Asantehene Calls for Private Sector Focus to Boost Ghana’s Economy

Asantehene Otumfuo Osei Tutu II, has urged the government to prioritize policies that encourage private sector involvement in key industries.

The Asantehene made these remarks during the commissioning of a new natural gas pipeline project by private company Genser Energy. He highlighted the project’s potential to strengthen Ghana’s power sector and called for a broader shift in government strategy.

Key Points of the Asantehene’s Message

• Government Focus on Job Creation and Investment: The Asantehene urged the government to prioritize policies that foster industrial growth, leading to job creation and increased investment.
• Private Sector Partnership: He advocated for increased private sector involvement in public enterprises like the Volta River Authority (VRA) and the Ghana Grid Company (GRIDCo). This partnership, he believes, would attract more investment and improve efficiency.
• Diversification and Efficiency: The Asantehene suggested diversifying these public entities by involving the private sector. This, he argues, would allow for essential financial investments and attract qualified personnel.

Letting Go and Facing Reality

The Asantehene emphasized the need for a pragmatic approach. He questioned the government’s continued control of enterprises it struggles to maintain financially. He urged the government to “face reality” and delegate control to the private sector, which has a proven track record of attracting investment, as demonstrated by the Genser Energy project.

A Call to Action

The Asantehene’s message is a clear call for the government to redefine its role in the economy. He emphasizes collaboration with the private sector as a key driver of job creation, investment, and overall economic growth.