Existing banking model could draw a dagger through Ghana’s 24-Hour Economy

BoG must facilitate productive-sector financing — or enable a specialized value-chain industrial bank Ghanaian banks are lending again, but where the money goes could determine whether the 24-Hour Economy delivers an industrial transformation or merely fuels another cycle of consumption and imports.

Yet the structure of lending shows that the productive sectors expected to drive the 24-Hour Economy continue to receive relatively small shares of private-sector credit.

The challenge now is to ensure that the rapid expansion in private-sector credit translates into productive investment rather than simply higher consumption and short-term commercial activity.