Ghana’s 24-Hour Economy Plus (24H+) initiative has received a major boost following the signing of a Memorandum of Understanding (MoU) between the Government of Ghana and the Arab Bank for Economic Development in Africa (BADEA). The deal unlocks up to US$500 million in financing to support key sectors of the economy.
The agreement, signed at the Bank of Ghana headquarters in Accra, will provide concessional loans, trade finance, SME on-lending, and public–private partnership investments. The first tranche of US$60 million will be channelled through the Development Bank Ghana for on-lending to small and medium-sized enterprises.
Speaking at the ceremony, Presidential Advisor on the 24-Hour Economy, Goosie Tanoh, stressed that the programme was more than a political slogan.
“The 24-Hour Economy is not just branding, it is a systemic transformation of how Ghana produces, distributes, consumes, and competes globally. At its core, the 24H+ programme is about unlocking Ghana’s full productive capacity, creating jobs, stimulating investment, and changing how government itself functions,” he said.
Mr. Tanoh underscored the need for a whole-of-government approach, warning against fragmented policies. He called on ministries and agencies to work in synergy, linking transport with trade, energy with industry, and agriculture with finance, to deliver results. He also reminded the Civil Service of its central role in translating policy into action.
On his part, Dr. Sidi Ould Tah, President of BADEA, reaffirmed the Bank’s commitment to Ghana’s economic transformation. He described the agreement as the beginning of a “dynamic journey of partnership” aimed at modernising agriculture, manufacturing, and food distribution, while also boosting exports and creating jobs.
“This MoU opens the door to technical assistance, trade finance facilities to strengthen Ghana’s food security strategy, SME on-lending programmes, and PPP projects to accelerate investment in critical infrastructure and industrial competitiveness,” Dr. Ould Tah said.
He further assured that BADEA’s support would extend beyond financing, pledging close collaboration with the 24H+ Secretariat, the Ministry of Finance, and other partners to ensure tangible outcomes.
The partnership is expected to significantly contribute to the government’s target of mobilising over US$4 billion in the next five years to drive the 24-Hour Economy. Both sides stressed that success would be measured not by promises or reports, but by jobs created, exports boosted, productivity enhanced, and real improvements in the daily lives of Ghanaians.
By Bawa Musah
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