Don’t Politicize Private Sector
– Prof Dodoo urges nation’s political actors
Story: Abdulai SAAKA, Accra
DIRECTOR-GENERAL of the Ghana Standards Authority (GSA), Prof. Alex Dodoo, has urged political actors to avoid interfering unnecessarily in the operations of the private sector, stressing that such actions hinder its capacity to drive economic growth and development.
Speaking at the 13th Annual Association of Ghana Industries (AGI) Industry Quality Awards, Prof Dodoo cautioned against politicizing the private sector, underscoring its non-partisan nature.
According to the GSA boss, the private sector operates to provide essential goods and services, generate profit, and contribute to national revenue through taxes, irrespective of the political party in power.
“The private sector is a friend and not an enemy, a fact often missed by some state actors,” he noted.
Prof underscored the importance of empowering Ghana’s private sector to drive economic growth and called for the removal of barriers stifling industrial growth and innovation.
“The private sector is a solution to all our problems,” he declared. According to him, for industries to thrive, they must be “unfettered, unleashed, and freed” to fulfill their role as drivers of economic activity.”
Prof. Dodoo emphasized the pivotal role of the private sector as the “engine of economic growth,” highlighting its critical contributions to job creation, economic resilience, and overall national progress, despite facing global and local challenges.
Acknowledging the challenging business environment shaped by factors such as the Russia-Ukraine conflict and global economic volatility, Prof. Dodoo commended the resilience of Ghanaian businesses.
He acknowledged that while some companies are thriving, others are struggling to survive or merely managing to meet their tax obligations.
In his address, Prof. Dodoo pointed to opportunities available to the private sector, such as the African Continental Free Trade Area (AfCFTA) and the Environmental, Social, and Governance (ESG) framework.
He called on businesses to seize these opportunities and adapt to the evolving global landscape, which he described as volatile, complex, and ambiguous.
The GSA Director General’s remarks serve as a reminder to political actors to create an enabling environment for businesses to thrive without undue interference, recognizing the private sector’s indispensable role in Ghana’s socio-economic development.
AGI President Dr. Humphrey Ayim-Darke reiterated calls for tax reforms to alleviate the difficulties associated with doing business in Ghana. The association has frequently expressed concerns about the rigidity of Ghana’s tax regime, emphasizing the significant challenges industries face in meeting their tax obligations. Dr Ayim-Darke noted that the association remains hopeful that the incoming administration in 2025 will prioritize and implement tax reforms to reduce the financial burden on businesses and promote industrial growth.
