President Mahama proposes duty-free import for 24-Hour Economy

President John Dramani Mahama has proposed that factories operating under Ghana’s 24-Hour Economy programme should be allowed to import capital equipment without paying duties and taxes, as part of efforts to boost industrial growth.

He made the announcement on February 24, 2026, during a ceremony in Shama in the Western Region, at the event where he performed the sod-cutting for a new float glass manufacturing plant, commissioned a sanitary ware factory and inaugurated phase five of a ceramic tile production line.

“Factories registered under the 24-Hour Economy programme will be allowed to import machinery and equipment without paying duties and taxes. This will make it easier for them to scale up operations and compete globally,” President Mahama said.

He explained that the proposal came after private sector operators raised concerns about the high cost of importing machinery to set up or modernise factories.

“For factories that are established and registered under the 24-Hour Economy Initiative, if they want to expand or bring in new equipment to retool their factories, they should be able to bring that equipment into the country duty and tax-free,” he stated.

According to the President, the incentive is meant to encourage more investment in local manufacturing, reduce Ghana’s dependence on imports and create sustainable jobs.

President Mahama assents to 24-Hour Economy Authority Bill

He also revealed that he granted presidential assent to the 24-Hour Economy Authority Bill about two weeks ago, making the authority officially operational.

President Mahama said business leaders strongly raised concerns about import duties during a recent Presidential Dialogue with the private sector, describing the charges as a major obstacle to expansion and new investment.

“That is why I can assure investors that the incentives are coming,” he said.

He stressed that production is key to strengthening the country’s economy and currency.

“Production underpins the value of currency, not by speculation, but by production and exports,” he stated.

Speaking about the float glass manufacturing project, the President described it as a strategic move to reduce imports, noting that Ghana currently imports most of its glass products.

He disclosed that in 2024 alone, Ghana imported more than 65,000 tonnes of glass products at a cost of nearly $25 million to serve the construction, automobile and manufacturing sectors.

When completed and fully operational, the new factory is expected to reduce imports, save foreign exchange and generate export revenue. It is also projected to create more than 2,000 direct jobs, along with many indirect employment opportunities.

President Mahama said the government’s approach is based on stability and cooperation between the state, investors and local communities.

“Industrialisation succeeds when government provides stability, investors provide capital and communities provide partnership,” he said.

SO/VPO

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