Business News Desk
The government of Ghana through the 24-Hour Economy Secretariat has signed a Memorandum of Understanding (MoU) with the Arab Bank for Economic Development in Africa (BADEA) to advance Ghana’s economic transformation agenda.
The signing ceremony, held at the Bank of Ghana in Accra, establishes a framework for collaboration to finance and accelerate key pillars of the government’s 24-Hour Economy & Accelerated Export Development Programme (24H+).
In his remarks, Presidential Advisor on the 24H+ Programme, Mr. Goosie Tanoh, underscored the direct impact of the partnership on Ghanaian businesses and households.
MoU with Arab Bank Boosts Ghana’s 24-Hour Economy Drive
“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,” he said.
Mr. Tanoh expressed appreciation to BADEA for its confidence in Ghana’s economy and its people.
The President of BADEA, H.E. Abdullah Almusaibeeh, who led the bank’s delegation, 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.
MoU with Arab Bank Boosts Ghana’s 24-Hour Economy Drive
He outlined the scope of the collaboration, which will provide:
Technical assistance to strengthen capacity for programme implementation.
A trade finance facility to support Ghana’s food security strategy and balanced trade.
Affordable financing for small businesses, enabling Ghanaian enterprises to expand and create jobs.
Support for Public-Private Partnerships (PPPs) to accelerate investment in infrastructure.
The Second Deputy Governor of the Bank of Ghana, Mrs. Matilda Asante-Asiedu, welcomed the partnership and underscored the central bank’s role.
“This signing is more than symbolic; it demonstrates our shared commitment to Africa’s structural transformation,” she said.
MoU with Arab Bank Boosts Ghana’s 24-Hour Economy Drive
“The Bank of Ghana will continue to ensure a stable financial environment that supports this initiative.”
The partnership with BADEA represents a critical step in mobilizing investment to modernize key sectors of the economy, enhance competitiveness, expand exports, and create decent jobs, especially 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).
Its mandate is to contribute to Africa’s economic development and strengthen economic cooperation between Arab and African nations.
Source: www.thenewindependentonline.com
