Only GHS110m budgeted to facilitate to facilitate 24-hour economy — Finance Minister clarifies

The Ministry of Finance has clarified that the GH¢110 million earmarked in the 2026 budget for the 24-Hour Economy initiative is a facilitating amount and does not represent the full financing for the programme.

Isaac Fraikue, Director of Budget at the Ministry, emphasized that the allocation is intended to support initial activities while additional funding is mobilized from the private sector and development partners.

“There is no activity in the budget that is not funded. The GH¢110 million is not for the full funding of the 24-Hour Economy project; it is just a facilitating amount,” he explained.

The Ministry has reportedly engaged with key private sector stakeholders, as well as development institutions including the Development Bank of Ghana and the Ghana Infrastructure Investment Fund (GIIF), to secure further financial support.

These partnerships aim to complement government resources and accelerate the operationalisation of the 24-Hour Economy, which seeks to boost industrial activity, increase exports, and create jobs across Ghana.

Fraikue further stressed that all initiatives in the budget document have financing backing, and the focus now is on “physical discipline” in execution.

He added that Ghanaians should expect closer monitoring of implementation as the initiative rolls out.

The clarification comes in the wake of Finance Minister Dr. Cassiel Ato Forson’s presentation of the 2026 budget on Thursday, November 13, 2025, during which he announced the GH¢110 million allocation for the 24-Hour Economy programme.

The initiative, first introduced under the National Democratic Congress government’s economic transformation agenda, is designed to encourage round-the-clock commercial and industrial operations, enhance productivity, and create sustainable employment opportunities.

Economic analysts view the 24-Hour Economy as a strategic intervention to reduce unemployment and stimulate private investment.

However, they note that success will depend on coordinated support from both government and private actors, particularly in financing, infrastructure development, and regulatory facilitation.

By framing the GH¢110 million as a facilitator rather than full funding, the Ministry seeks to reassure the public and investors that the programme is financially backed while signaling the critical role of private sector and development partner collaboration in achieving the initiative’s objectives.