The government has announced plans to roll out a no-collateral credit guarantee scheme aimed at easing access to finance for credible businesses, particularly small and medium-sized enterprises (SMEs) and start-ups, as part of its flagship 24-Hour Economy programme.
The proposed scheme, to be implemented through the 24-Hour Economy Secretariat, is designed to reduce longstanding financial barriers that limit private sector growth by allowing businesses to secure credit without the requirement to pledge physical assets as collateral.
Instead, financing will be anchored on business viability, track record and credibility.
According to the Secretariat, the initiative is expected to unlock liquidity for enterprises, encourage business expansion and stimulate job creation across key sectors of the economy.
By removing the need for collateral, the scheme seeks to free up capital that businesses would otherwise lock up in assets, enabling them to invest directly in growth and productivity.
Speaking at a high-level roundtable engagement with diaspora and local investors, Head of Programmes and Strategy at the 24-Hour Economy Secretariat, Dr. Abdul Nasser Alidu, described the credit guarantee scheme as a central pillar of government’s broader investment mobilisation strategy.
He noted that the initiative is closely aligned with efforts to attract both domestic and foreign investment into emerging industrial and agro-processing hubs, particularly within the Volta Economic Corridor, which has been earmarked as a strategic zone for value-chain development.
“The no-collateral credit guarantee scheme is intended to lower entry barriers for credible enterprises and create a more inclusive financial ecosystem,” Dr. Alidu said.
“It will support the formalisation of businesses, deepen private sector participation and expand Ghana’s industrial base.”
He added that the scheme complements ongoing government plans to develop industrial parks and economic corridors under the 24-Hour Economy framework, which aims to promote continuous production, improve competitiveness and enhance export capacity.
Investors participating in the roundtable welcomed the announcement, describing the initiative as a potential game-changer for business financing in Ghana.
Many noted that limited access to affordable credit remains one of the most significant constraints facing entrepreneurs and investors, particularly in capital-intensive sectors.
They expressed optimism that a properly structured credit guarantee scheme would de-risk lending for financial institutions while empowering businesses to scale operations, create jobs and contribute more meaningfully to economic growth.
The investor engagement brought together senior government officials and policy leaders, underscoring the administration’s commitment to private sector-led development. Present at the event were the Minister for Foreign Affairs and Regional Integration, Hon. Samuel Okudzeto Ablakwa; Presidential Advisor on the 24-Hour Economy and Accelerated Export Development Programme, Mr. Goosie Tanoh; and Ghana’s Special Envoy to the Caribbean, Hon. Ekwow Spio-Garbrah.
Also in attendance were Government Special Advisor on Special Initiatives, Dr. Peter Boamah Otukunor; Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC), Mr. Samuel Maidjie; National Coordinator of the 24-Hour Economy Secretariat, Mr. Kyeretwie Opoku; and Dr. Abdul Nasser Alidu.
The no-collateral credit guarantee scheme is expected to be further detailed in the coming months as government engages financial institutions and development partners on implementation frameworks.
Analysts say its success will depend on robust risk assessment mechanisms, transparency and effective collaboration between the public and private sectors.
