The Executive Chairman of KGL Group, 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.
Framed within the broader discourse of development economics and corporate governance, Mr Dadey argues that governments, although acting as enablers of policy and regulation, do not in themselves generate wealth.
Rather, it is the private sector, through innovation, capital deployment and operational efficiency that drives true national prosperity.
The prominent Ghanaian entrepreneur and philanthropist said yet, in much of Africa, that truth remained underappreciated, with private enterprises often treated as peripheral actors in national development strategies rather than as indispensable partners in shaping them.
The executive chairman of KGL was speaking at the 37th annual University of Ghana Alumni lecture in Accra last Thursday.
It was organised by the University of Ghana Alumni Association in collaboration with the University of Ghana. It was on the topic: "Public-Private partnership (PPPs): A case study of responsible corporate citizenship.
Aside from lecturers and the university community, the lecture attracted personalities, including the Clerk to Parliament, Ebenezer Ahumah Djietror, the Deputy Attorney-General and Minister of Justice, Dr Justice Srem-Sai, indudtrialist and former Chairman of the university’s Governing Council, Tony Oteng-Gyasi, a former Senior Minister and Presidential Adviser, Yaw Osafo-Maafo, Member of Parliament for Akwapim North, Sammi Awuku, and a cross-section of the university’s alumni.
Renewed spirit
Mr Dadey urged the government, policymakers and industry leaders to embrace a renewed spirit of collaboration, anchored on trust, shared value and national ownership.
“Governments do not create wealth – the private sector does.
The government may set the rules of the game, but it is the private sector that plays it, with innovation, capital and resilience,” he stated.
“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,” the executive chairman of KGL stated.
Tracing Ghana’s economic history, Mr Dadey cited the collapse of once-thriving enterprises such as Siaw Industries, the Ghana National Trading Corporation (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 such as Tata Motors and Shoprite, private and family businesses which flourished through deliberate state support and policy alignment.
PPPs
He underscored that the solution lay in Public-Private Partnerships (PPPs) underpinned by responsible corporate citizenship, where business success translates into shared social and economic value.
In a stimulating and thought-provoking presentation, the businessman, who completed the university some 37 years ago, emphasised that responsible businesses must aspire to become transgenerational — built on integrity, honesty and trust, capable of outliving their founders and future generations.
However, he said, the history of PPPs on the continent had been marred mainly by mistrust, political vulnerability and short-term transactionalism.
Mr Dadey stressed that effective PPPs could 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 would not come from aid, but from ownership — of resources, industries and ideas driven by Ghanaians for Ghanaians.
Mr Dadey said when the country attained political independence in 1957, its founder fathers declared that Ghana was capable of managing its own affairs.
Nearly seven decades later, he added, that vision must evolve into something deeper in which “the Ghanaian is capable of owning, growing and transforming his own economy."
He identified policy alignment as the most critical determinant of PPP success.
"Only when private profit intersects meaningfully with public revenue goals and national development objectives can such a partnership yield sustainable outcomes rather than competing interests," he told the gathering, including the Speaker of Parliament, Alban Kingsford Sumana Bagbin.
He called for the deliberate cultivation of indigenous Ghanaian business champions and enterprises capable of mastering local markets and building anti-fragile business models tailored to Africa's unique socio-economic realities.
Suggestions
He suggested that to unlock the full potential of PPP, the government's role must be both strategic and enabling.
"First and foremost, the government must identify and prioritise key growth sectors - be it infrastructure, agriculture, energy, education or digital technology - where private sector expertise and innovation can deliver measurable development outcomes.
"This prioritisation must be accompanied by targeted policy incentives that reduce the cost and risk of doing business," Mr Dadey said in his two-hour lecture.
According to him, the government's first and most vital role in PPPs was to provide clarity of vision and policy.
He said the private sector needed to know where the country was headed, what the priorities were and what role it could play.
Mr Dadey, therefore, urged the country to mobilise Ghanaian capital, especially pension funds, savings and most importantly, diaspora remittances.
"These are Ghanaian resources that must be invested in Ghanaian enterprises.
We must build responsible platforms that channel Ghanaian wealth into Ghanaian hands.
"We must nurture a mindset of ownership and excellence among our youth.
Ghana’s future belongs to young people who believe that they can build, own and lead world-class enterprises from right here in Ghana," Mr Dadey stressed.
Ghanaian diaspora
Mr Dadey also spotlighted the critical role of the Ghanaian diaspora, saying no country had 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), in which global Ghanaians invest their capital, knowledge and expertise in the nation’s development.
Mr Dadey also called on all sectors — public, private and the diaspora — to join hands in redefining Ghana’s development narrative.
“The government cannot do it alone. Businesses cannot do it alone. Academia cannot do it alone. Communities cannot do it alone. However, together – when we bring our ideas, our resources, our knowledge and our will – we can ignite transformation that will echo for generations. The time for convenience is past. This is the hour for conviction and partnership”.
ESG principles
Beyond developmental economics, Mr Dadey reinforced the importance of Environmental, Social and Governance (ESG) principles in shaping responsible businesses and national sustainability.
He 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 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, as well as the sponsorship of the Black Stars for four consecutive years.
Furthermore, through its mental health advocacy and intervention programmes, the KGL Foundation has partnered health institutions and NGOs to extend support to the vulnerable and break the stigma surrounding mental illness.
The Vice Chancellor of the University of Ghana, Prof. Nana Aba Appiah Amfo, called on governments to break the cycle of replacing institution heads with each change of government.
She said it did not enhance long-term planning and sustainable development.
Rather, Prof. Amfo suggested that government appointees should be selected through competitive processes with fixed tenures to give them the confidence to offer their best.
