• Ghana, BADEA sign $500M deal to boost 24-Hour Economy
• First $60M to support SMEs, trade, and infrastructure projects
• Program targets 1.7M jobs, industrial growth, and exports

The government of Ghana and the Arab Bank for Economic Development in Africa (BADEA) signed a $500 million memorandum of understanding on Wednesday, September 17, 2025. The agreement is designed to support Ghana's "24-Hour Economy" program and its accelerated export development strategy.

The partnership aims to mobilize investments, modernize key economic sectors, strengthen competitiveness, and create jobs, especially for women and young people.

"This MoU opens new doors for the Ghanaian entrepreneur who wants to expand production, the farmer looking to grow her shop, and the young innovator with an idea that can change our country," said Goosie Tanoh, a presidential advisor for the program.

The agreement's first tranche will be $60 million, which will be channeled through the Development Bank of Ghana to finance small and medium-sized enterprises (SMEs). It also includes technical assistance to build the capacity for program implementation, a trade financing mechanism to support food security, and assistance for public-private partnerships to boost infrastructure investment.

Launched by President John Dramani Mahama, the 24-Hour Economy program aims to transform Ghana's economy by leveraging the potential of round-the-clock productivity to strengthen the resilience and stability of the national economic fabric.

The program is expected to create 1.7 million jobs over the next four years, with a primary objective of accelerating the country's industrial transformation.

Ingrid Haffiny (intern)