China pledges support for Ghana’s 24-hour economy drive
Ghana’s flagship 24-hour economy programme has received a major boost as Chinese private sector investors expressed strong interest in backing the initiative during a high-level business forum held in Accra.
The forum, co-organized by the Chinese Embassy and the 24-Hour Economy and Accelerated Export Development Secretariat, brought together senior government officials and more than 50 Chinese business leaders.
Discussions focused on forging strategic partnerships to industrialize the Ghanaian economy, enhance exports, and create sustainable jobs.
Presidential Adviser on the 24-Hour Economy, Mr. Goosie Tanoh, emphasized the Programme’s mission-driven structure.
“We are building a portfolio of coordinated projects that will bring the Programme to life and deliver real value for Ghana. We have completed concept notes for our first 20 priority projects and are now commencing feasibility studies to make each one bankable and investment-ready,” he said.
Mr. Tanoh outlined a broad pipeline of projects in agriculture, manufacturing, logistics, health, and the creative economy, all positioned for private sector collaboration, especially with Chinese partners.
He also noted that the government is finalizing a comprehensive incentive framework to streamline investor processes and ensure transparency.
“The China–Ghana relationship is longstanding and multifaceted,” Mr. Tanoh stressed, recalling the historic ties between both countries dating back to Ghana’s independence era.
China’s Ambassador to Ghana, H.E. Tong Defa, reaffirmed his country’s strong diplomatic and economic relationship with Ghana, describing the 24-Hour Economy as well-aligned with China’s development cooperation strategy in Africa.
China remains Ghana’s largest trading partner and a major source of foreign investment. In 2024, bilateral trade reached 11.8 billion US dollars, a 7.1 percent increase from the previous year. From January to May 2025 alone, trade has grown by 8.9 percent year-on-year, reaching 5.28 billion US dollars,” the Chinese ambassador noted.
He revealed that China’s direct investment in Ghana in 2024 totaled USD62.15 million, covering agriculture, manufacturing, and infrastructure. He pledged continued support for the 24-Hour Economy Programme, particularly in logistics, energy, and agro-industrial development.
Other key Ghanaian institutions involved in implementing the Programme also delivered remarks. Chief Executive Officer of the Millennium Development Authority (MiDA), Mr. Alexander Kofi-Mensah Mould, assured investors of a transparent procurement process, noting that MiDA would oversee project scoping and delivery.
Highlighted investment opportunities included agro-ecological parks, feeder roads, and inland transport systems along the Volta Lake.
Senior representatives from the Ghana Investment Promotion Centre (GIPC), Ghana EXIM Bank, Development Bank Ghana, and the Ghana Infrastructure Investment Fund shared their roles in financing and implementing priority projects under the Programme.
The engagement ended on an optimistic note, with Chinese investors praising the structured, data-driven approach of the 24H+ Programme.
Both sides reaffirmed their commitment to deeper economic cooperation, positioning China as a strategic partner in Ghana’s industrial transformation.
