Afreximbank, Ghana Infrastructure Investment Fund (GIIF) and Ghana’s 24-Hour Economy Authority Launch Project Preparation Partnership to Accelerate 24H+ Projects

Ghana Infrastructure Investment Fund (GIIF) and the Ghana’s 24-Hour Economy (24H) have signed a Joint Project Preparation Facility (JPPF) Framework Agreement to accelerate the preparation of priority projects under Ghana’s 24-Hour Economy and Accelerated Export Development Programme (24H+).

The Authority currently values the wider 24H+ investment pipeline at approximately US$11.5 billion. The JPPF will support selected priority projects in the pipeline, subject to joint screening and approval. Afreximbank and GIIF will pilot the intervention, with each making an initial contribution of US$5 million to finance eligible technical, financial, legal and advisory work needed to resolve bankability constraints and structure projects for financing.

The agreement was signed by Mrs Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, on behalf of Afreximbank; Mr. Nana Dwemoh Benneh, Chief Executive Officer, on behalf of GIIF; and Mr. Augustus Obuadum Tanoh, Presidential Adviser on the 24-Hour Economy and Accelerated Export Development, on behalf of 24H.

Under the tripartite arrangement, 24H will bring forward strategic projects and coordinate government stakeholders; GIIF will contribute local origination and infrastructure-investment capability; and Afreximbank will provide project-preparation and capital-mobilisation expertise. The parties will jointly screen and prioritise projects.

Ghana’s 24H+ Programme is a production-led, private-sector-driven agenda to transform the country into a competitive production hub. It is structured around eight interconnected pillars spanning agriculture, manufacturing, infrastructure, the creative industries and tourism, logistics, finance, skills and national mobilisation.

The JPPF will play a catalytic role in supporting implementation across the eight pillars of the 24H+ Economy by converting priority initiatives into well-prepared, finance-ready projects. Its focus areas include energy and infrastructure; logistics and digital connectivity; industrial parks; manufacturing and agro-processing; minerals beneficiation; tourism; the creative industries; and healthcare.

In addition to financing individual preparation assignments, the JPPF includes a structured institutional-development component for GIIF, comprising training, knowledge transfer, capacity building and staff secondments. This is intended to deepen GIIF’s in-house capacity to originate, structure and manage future project pipelines.

Commenting on the framework agreement, Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development at Afreximbank, said:

“This JPPF will play a catalytic role in translating Ghana’s 24H+ vision into projects that attract capital, expand exports and create jobs. By combining Afreximbank’s project-development and capital-mobilisation expertise, GIIF’s local investment capability and the 24-Hour Economy Authority’s coordinating mandate, we will accelerate priority projects, strengthen Ghanaian project preparation capacity and build a sustained pipeline of investment-ready transactions.”

She added that the strong demonstration effect and replication potential of the agreement could see the tripartite JPPF model become a blueprint for other African countries, encouraging similar partnerships and raising the standard of project preparation. Mrs. Awani said the partnership would address Ghana’s trade-enabling infrastructure and industrialisation gaps by combining project origination, technical advisory services and co-financing of preparation costs. This support is intended to produce investment-ready projects capable of attracting significant private capital.

Commenting on GIIF’s participation, Nana Dwemoh Benneh, Chief Executive Officer, GIIF, reiterated that:

“The partnership reinforces GIIF’s role as an infrastructure finance partner to the 24-Hour Economy and strengthens our ability to advance priority projects from concept to investment readiness. Beyond the US$10 million commitment to project preparation, a key value of the JPPF is its capacity-building component, which will provide GIIF with access to Afreximbank’s extensive project preparation expertise through training, knowledge transfer, and staff secondments. This will deepen our in-house capabilities to identify, structure, and prepare bankable projects and enhance institutional capacity and self-reliance, enabling the development of a strong pipeline of investment-ready projects capable of attracting private capital and supporting Ghana’s long-term infrastructure and economic transformation.”

Mr. Augustus Obuadum Tanoh, Presidential Adviser, 24H, added that “The 24H+ Programme is delivered through transformational projects, and a project attracts capital only when it is properly prepared. This Facility will help translate Ghana’s development priorities into well-structured, bankable projects that expand productive capacity, improve workforce productivity, increase exports and create sustainable jobs. We will bring our priority projects in energy, agro-industry, manufacturing and logistics to the Facility, and we are confident that, working with Afreximbank and GIIF, we will take them from concept to construction and deliver tangible opportunities for Ghanaians.”

By converting 24H+ priorities into investment-ready projects, the JPPF is expected to accelerate Ghana’s transformation into a competitive production and export hub and deepen its integration into the African Continental Free Trade Area (AfCFTA).