Bawumia pledges to revitalise Ghana’s economy through stronger private sector partnerships

Mahamudu Bawumia, the presidential candidate for the New Patriotic Party (NPP), has announced his commitment to intensifying partnerships with the private sector if elected as Ghana’s president in December. 

Speaking at the inaugural Ghana CEO-Presidential Gala Dinner 2024 on Thursday (7 November), themed “Reigniting the Business Economy and Social Contract for Growth: A Business Manifesto for Political Accountability and Sustainable Development,” Bawumia underscored the private sector’s pivotal role in driving Ghana’s economic recovery and long-term growth.

“Government cannot drive economic growth in isolation; it must be in close collaboration with the private sector,” Bawumia stated, emphasising his administration’s intent to create a business-friendly environment that supports innovation, accountability, and resilience. 

His remarks resonated with the event’s theme, which called for renewed collaboration between Ghana’s business community and political leaders to foster sustainable development and align business objectives with national growth.

Hosted by the Chief Executives Network Ghana, the gala brought together leaders from both business and political spheres to lay the groundwork for an enhanced social contract. 

The gathering marked a historic effort to connect the aspirations of the private sector with the accountability commitments of political leaders, focusing on economic strategies for inclusive growth.

Ernest De-Graft Egyir, CEO of the Chief Executives Network Ghana, welcomed the esteemed guests, describing the event as “a platform for transformative change.” 

Egyir called for a unified vision for Ghana’s future, stressing the need for transparency, ethical practices, and strategies that ensure growth across all sectors. 

“Tonight, we aim to forge a social contract rooted in trust, transparency, and a shared commitment to building an environment where businesses thrive and governance is accountable,” he said.

One of the highlights of the evening was the signing of a symbolic social contract by both Bawumia and former President John Dramani Mahama, the National Democratic Congress (NDC) flagbearer. 

By signing the contract, both leaders pledged to uphold values that promote economic stability and business growth, underscoring a commitment to inclusive development.

In his address titled “Reigniting the Business Economy: A Manifesto for Innovation, Accountability, and Sustainable Development,” Bawumia shared his vision for economic resilience, digital transformation, and infrastructural growth. 

He outlined strategic steps to revitalise the business landscape, citing digital transformation as a critical driver of economic empowerment and improved accountability.

“Every policy and program we pursue must be directed at enabling businesses to succeed,” Bawumia asserted, reiterating his commitment to consult regularly with CEOs and industry leaders. 

“We will establish a permanent advisory framework that ensures the voice of the business community shapes policymaking.”

Bawumia also highlighted his administration’s intent to tackle illegal mining, or “galamsey,” which has had severe environmental and economic repercussions. 

He advocated for a national pact to end galamsey, calling for comprehensive action to protect Ghana’s natural resources.

Daniel McKorley, CEO of McDan Group, echoed the call for a cohesive national agenda over party-based manifestos. 

“Our nation’s progress hinges on one vision, not separate party manifestos,” he emphasised, urging political leaders to adopt a long-term national agenda. 

He pointed to successful models in other countries where a unified policy framework has facilitated collaboration between government and the private sector.

“A well-defined national agenda would allow businesses and government to work together more effectively, creating the conditions for Ghana to develop world-class industries,” McKorley added, encouraging stakeholders to align toward a common goal for sustainable growth.

The evening’s discussions emphasised the need for a coherent national development policy that aligns with Ghana’s economic and social objectives, ensuring continuity across electoral cycles. 

Speakers highlighted the importance of moving beyond partisan promises to establish a framework that serves Ghana’s long-term interests.

“Political transitions should not hinder national progress,” said Egyir. “We must insist on policies that drive development regardless of the government in power, building a resilient Ghana for future generations.”

The gala concluded with a collective call to action: to prioritise policies that foster economic growth, sustainability, and transparency. 

As Ghana prepares for the upcoming elections, the CEO-Presidential Gala Dinner has set a hopeful precedent for business and political collaboration—inspiring optimism for a future where governance and business work hand-in-hand to uplift the nation.

Reporting by Philip Abutiate in Accra

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