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.
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