As the government’s 24-Hour Economy (24H+) initiative takes shape following the passage of the Act, the Secretariat has intensified high-level policy consultations with a latest meeting with the Bank of Ghana to ensure alignment with the country’s broader macroeconomic framework.
The government and the secretariat are currently preparing the grounds to fully operationalise the flagship initiative, hence the need to engage all relevant stakeholders.
As the initiative gradually shifts from policy design to implementation, the engagements underscore the importance of regulatory coordination in turning the 24-hour economy concept into a functioning national growth strategy.
Presidential Advisor on the 24-Hour Economy Programme, Goosie Tanoh, led the discussions and emphasized that macroeconomic stability remains the foundation upon which the programme will stand.
The discussions with the leadership of the Bank of Ghana focused on critical areas that directly affect the implementation and success of the 24H+ initiative.
The Need for Macroeconomic Stability to Anchor 24H+ Policy
Central to the discussions was the need for a stable and sound macroeconomic environment to anchor initiative.
The Secretariat acknowledged recent improvements in the country’s macroeconomic indicators, such as treasury bill performance and moderating inflation, describing them as signs of strengthening economic fundamentals.
The 24H+ initiative, according to officials, is designed to translate those macro-level gains into micro-level productivity, expanding domestic production, boosting exports, and stimulating round-the-clock enterprise activity. Goosie Tannoh emphasized the need for these gains to be consolidated and sustained.
“Ghana’s immediate priority is to build a resilient economy anchored on macroeconomic stability. He commended the Bank of Ghana for providing the stability required to create platforms for growth, expansion, and increased economic activity, including higher domestic production and export output,” the statement copied to The High Street Journal notes.
The Food Security and Price Stabilisation Fund
One of the most significant proposals discussed was the establishment of a Food Security and Price Stabilisation Fund.
The proposed Fund is intended to cushion the economy against commodity price volatility and reduce food inflation. The fund is also expected to support strategic food reserves to strengthen national food security
Food inflation remains one of the most visible pressures on households. The Secretariat believes that by stabilising supply chains and moderating price swings, the Fund will complement monetary policy efforts by addressing structural supply-side challenges.
This suggests that, in essence, while the central bank manages inflation through interest rates and liquidity tools, the Fund would tackle price instability at the source, production and distribution.
The statement emphasized that, “The Fund is expected to help moderate commodity price volatility, reduce food inflation, and enhance national food security, complementing existing monetary policy measures.”
24H+ Credit Policy and Enterprise Financing Framework
Another major pillar of the engagement was financing. Funding is a major pillar of the success of the initiative.
The Secretariat proposed the development of a 24H+ credit policy and enterprise financing framework to support businesses that adopt extended-hour operations.
Key ideas explored include a coordinated appraisal of credit requests and syndicated lending among commercial banks.
There were also discussions about direct lending opportunities for viable enterprises, in addition to balance sheet support mechanisms for eligible 24-hour businesses
This could mean faster credit processing, tailored loan structures, and financing packages designed specifically for enterprises expanding into 24-hour production cycles.
Strengthening Collateral and Risk Management
To improve access to finance while safeguarding financial stability, discussions also covered the recognition of credit insurance schemes to enhance collateral frameworks
In addition, there were deliberations on the regulatory treatment of 24-hour loan portfolios and risk-sharing arrangements to reduce lending hesitation
These measures, according to the secretariat, are aimed at reducing the traditional barriers SMEs face when seeking loans, especially in sectors like agro-processing, manufacturing, and logistics.
Foreign Exchange Hedging and SME Support
Another critical area was foreign exchange risk management. Many SMEs engaged in import-dependent production or export trade suffer currency volatility, which wipes out thin profit margins.
Proposals discussed included the introduction or expansion of foreign exchange hedging instruments to support SME lending at reasonable and predictable rates.
Such instruments would allow businesses to plan production costs more effectively without being exposed to sudden exchange rate swings.
“The meeting also explored practical areas of collaboration between the Secretariat, commercial banks, and the central bank. Proposals discussed included the development of a 24H+ credit policy and enterprise financing framework, coordinated appraisal of credit requests, syndicated and direct lending opportunities, and balance sheet support for eligible 24-hour enterprises subject to due diligence,” the Secretariat noted.
It continued, “Additional areas covered recognition of credit insurance schemes to strengthen collateral frameworks, regulatory considerations for 24-hour loan portfolios, foreign exchange hedging instruments to support SME lending at reasonable rates, and digital platforms to expand access to trade and finance.”
What This Engagement Means
The meeting reflects a broader recognition that economic transformation requires policy coherence. It also acknowledges that the 24-hour economy cannot operate in isolation from monetary policy, banking regulation, credit markets, or inflation management.
By engaging the central bank early in the implementation phase, the Secretariat is signaling a coordinated approach, aligning production expansion with financial sector stability.
