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
-
2026 World Cup: Cape Verde hold Spain to goalless draw in opener
10 minutes -
Only 47% of ‘Big Push’ projects awarded through sole-sourcing — Gov’t
14 minutes -
2026 World Cup: Tunisia sack Sabri Lamouchi after opening match defeat to Sweden
17 minutes -
CSOs petition NTC over alleged teacher–student altercation at Nyinahin SHS
19 minutes -
Photos: President and political appointees present GHs6.1m to MahamaCares Fund
19 minutes -
Children engaged in hazardous illegal mining and farming practices drive dropouts in schools in Tano North
19 minutes -
Court strikes out application to dismiss East Legon property case
43 minutes -
Dozens walk out as Google boss Pichai addresses Stanford graduates
45 minutes -
NPP Constituency Chairman petitions regional executives over alleged election irregularities in Afigya Sekyere East
1 hour -
Flood prevention requires collective action, not seasonal reactions
1 hour -
China detains two leaders of influential underground church
1 hour -
African brands gain modestly in consumer admiration, but global giants still dominate
1 hour -
Ghana has only two functional MRI machines in public hospitals – MahamaCares Assessment
2 hours -
IMF chief says no global slowdown in sight yet, but risks high
2 hours -
Advancing Ghana’s position in Global Business Services at the Executive Roundtable in London
2 hours