Help establish blue-chip companies of global acclaim - Beige Capital CEO
The Chief Executive Officer of BEIGE Capital, Mr Michael Nyinaku, has stressed the need for the government to help to establish blue-chip corporations of Ghanaian ownership internationally.
That, according to him, would help Ghana to own its economy adding, “If we have to own our economy, then we need to forcefully create big corporations in a short space of time. It’s been done elsewhere so why not in Ghana”.
However, he said, such an enormous task could be achieved through an effective Public Private Partnership (PPP) backed by action and not just mere talk.
Mr Nyinaku said this when he delivered a speech on the topic: “Ghana Has Lost 20 Years of Her Entrepreneurial Evolution” at the 2015 Ghana Economic Forum held in Accra.
The two-day forum organised by the Business and Financial Times in collaboration with Joy Business was on the theme, “Ghanaian-owned economy – Setting the Agenda and Achieving It”.
It brought together business leaders and public officials to deliberate on the country’s economic challenges and the way forward.
Ghana’s current PPP
Mr Nyinaku said Ghana’s current PPP could best be described as the case of a willing government on one side, a civil sector that could not be bothered on another side and a hurriedly formed inexperienced private sector institution on the other side.
“Word has it that sometimes some of our government institutions whether intentionally or not, just stifle the initiatives of government. What stops us from being united in a manner for progress and nation building?” he asked.
Dubai example
Giving a practical example of an effective PPP, Mr Nyinaku cited the construction of the Burj Khalifa, the tallest building in the world in Dubai.
He said in an interview, the Chairman of EMAAR Properties, the firm that built the Burj Khalifa, Mr Mohammed Ali Alabbar, who recounted the events that inspired their decision to build that structure said the first concept they came up with was a fantastic project with a lot of facilities.
However, he said, after a presentation was made to the Sheikh of Dubai, the Shiekh walked out on them because their supposed fantastic project did not meet his expectations.
Mr Nyinaku said on a second thought, Mr Albabbar said during the interview that the company went back to redraft the project and came for a review where the Shiekh was impressed and remarked, “When is the crane going on site”?.
By walking out on Mohammed, Mr Nyinaku said, the Sheikh proved to him that he didn’t have time for small stuff – he wanted big ideas – that’s what I call ambition.
“By asking “when is the crane going on site?” I see a commitment to see that the project actually happens, I call that execution and action”, he added.
Take action
Mr Nyinaku, therefore, said the Ghana Economic Forum, the Akosombo Declaration, the Senchi Creed, among other such initiatives would be an academic exercise “if we would keep them on the bookshelves and not back them with action”.
“There’s a lot of action documents already, I believe that what we need are executors, doers, and development architects, who don’t fear who or what and it can only be achieved by only one crazy leader who is ambitious, authoritative and a doer”, he said.
The Chief Executive Officer of BEIGE Capital, Mr Michael Nyinaku, has stressed the need for the government to help to establish blue-chip corporations of Ghanaian ownership internationally.
That, according to him, would help Ghana to own its economy adding, “If we have to own our economy, then we need to forcefully create big corporations in a short space of time. It’s been done elsewhere so why not in Ghana”.
However, he said, such an enormous task could be achieved through an effective Public Private Partnership (PPP) backed by action and not just mere talk.
Mr Nyinaku said this when he delivered a speech on the topic: “Ghana Has Lost 20 Years of Her Entrepreneurial Evolution” at the 2015 Ghana Economic Forum held in Accra.
The two-day forum organised by the Business and Financial Times in collaboration with Joy Business was on the theme, “Ghanaian-owned economy – Setting the Agenda and Achieving It”.
It brought together business leaders and public officials to deliberate on the country’s economic challenges and the way forward.
Ghana’s current PPP
Mr Nyinaku said Ghana’s current PPP could best be described as the case of a willing government on one side, a civil sector that could not be bothered on another side and a hurriedly formed inexperienced private sector institution on the other side.
“Word has it that sometimes some of our government institutions whether intentionally or not, just stifle the initiatives of government. What stops us from being united in a manner for progress and nation building?” he asked.
Dubai example
Giving a practical example of an effective PPP, Mr Nyinaku cited the construction of the Burj Khalifa, the tallest building in the world in Dubai.
He said in an interview, the Chairman of EMAAR Properties, the firm that built the Burj Khalifa, Mr Mohammed Ali Alabbar, who recounted the events that inspired their decision to build that structure said the first concept they came up with was a fantastic project with a lot of facilities.
However, he said, after a presentation was made to the Sheikh of Dubai, the Shiekh walked out on them because their supposed fantastic project did not meet his expectations.
Mr Nyinaku said on a second thought, Mr Albabbar said during the interview that the company went back to redraft the project and came for a review where the Shiekh was impressed and remarked, “When is the crane going on site”?.
By walking out on Mohammed, Mr Nyinaku said, the Sheikh proved to him that he didn’t have time for small stuff – he wanted big ideas – that’s what I call ambition.
“By asking “when is the crane going on site?” I see a commitment to see that the project actually happens, I call that execution and action”, he added.
Take action
Mr Nyinaku, therefore, said the Ghana Economic Forum, the Akosombo Declaration, the Senchi Creed, among other such initiatives would be an academic exercise “if we would keep them on the bookshelves and not back them with action”.
“There’s a lot of action documents already, I believe that what we need are executors, doers, and development architects, who don’t fear who or what and it can only be achieved by only one crazy leader who is ambitious, authoritative and a doer”, he said.