24 Hour Economy Authority Act, 2026

Section 24-Hour Economy Authority 1. Establishment of the 24-Hour Economy Authority 2. Object of the Authority 3. Functions of the Authority Governance of the Authority 4. Governing body of the Authority 5. Functions of the Board 6. Duties and liabilities of a member of the Board 7. Tenure of office of members of the Board 8. Meetings of the Board 9. Disclosure of interest 10. Establishment of committees 11. Allowances 12. Oversight Administrative Provisions 13. Appointment of Chief Executive Officer 14. Functions of the Chief Executive Officer 15. Appointment of other staff 16. Secretary to the Board 17. Internal Audit Unit Financial Provisions 18. Funds of the Authority 19. Bank accounts of the Authority 20. Expenses of the Authority 21. Exemption from taxes 22. Borrowing powers 23. Accounts and audit 24. Annual report and other reports Act 1164 24-HOUR ECONOMY AUTHORITY ACT, 2026 Miscellaneous Provisions 25. Regulations 26. Modification of existing enactments 27. Interpretation 28. Transitional provision 2 Act 1164 The One Thousand one hundred and sixty-fourth ACT OF THE PARLIAMENT OF THE REPUBLIC OF GHANA ENTITLED 24-HOUR ECONOMY AUTHORITY ACT, 2026 AN ACT to establish the 24-Hour Economy Authority to implement the 24-Hour Economy and Accelerated Export Development Programme and provide for related matters. DATE OF ASSENT: 19h February, 2026. MASSED by Parliament and assented to by the President: 24-Hour Economy Authority Establishment of the 24-Hour Economy Authority 1. (1) There is established by this Act, the 24-Hour Economy Authority as a body corporate. (2) The Authority may, for the performance of the functions of the Authority, acquire and hold property, dispose of property and enter into a contract or any other related transaction. (3) Where there is a hindrance to the acquisition of land, the land may be acquired for the Authority under the Land Act, 2020 (Act 1036) and the cost shall be borne by the Authority. 3 Act 1164 24-Hour Economy Authority Act, 2026 Object of the Authority 2. The object of the Authority is to ensure the integrated, sustainable transformation of national systems for economic production, supply chain, marketing and labour power development. Functions of the Authority 3. To achieve the object under section 2, the Authority shall in collaboration with relevant agencies (a) promote the optimisation of the volume, variety and quality of products produced in the country for domestic consumption and export; (b) promote the development of the micro, small and medium­ scale enterprise; (c) promote the role of the micro, small and medium-scale enterprise sector in inclusive wealth creation and development through cooperative enterprise; (d) promote collaboration among producers in the country and providers of affordable finance, technology, data services and management resources; (e) support, facilitate and develop job creation and decent work; (f) promote holistic policy and systems that support the development of a productive and safe night-time economy; (g) facilitate the national culture of community self-organisation and mobilisation; (h) support the designation and development of strategic economic corridors for the rapid synergistic expansion of different kinds of production; (i) advocate for policies that improve the competitiveness of local producers and exporters; 0) incorporate a scheme funded by grants from lenders, investors and donors for the provision of grants for capacity building, education, training and other social interventions; (k) propose the incentive regime applicable to companies operating in the 24-hour economy value chain, including fiscal and monetary incentives; 4 24-Hour Economy Authority Act, 2026 Act 1164 (I) establish or incorporate entities to facilitate the achievement of the object of the Authority; and (m) perform any other function ancillary to the attainment of the object of the Authority. Governance of the Authority Governing body of the Authority 4. (1) The governing body of the Authority is a Board consisting of (a) a chairperson; (b) the Chief Executive Officer; and (c) five other persons with specialised knowledge and experience in matters relevant to the functions of the Authority, nominated by the President, at least two of whom are women. (2) The President shall, in accordance with article 70 of the Constitution, appoint the members of the Board. Functions of the Board 5. (1) The Board is, subject to this Act, responsible for the strategic direction and policies of the Authority. (2) Without limiting subsection (1), the Board shall ensure (a) the achievement of the object of the Authority; and (b) the effective and efficient performance of the functions of the Authority. Duties and liabilities of a member of the Board 6. (1) A member of the Board has the same fiduciary relationship with the Authority and the same duty to act with loyalty and in good faith as a director of a company incorporated under the Companies Act, 2019 (Act 992). (2) Without limiting subsection (1), a member of the Board has a duty (a) to act honestly and in the best interest of the Authority in the performance of the functions of that member; (b) to exercise a degree of care and diligence in the performance of the functions of that member; 5 Act 1164 24-Hour Economy Authority Act, 2026 (c) not to use information acquired by virtue of the position of that member to benefit that member or to the detriment of the Authority without authorisation; and (d) not to pursue the personal interest of the member of the Board at the expense of the Authority. (3) A member of the Board who contravenes subsection (1) or (2) commits an offence and is liable on summary conviction to a fine of not less than one hundred penalty units and not more than two hundred and fifty penalty units. (4) Where a court determines that the Authority has suffered loss or damage as a consequence of the act or omission of a member, the court may, in addition to imposing a fine, order the member convicted to pay appropriate compensation to the Authority. Tenure of office of members of the Board 7. (1) A member of the Board shall hold office for a period of four years and is eligible for re-appointment for another term only. (2) Subsection (1) does not apply to the Chief Executive Officer. (3) A member of the Board may at any time resign from office in writing addressed to the President. (4) A member of the Board, other than the Chief Executive Officer, who is absent from three consecutive meetings of the Board without sufficient cause ceases to be a member of the Board. (5) The President may by a letter addressed to a member revoke the appointment of that member. (6) Where a member of the Board is, for a sufficient reason, unable to act as a member, the chairperson shall determine whether the inability of the member to act would result in the declaration of a vacancy. (7) Where there is a vacancy (a) under subsection (3), (4), (5) or subsection (2) of section 9, (b) as a result of a declaration under subsection (6), or (c) by reason of the death of a member the chairperson shall notify the President of the vacancy and the President 6 24-Hour Economy Authority Act, 2026 Act 1164 shall appoint another person to fill the vacancy in accordance with this Act. (8) A person appointed as a member of the Board by virtue of subsection (7) shall hold office for the unexpired term. Meetings of the Board 8. (1) The Board shall meet at least once every three months for the conduct of business. (2) The chairperson shall, at the request in writing of not less than one-third of the membership of the Board, convene an extraordinary meeting of the Board at a time and place determined by the chairperson. (3) The chairperson shall preside at meetings of the Board and in the absence of the chairperson a member of the Board elected by the members present from among their number shall preside. (4) The quorum for a meeting of the Board is five members of the Board. (5) Matters before the Board shall be decided by a majority of the members present and voting and in the event of an equality of votes, the chairperson shall have a casting vote. (6) The Board may co-opt a person to attend a meeting of the Board but that person shall not vote on a matter for decision at the meeting. (7) The proceedings of the Board shall not be invalidated by reason of a vacancy among the members or a defect in the appointment or qualification of a member. (8) Subject to this section, the Board shall determine the procedure for the meetings of the Board. Disclosure of interest 9. (1) A member of the Board who has an interest in a matter for consideration (a) shall disclose in writing the nature of that interest and the disclosure shall form part of the record of the consideration of the matter; and (b) is disqualified from being present at or participating in the deliberations of the Board in respect of that matter. 7 Act 1164 24-Hour Economy Authority Act, 2026 (2) A member ceases to be a member of the Board, if that member has an interest in a matter before the Board and (a) fails to disclose that interest; or (b) is present at or participates in the deliberations of the Board in respect of that matter. (3) Without limiting any further cause of action that may be instituted against the member, the Board shall recover any benefit derived by a member who contravenes subsection (1), in addition to the revocation of the appointment of the member. Establishment of committees 10. (1) The Board may establish committees consisting of members or non-members of the Board or both to deliberate on matters and make recommendations to the Board. (2) A committee composed of members and non-members of the Board shall be chaired by a member of the Board. (3) Section 9 applies to members of a committee of the Board. Allowances 11. Members of the Board and members of a committee of the Board shall be paid allowances approved by the Minister responsible for Finance. Oversight 12. (1) The Authority is responsible to the President. (2) The President may in writing, designate a Minister to perform functions assigned by the President. (3) The Minister under subsection (2) shall cany out the directives of the President. Administrative Provisions Appointment of Chief Executive Officer 13. (1) The President shall, in accordance with article 195 of the Constitution, appoint a Chief Executive Officer for the Authority. (2) The Chief Executive Officer shall hold office on the terms and conditions specified in the letter of appointment. 8 24-Hour Economy Authority Act, 2026 Act 1164 Functions of the Chief Executive Officer 14. (1) The Chief Executive Officer (a) is responsible for the day-to-day administration of the Authority; and (b) shall ensure the implementation of the decisions of the Board. (2) The Chief Executive Officer may delegate a function to an officer of the Authority but shall not be relieved of the ultimate responsibility for the performance of the delegated function. Appointment of other staff 15. (1) The President shall, in accordance with article 195 of the Constitution, appoint other staff of the Authority that are necessary for the efficient and effective performance of the functions of the Authority. (2) Other public officers may be transferred or seconded to the Authority or may otherwise give assistance to the Authority. (3) The Authority may, in consultation with the Board, engage the services of consultants and advisers. Secretary to the Board 16. (1) The Board shall appoint a Secretary to the Board. (2) The Secretary shall (a) ensure that the business of the Board is arranged; (b) record or cause to be recorded and keep the minutes of meetings of the Board; and (c) perform any other function that the Board may direct. Internal Audit Unit 17. (1) The Authority shall have an Internal Audit Unit in accordance with section 83 of the Public Financial Management Act, 2016 (Act 921). (2) The Internal Audit Unit shall be headed by an Internal Auditor who shall be appointed in accordance with the Internal Audit Agency Act, 2003 (Act 658). 9 Act 1164 24-Hour Economy Authority Act, 2026 (3) The Internal Auditor is responsible for the internal audit of the Authority. (4) The Internal Auditor shall, subject to subsections (3) and (4) of section 16 of the Internal Audit Agency Act, 2003 (Act 658), at intervals of three months (a) prepare and submit to the Board, a report on the internal audit carried out during the period of three months immediately preceding the preparation of the report; and (b) make recommendations in each report, with respect to matters which appear to the Internal Auditor as necessary for the conduct of the affairs of the Authority. (5) The Internal Auditor shall, in accordance with subsection (4) of section 16 of the Internal Audit Agency Act, 2003 (Act 658), submit a copy of the report prepared under this section to the chairperson of the Board. Financial Provisions Funds of the Authority 18. The funds of the Authority include (a) moneys approved by Parliament; (b) loans; (c) internally generated funds; (d) returns on investments; and (e) donations, gifts and grants. Bank accounts of the Authority 19. (1) Moneys for the Authority shall be paid into a bank account opened for the purpose with the approval of the Controller and Accountant-General. (2) Subject to the Public Financial Management Act, 2016 (Act 921), the Authority may open, maintain and operate bank accounts in foreign currency both within and outside the country and receive payments in any currency. 10 24-Hour Economy Authority Act, 2026 Act 1164 Expenses of the Authority 20. The expenses of the Authority shall be a charge on the funds of the Authority. Exemption from taxes 21. Subject to Article 174 of the Constitution and the Exemptions Act, 2022 (Act 1083), the Authority is exempt from the payment of taxes that the Minister responsible for Finance may, in writing, determine with the prior approval of Parliament. Borrowing powers 22. Subject to article 181 of the Constitution and section 76 of the Public Financial Management Act, 2016 (Act 921), and with the prior consent in writing of the Minister responsible for Finance, the Authority may (a) borrow money from the Government, a body corporate or any other person; and (b) for the purposes of securing the money borrowed, mortgage, charge or pledge a right, a title or an interest in any of the properties of the Authority. Accounts and audit 23. (1) The Board shall keep books, records, returns and other documents relevant to the accounts in the form approved by the Auditor-General. (2) The Board shall submit the accounts of the Authority to the Auditor-General for audit at the end of the financial year. (3) The Auditor-General shall, within six months after the end of the immediately preceding financial year, audit the accounts and forward a copy each of the audit report to the Minister and the Board. (4) The financial year of the Authority is the same as the financial year of the Government. Annual report and other reports 24. (1) The Board shall, within thirty days after the receipt of the audit report, submit an annual report to the President and the Minister, covering 11 Act 1164 24-Hour Economy Authority Act, 2026 the activities and the operations of the Authority for the year to which the report relates. (2) The annual report shall include (a) the report of the Auditor-General; (b) an assessment of the targets of the Authority; (c) a summary of the challenges faced by the Authority and feedback on the activities and operations of the Authority from stakeholders; and (d) recommendations to improve on the effective and efficient performance of the functions of the Authority. (3) The Minister shall, within thirty days after the receipt of the annual report, submit the report to Parliament with a statement that the Minister considers necessary. (4) The Board shall also submit to the Minister any other report which the Minister may require in writing. Miscellaneous Provisions Regulations 25. (1) The Minister may, on the advice of the Board, by legislative instrument, make Regulations generally for the effective and efficient implementation of this Act. (2) Without limiting subsection (1), the Regulations may provide for (a) the design, duration, content, development and implementation of the 24-Hour Economy and Accelerated Export Development Programme; (b) the procedure for the disbursement and allocation of funds to micro, small and medium-scale enterprises and other persons; (c) the scheme for the award of exemptions and incentives to enterprises participating in the 24-hour economy value chains; and (d) the administrative penalties to be imposed under the Regulations. 12 24-HourEconomy Authority Act, 2026 Act 1164 Modification of existing enactments 26. Where there is a conflict or inconsistency between the provisions of this Act and any other enactment relevant to this Act, the provisions of this Act shall prevail. Interpretation 27. In this Act, unless the context otherwise requires, “Authority” means the 24-Hour Economy Authority established under section 1; “Chief Executive Officer” means the person appointed under section 13; “Minister” means the Minister referred to in subsection (2) of section 12; “24-Hour Economy and Accelerated Export Development Programme” means a cross-sectoral economic development programme that seeks to modernise, re-organise and restructure the productive sectors of the economy to achieve, among others, (a) increased self-reliance and reduction of imports; (b) value chain integration to produce more finished products; (c) optimisation and improvement of productivity in the use of labour, natural resources and capital; (d) increased volumes of production and diversified production to achieve meaningful employment; (e) enhanced domestic production for (i) food self-sufficiency; (ii) raw material supply to industry; and (iii) increased exports to the Economic Community of West African States and the global market; and 69 improved work culture, mind-set and productivity in the context of equitable production relations and socio-cultural values. 13 Act 1164 24-Hour Economy Authority Act, 2026 Transitional provision 28. A contract subsisting between the Presidential Advisor on the 24-Hour Economy and Accelerated Export Development Programme and another person and in effect immediately before the coming into force of this Act shall subsist between the Authority established under this Act and that other person, subject to modifications that are necessary to ensure compliance with this Act. 14 24-Hour Economy Authority Act, 2026 Act 1164 Date of Gazette notification: 19th February, 2026. 15 PRINTED BY GHANA PUBLISHING COMPANY LTD. ASSEMBLY PRESS, ACCRA. GPCL/A174/450/02/2026 Website:www.ghanapublishing.com Email:info@ghanapublishing.com Tel: +233 0302-664338/9 Website:www.ghanapublishing.com mailto:info@ghanapublishing.com