The Executive Chairman of the KGL Group, Mr Alex Apau Dadey, has called for a national shift in perception and policy to position Ghana’s private sector as a strategic partner in nation-building rather than a competitor to government.
He urged government, policymakers, and industry leaders to embrace a renewed spirit of collaboration anchored on trust, shared value, and national ownership, emphasising that “Governments do not create wealth – the private sector does.”
Delivering the 2025 University of Ghana Alumni Lecture at the Great Hall on “Public-Private Partnership – A Case Study of Responsible Corporate Citizenship,” Mr Dadey noted that while the government may set the rules of the game, it is the private sector that plays it — with innovation, capital, and resilience.
“The time has come for Ghana to move beyond seeing the private sector as a rival, and instead recognise it as a vital ally in national development,” he said.
Tracing Ghana’s economic history, Mr Dadey cited the collapse of once-thriving enterprises such as Siaw Industries, GNTC, and Neoplan Ghana as reminders of the country’s failure to protect and grow its indigenous businesses. He contrasted these with successful global examples like Tata Motors and Shoprite, which flourished through deliberate state support and policy alignment.
He underscored that the solution lies in Public-Private Partnerships (PPPs) underpinned by Responsible Corporate Citizenship, where business success translates into shared social and economic value.
Mr Dadey emphasised that responsible businesses must aspire to become transgenerational — built on integrity, honesty, and trust, capable of outliving their founders and benefiting future generations. He added that effective PPPs can bridge Ghana’s innovation and infrastructure gaps when built on clarity of vision, fair risk-sharing, and good governance.
“You see, in every thriving economy, there comes a point where the government can no longer do it alone. The private sector must not only be involved — it must lead. But it cannot do so in isolation,” he emphasised.
Calling for a renewed national mindset, the Executive Chairman asserted that Ghana’s economic independence will not come from aid but from ownership — ownership of resources, industries, and ideas driven by Ghanaians for Ghanaians.
He also highlighted the critical role of the Ghanaian diaspora, stating that no country has developed or sustained progress without the engagement and commitment of its most valuable human resource — its diaspora. He therefore advocated a shift from Foreign Direct Investment (FDI) to Diaspora Direct Investment (DDI), where global Ghanaians invest their capital, knowledge, and expertise back into national development.
On the importance of Environmental, Social, and Governance (ESG) principles in shaping responsible businesses and ensuring sustainability, Mr Dadey cited the KGL Foundation’s targeted initiatives in youth empowerment, education, health, arts and culture, and sports as practical demonstrations of responsible corporate citizenship.
The Foundation has touched thousands of lives, awarding over 300 scholarships to brilliant but needy students at all levels. In sports development, the KGL Foundation has been instrumental in the revival and sponsorship of Ghana’s U-17 Colts Football Programme and has supported the Black Stars for four consecutive years.
— BY TIMES REPORTER
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