Ofosu-Dorte urges govt to empower SOEs to be competitive

Story: Abdulai SAAKA, Accra

David Ofosu-Dorte, founder and senior partner at AB & David Law Firm, has called on the Ghanaian government to allow state-owned enterprises (SOEs) to operate independently to ensure their long-term viability and competitiveness.

 Speaking at the inaugural Ghana CEO Presidential Manifesto Dinner and Gala, a landmark event bringing together top executives and presidential candidates, Ofosu-Dorte emphasized the importance of SOEs being managed as competitive businesses rather than political entities.

“Business is business and must not be treated as politics,” Ofosu-Dorte asserted, advocating for SOEs to function autonomously and embrace transparent practices to help curb corruption. He noted that while he believes the government has a role within the business sector, it must approach this role with a true business mindset. Transparency, he argued, is crucial to creating an environment of accountability and trust within SOEs, potentially making them more sustainable and impactful.

Strengthening Public-Private Sector Collaboration

In his address, Ofosu-Dorte underscored the importance of strengthening ties between regulators, politicians, and businesses, encouraging more open dialogue to address the challenges facing Ghana’s business landscape. Highlighting the presence of Vice President Dr. Mahamudu Bawumia at the gala as a positive signal, he suggested that it could represent the beginning of a more cohesive approach to business governance. “The challenges we face are challenges we can overcome if we work together,” he remarked, voicing optimism about collaborative efforts to resolve key issues affecting the business environment.

Challenges within the Private Sector

Ofosu-Dorte also turned a critical eye toward the private sector, pointing out a lack of unity when it comes to advocating for broader business interests. He noted that while Ghanaians are known for their strong sense of community in social settings, such as weddings and funerals, this spirit often fades in business. “When it comes to advocating for businesses, as soon as one business gains an advantage, it shuts up and allows the rest to suffer,” he observed, calling on the private sector to embrace a more collective approach for the benefit of all enterprises.

A Vision for Sustainable Economic Growth By promoting SOEs as competitive and transparent entities, Ofosu-Dorte’s recommendations resonate with a broader vision for a sustainable economic future in Ghana. He urged leaders to maintain the momentum from the gala’s discussions and push for policies that will allow SOEs and private businesses alike to thrive independently and collectively.