How to apply for 24-hour economy GH₵5K to GH₵500K youth business loan

Young Ghanaians aged between 18 and 35 can now apply for start-up business financing ranging from GH₵5,000 to GH₵500,000 under the government’s 24-Hour Economy and Accelerated Export Development Programme (24H+).

The initiative forms part of a broader national strategy to promote entrepreneurship, industrial growth, job creation, and export development. Successful applicants will also benefit from digital skills training, internships, tax incentives, and access to concessionary funding.

Below is a clear step-by-step guide on how to apply.

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Step 1: Visit the Official 24H+ Portal

Applicants are required to access the official programme website via the 24H+ portal to begin the application process.

Step 2: Go to the “Contact Us" page. Section

On the homepage, navigate to the “Contact Us” tab to view available application options and programme details.

Step 3: Select the “Expression of Interest" form.

Click on the “Expression of Interest Form” to start your registration and indicate your interest in participating in the programme.

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Step 4: Choose Your Preferred Opportunity

Applicants must select the relevant category under the 24H+ programme. Options include:

• Entrepreneurship or start-up business funding

• Becoming a 24/7 Ready Business

• Agro-processing and farming initiatives

• Industrial park participation (e.g., Tamale Air Cargo Hub, Wumbei Industrial Park)

• Creative sector opportunities (National Creators’ Academy)

• Transport and logistics (Volta Lake transport system)

Step 5: Fill in Personal and Business Details

Applicants will be required to provide accurate information, including:

• Full name

• Age and contact details

• Region and location

• Educational background

• Business idea or existing business information

• Relevant skills and experience

Step 6: Submit Your Application Online

After completing the form, submit it through the portal. Applications will be reviewed by the 24H+ Secretariat, with additional opportunities expected in future phases of the programme.

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Benefits of the 24H+ Youth Loan Programme

Selected applicants may access:

• Business loans ranging from GH₵5,000 to GH₵500,000

• Free digital skills training across TVET centres nationwide

• Internships with partner organisations

• Concessionary financing via Development Bank Ghana

• Equity funding support through venture capital schemes

Additional Government Incentives for Businesses

The programme also includes broader incentives such as the following:

• Reduced corporate income tax for shift-based operations

• Priority access to utilities like electricity and water

• Import tax exemptions on key machinery and raw materials

• VAT relief for selected sectors

• Export performance rebates

• Tax-free periods for new businesses in manufacturing, ICT, agro-processing and tourism

Government’s Objective for the Programme

According to President John Dramani Mahama, the 24H+ initiative is designed as a “holistic, integrated multisectoral programme” aimed at removing barriers to production, expanding industrial capacity, and creating sustainable jobs for young people across Ghana.