Ghana’s 24-Hour Economy needs a new bank

Ghana’s ambition to build a productive 24-Hour Economy could face a major financing constraint unless the country changes how it funds agriculture and industry, with private-sector players proposing a Value Chain Industries Bank (VCIB) to provide long-term capital from raw-material production through manufacturing to the final market.

Products currently imported but capable of being produced competitively in Ghana could be identified, with financing directed across the raw-material, processing, manufacturing and distribution chain required to replace those imports.

The proposed private-sector-led development finance institution would target agriculture, manufacturing, fast-moving consumer goods (FMCGs) and export value chains, addressing what industry stakeholders see as a persistent mismatch between short-term financing and the longer investment periods required to build competitive industries.