The Ghana Association of Banks (GAB) says the country’s commercial banks are ready to provide financial backing for the government’s flagship 24-Hour Economy initiative — but only projects with strong prospects for growth and sustainability will qualify.
John Awuah, Chief Executive Officer of the GAB, stressed that while banks are committed to supporting the programme, financing decisions will hinge on careful assessment of project proposals to safeguard both economic returns and depositors’ funds.
Speaking in an exclusive interview sighted by Accra Street Journal after a roundtable between the 24-Hour Economy Secretariat and Ghana’s banking community, Awuah described the engagement as “a vital first step” in aligning the programme with the financial sector.
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“At least the 24-hour programme has been opened up to the banking community. We have taken the presentations, and we’re going to study and evaluate them to see where banks can plug in. You need the financial system to oil the programme, and we are committed to doing exactly that,” he said.
Funding Hinges on Viability
The roundtable presented banks with a series of projects requiring financing — from infrastructure and industrial expansion to agribusiness and logistics. Awuah said banks welcomed the opportunity but warned that funding will not be automatic.
“Obviously, you need to know what you’re going into. Banks are ready, but you need to see what is available before you can begin talking. All is good in the presentation, but the sweetness of the pudding is in the eating,” he cautioned.
By tying funding to project viability, banks aim to minimise risk exposure, maximise economic returns, and ensure that depositors’ money is channelled into ventures that can deliver real value.
Bridging Policy and Finance
Augustus Goosie Tanoh, Presidential Advisor on the 24-Hour Economy and Accelerated Export Development Programmes, led the Secretariat’s presentations. He emphasised that bank involvement is crucial to transform the policy vision into tangible projects capable of creating jobs, driving industrialisation, and diversifying Ghana’s economy.
The banking community’s willingness to engage provides the clearest signal yet that the 24-Hour Economy — a policy designed to spur round-the-clock business activity — could transition from political rhetoric to practical implementation.
The Road Ahead
While the Secretariat has laid out ambitious proposals, the initiative’s future will depend on two critical factors: the quality of projects submitted for financing, and the banks’ ability to structure funding in ways that balance opportunity with risk.
If executed effectively, the 24-Hour Economy could stimulate job creation, improve productivity, and expand Ghana’s industrial base. But if weak projects are pushed forward, the programme risks undermining both investor confidence and public trust in the financial system.
For now, banks remain cautiously optimistic — ready to back the programme, but insistent that only well-designed, commercially viable ventures will receive financial support.
Source: Accra Street Journal
Last Updated on September 23, 2025 by Samuel Kwame Boadu
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Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.
