Audio By Carbonatix
Ghana’s ambitious 24-hour economy policy, estimated at $4 billion, faces a severe funding crisis, with only 11.2% ($448 million) of the required amount currently secured through government allocation ($300 million) and the District Assemblies Common Fund ($148 million).
The remaining 88.8% ($3.552 billion) hinges on uncertain public-private partnerships (PPPs), a risky gamble given Ghana’s mixed track record with such ventures and private sector reluctance due to high operational costs.
Ghana's SkyTrain Project, a proposed $2.6 billion automated urban rail system in Accra, has stalled indefinitely after being launched with much fanfare under a Public-Private Partnership (PPP) model. Even the confirmed funding falls short, as the government’s meager 7% contribution pales in comparison to major infrastructure projects, while diverting DACF funds risks starving other critical local development initiatives.
Worse, hidden costs, including an additional $1 billion for energy, security, and labor incentives, could push the true cost to $5 billion, leaving the current commitments covering a mere 9%. Without a substantial increase in direct government funding, international support, and targeted incentives, the policy risks joining the list of underfunded, unimplemented promises, leaving Ghana’s 24-hour economy dream stranded in financial uncertainty.
Latest Stories
-
India express train kills seven elephants crossing tracks
6 minutes -
TTU’s number-one ranking due to research commitment – Vice-Chancellor
7 minutes -
US pursuing third oil tanker linked to Venezuela, official says
16 minutes -
At least 13 photos removed from justice department Epstein files website
26 minutes -
Margins sets example in Urban Renewal and Climate Resilience
29 minutes -
Rights groups condemn new record number of executions in Saudi Arabia
36 minutes -
Another 130 abducted schoolchildren released in Nigeria
45 minutes -
Ken Ofori-Atta and Ghana’s Loudest Trial Before Evidence
52 minutes -
What if plastics could feed people, not pollute them?
55 minutes -
Malaysia court dismisses ex-PM’s bid to serve sentence under house arrest
55 minutes -
NPP’s Irene Naa Torshie rallies Volta Region delegates behind Kennedy Agyapong
1 hour -
South Korea parliament passes bill to launch probe into 2024 Jeju Air crash
1 hour -
Vote for me on the basis of my competence, track record, integrity and vision – Bawumia appeals to NPP delegates
1 hour -
I never take anything for granted; I believe in working hard for Success – Bawumia on engaging delegates nationwide
1 hour -
Alex Iwobi says Afcon is a special football tournament
1 hour
