Despite Ghana’s macroeconomic strides including a 42.6% cedi appreciation and inflation dropping to 13.7% private-sector lending rates remain prohibitively high, jeopardizing the government’s 24-Hour Economy initiative.
C-NERGY Global Holdings issued this alert in its 2025 Mid-Year Budget analysis, noting average bank rates only eased from 30.3% to 27% since December 2024, a drop it called “insufficient” for meaningful business growth.
The policy, designed to stimulate round-the-clock production and job creation, relies heavily on private investment. Yet rates above 25% stifle SME expansion, hiring, and innovation.
“We cannot expect the private sector to drive growth with this cost of funds,” the report cautioned, urging accelerated rate cuts to catalyze enterprise development. While treasury bill rates halved and FX stability improved, these gains haven’t translated into affordable credit for businesses poised to lead the economic transition.
C-NERGY acknowledged progress but stressed that without deeper lending reforms, the 24-Hour Economy risks remaining aspirational. The government faces pressure to bridge the gap between stabilization and inclusive participation.
