In his opening remarks, Goosie Tanoh, Advisor at the 24-Hour Economy Secretariat, emphasized the importance of collaboration between the secretariat and the banking sector. “We believe we have a package of workable solutions that you can use to drive growth profitably for entrepreneurs and for the banks, and that will also strengthen the sector amid the stringent standards of the Bank of Ghana,” he said. He noted that the transformation offered by the 24-hour economy program was based on organized citizen enterprise, the productive efforts of MSMEs (,Micro, Small, and Medium Enterprises), cooperatives, local and foreign companies.

Ishmael Adam, speaking on behalf of the Governor of the Bank of Ghana, highlighted the bank's readiness to support the 24-hour economy. “The Bank of Ghana can support the 24-hour policy by leveraging its monetary policy tools to control inflation, stimulate economic growth, and maintain price stability,” he said. He emphasized the importance of a stable and resilient banking environment, access to credit, and efficient payment systems. He noted the bank's initiatives to improve access to credit, particularly in critical areas such as agriculture and manufacturing.

The Ghana Association of Bankers expressed enthusiasm for the 24-hour economy policy and their willingness to support it. Mr John Awuah, CEO of the Ghana Association of Banks noted that the success of the program was crucial for the country's economic growth and the banking sector's success. “We are very keen to be the oil that fuels the program,” he said. He emphasized the importance of private sector-led growth and the role of banks in facilitating funding.

Kwame Adadey, Divisional Head of Retail, SME, and Digital Banking at Zenith Bank, stated that his bank was already involved with development agencies such as (Development Bank Ghana) DBG and GIFFORD (Ghana Infrastructure Investment Fund). “We've taken a look at the presentation, and we find out that we are already plugging in as a bank in various areas,” he said. He noted that the 24-hour economy policy was an economic initiative that could propel the country forward, rather than a purely political program.

Dr. Ishmael Doodoo, Director of Innovative Finance, Partnerships, and Markets at the 24-Hour Economy Secretariat, provided an overview of the 24-hour economy concept. “The 24-hour economy is about building an economy that works for everyone, every hour, every day,” he quoted former President John Mahama. He emphasized the policy's inclusivity notion and its aim to drive SME growth in Ghana. The 24-hour economy concept encompasses eight programs: Grow24, Make24, Build24, Show24, Connect24, Fund24, Aspire24, and Go24.

The secretariat also highlighted some flagship and strategic projects, including the Volta Economic Corridor which aims to transform the Volta basin into an economic corridor and promote industrialization and economic growth as well as the industrial park clusters, and agroecological parks.

The Development Bank Ghana (DBG) outlined its framework for on-lending to support the 24-hour economy initiative. The bank's wholesale on-lending model and process for businesses in partnership with banks, savings, and loans align with the initiative's eight core areas. GEXIM (Ghana Export-Import Bank) and GIRSAL also play a crucial role in supporting the initiative, with GEXIM providing guarantees as a catalyst for export finance and GIRSAL supporting the 24-hour agenda.

In his closing remarks, Goosie Tanoh emphasized the need for all stakeholders to remain focused to attract more capital and drive the success of the 24-hour economy initiative.

Kwame Adadey, Divisional Head of Retail, SME, and Digital Banking at Zenith Bank

Mr John Awuah, CEO of the Ghana Association of Banks