The 24-Hour Economy Secretariat has held a high-level meeting with the Bank of Ghana to align the flagship policy with the country’s broader macroeconomic framework.
The engagement forms part of the Secretariat’s ongoing consultations with key stakeholders to share details of the 24-hour economy policy, obtain institutional feedback, and secure strategic partnerships for implementation. The central bank is among the latest institutions to be engaged as the programme transitions into its operational phase.
Presidential Advisor on the 24-Hour Economy Programme, Goosie Tanoh, expressed appreciation to the Bank for the opportunity to engage its leadership and technical teams.
He stated that 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.
According to him, the 24-hour economy initiative is intended to deepen these gains by providing a targeted micro-level response to the macroeconomic stabilization achieved.
He described recent economic indicators as notable, citing sustained treasury bill performance and a decline in inflation as evidence of a strengthening foundation for long-term growth.
A major focus of the discussions was the proposed establishment of a Food Security and Price Stabilisation Fund. The Fund is expected to help moderate commodity price volatility, reduce food inflation, and enhance national food security, complementing existing monetary policy measures.
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.
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.
It is a expected that the deliberations with the Bank of Ghana will result in key strategic regulatory policy initiatives which will enhance the financial services infrastructure under which Ghanaian companies are expected to thrive.
Source: 3news
