Arab Bank For Economic Development In Africa And Ghana Government Seal Deal To Boost 24-Hour Economy

The government of Ghana, under the helm of the 24-Hour Economy Secretariat, has inked a Memorandum of Understanding (MoU) with the Arab Bank for Economic Development in Africa (BADEA) to drive forward Ghana’s economic overhaul ambitions.
The signing ceremony, which took place at the prestigious Bank of Ghana in Accra, cements a strategic partnership aimed at funding and fast-tracking key facets of the government’s 24-Hour Economy & Accelerated Export Development Programme (24H+).
During the event, Presidential Advisor overseeing the 24H+ Programme, Mr. Goosie Tanoh, emphasized the monumental benefit of this collaboration for Ghanaian businesses and households, stating, “This MoU paves the way for aspiring Ghanaian entrepreneurs, ambitious farmers, and innovative youth to thrive and contribute to our nation’s growth.”
Tanoh expressed gratitude to BADEA for their belief in Ghana’s economic prospects and its citizens.
BADEA’s President, H.E. Abdullah Almusaibeeh, who helmed the bank’s delegation, lauded Ghana’s vision for inclusive progress. “Through this agreement, we are setting the stage for a promising era of Arab-African partnership,” he remarked.

He outlined the agreement’s comprehensive offerings, including:
– Technical support to bolster program implementation capabilities.
– A financial facility to bolster Ghana’s food security blueprint and promote balanced trade.
– Accessible funding for small enterprises to scale up operations and foster job creation.
– Backing for Public-Private Partnerships (PPPs) to expedite infrastructure investments.
Mrs. Matilda Asante-Asiedu, the Second Deputy Governor of the Bank of Ghana, hailed the collaboration and emphasized the central bank’s vital role in sustaining a conducive financial climate for the initiative. “This accord signifies more than mere words; it showcases our joint dedication to Africa’s structural evolution,” she asserted.
The pact with BADEA represents a crucial stride in generating investment to revamp vital sectors of the economy, heighten competitiveness, boost exports, and cultivate quality employment opportunities, particularly for Ghana’s youth and women.

About BADEA:
The Arab Bank for Economic Development in Africa (BADEA) is a financial institution owned by Arab member states of the Organization of Arab Petroleum Exporting Countries (OAPEC). BADEA is dedicated to fostering Africa’s economic progress and fostering economic collaboration between Arab and African nations.