The Government of Ghana has signed a Memorandum of Understanding (MoU) with the Arab Bank for Economic Development in Africa (BADEA) to support the country’s 24-Hour Economy and Accelerated Export Development Programme.
The agreement, which includes up to $500 million in financing, is expected to mobilise investments, modernise key sectors, expand exports, and create jobs, particularly for youth and women.
An initial $60 million tranche will be channelled through the Development Bank Ghana to support small and medium-sized enterprises (SMEs).
Mr. Goosie Tanoh, Presidential Advisor on the 24H+ Programme, said the partnership would have a direct impact on Ghanaian businesses and households.
“This MoU opens new doors for the Ghanaian entrepreneur who wants to expand production, the farmer looking to grow her farm, and the young innovator with an idea that can change our country,” he noted, adding that the agreement signaled BADEA’s confidence in Ghana’s economy.
Leading BADEA’s delegation, Mr. Abdullah Almusaibeeh, President of the Bank, commended Ghana’s vision for inclusive growth.
“With this memorandum of understanding, we are laying the foundation for a new and promising chapter in Arab-African cooperation,” he said.
The MoU covers technical assistance to strengthen capacity for programme implementation, trade finance facilities to support food security and balanced trade, and affordable financing for small businesses.
It will also promote public-private partnerships to accelerate infrastructure investment, drive productivity, and expand Ghana’s export base.
Mrs. Matilda Asante-Asiedu, Second Deputy Governor of the Bank of Ghana, said the Central Bank’s involvement demonstrated its commitment to Africa’s structural transformation.
“The Bank of Ghana will continue to ensure a stable financial environment that supports this initiative,” she assured.
Stakeholders say the partnership would unlock affordable and patient capital for SMEs and cooperatives, which are essential for sustaining Ghana’s economic diversification agenda.
By strengthening exports, creating jobs, and improving competitiveness, the Ghana–BADEA partnership is expected to provide new opportunities for entrepreneurs and position the 24-Hour Economy as a driver of long-term economic growth.
