The Ministry of Finance and the International Finance Corporation (IFC), a member of the World Bank Group, have held a Ghana Mutual Prosperity Dialogues in Accra.
The forum is the first of a series of dialogues with astute business minds who are at the forefront of championing Ghana’s economic recovery and transformation.
The Minister for Trade and Industry, Mr Kwabena Tahiru Hammond, said the private sector has not been able to take up its space as a champion of economic development in Ghana.
He, therefore, commended the Ghana Mutual Prosperity Dialogues as driving the agenda in putting the private sector in its rightful place as change makers and leaders of national development.
“There is not a single country in this world that has transformed or developed its economy without massive transformation in its industrial base. That is why at the Ministry of Trade and Industry, we realised the absolute responsibility on us to put in place, together with the other stakeholders in the economy, the level playing field and the proper policies for the private sector to thrive,” he noted.
Mr Hammond announced that the country was on track to beat the 2023 revised growth target of 1.5% according to several assessments.
“Going forward, our objective is to recalibrate our approach so we can do more with the private sector. To deepen this effort, we are broadening the collaboration, to bring all of us the private sector, both local and foreign development partners and labour closer, to foster an intimate partnership going forward,” he noted.
He encouraged both the public and private sectors to be guided by an atmosphere of trust to craft solutions that help all parties to thrive.
On his part, the Minister for Finance, Mr Ken Ofori Atta, acknowledged the importance of dialoging and the significance of maintaining an alliance between the public and the private sectors.
He maintained that frequent engagement and conversation would achieve an economic change in Ghana.
“We expect that this will fundamentally shape and converge our efforts on what is necessary in terms of plans, policies, programmes and timelines to accelerate the time and turnaround to transform the business landscape for entrepreneurs,” he added.
The dialogues will cover the agriculture, energy, finance, hospitality, manufacturing, mining, retail, telecommunications, and other key sectors of the economy.
The forum brought together business leaders to focus on private business perspectives and bring synergy between the public and the private sector.
Joyce Adwoa Animia Ocran, ISD