
On one hand, the 24-hour economy policy signals ambition and urgency. If properly implemented, it could stimulate production, create jobs, and deepen industrial activity beyond the traditional 8-to-5 structure. However, its success will depend heavily on reliable electricity, security, transport systems, and clear incentives for private sector participation. Without these foundational supports, the policy risks becoming more symbolic than transformational.
On the other hand, the Ofori-Atta case underscores the growing demand for accountability in public office. Regardless of political affiliations, many Ghanaians will be watching closely to see whether due process is followed both in Ghana and abroad. The case has implications not only for the individuals involved but also for Ghana’s international legal credibility and institutional strength.
Taken together, these developments present Ghana with a dual test: the ability to implement bold economic reforms while demonstrating transparency, rule of law, and institutional maturity. Investors, both local and foreign, are likely to judge the country not just by policy announcements but by execution, stability, and fairness.
The coming weeks will therefore be crucial. Whether the 24-hour economy becomes a genuine engine of growth and whether the legal proceedings abroad reinforce confidence in Ghana’s justice processes will shape national discourse and economic confidence moving forward.
