About 32% of businesses would consider investing or expanding under the 24-Hour Programme, a KPMG United Nations Development Programme survey has disclosed.
Also, 44% of respondents would do so subject to suitable incentives or enabling conditions, while 14% needed more information and 10% would not participate.
The factors that would encourage businesses to participate or invest in the 24-hour economy were access to finance, reliable and affordable utilities and tax incentives.
The survey results demonstrated that business optimism remains constrained by the availability of finance, dependable utilities, market demand and the practical conditions required to invest.
Respondents expressed conditional interest in the 24H+ programme and prioritised jobs and youth employment, while the focus group study highlighted documentation, customer access and cash-flow challenges.
They therefore want government support to focus on usable finance, investable projects and implementation that produces sustained activity and employment.
Move from loan availability to usable finance
The survey revealed that interest rates, collateral and documentation remain material concerns even though some respondents reported improved borrowing conditions.
Africa requires over US$1.3 trillion annually to achieve the Sustainable Development Goals (SDGs), according to AfDB, emphasising the importance of both mobilising finance and using it effectively.
The Ghana Government has therefore been urged to set out a coordinated approach to attract additional capital through participating financial institutions and existing support networks, expanding products that match business cash flows.
Again, credit guarantees need transparent eligibility, meaningful lender risk retention, prudent exposure limits and independent monitoring.
Improve enterprise readiness and responsible access
The report also wants the government to connect training with actual lender requirements and provide practical support for applications, financial statements and business plans.
Among others, GIZ’s Invest for Jobs approach combines tailored advice, equipment support and investment readiness, illustrating the value of capability alongside capital.
Seventy-five percent of the businesses surveyed were male, while 66.1% resided in the Greater Accra region.