Mahama assures businesses of conducive environment under new NDC administration

Former President and flagbearer of the opposition National Democratic Congress (NDC), John Dramani Mahama  says a new NDC administration would work with businesses to create a conducive environment for growth and expansion, providing opportunities for Ghana’s youthful population.

He therefore appealed to businesses and investors to remain in Ghana despite the current economic challenges.

Addressing captains of industry and Chief Executive Officers at the 8^th CEO Summit in Accra, Mr Mahama urged them to “tarry a bit more” and not leave the country, emphasizing that “the darkest hour is before the dawn.”

This year’s event was themed “Reigniting Business and Economic Growth: Charting A Path Forward; Economic Diversification and Artificial Intelligence Transformation. A Private-Public Sector CEO Dialogue and High Impact Learning.”

He highlighted the need for innovation, entrepreneurship, and access to capital, research, and development.

The former President emphasized the importance of collaboration between government, the private sector, and academia to achieve economic diversification and transformation.

 He assured industry leaders that regulations would be aligned with their needs, enabling businesses to thrive in a dynamic market environment.

The former president urged CEOs to play a pivotal role in reigniting business and economic growth in Ghana by providing world-class support, upscaling their workforce, and establishing an open and transparent regulatory framework.

He envisioned an economically diversified landscape with a balanced mix of industries and markets producing high-value-added activities.

“Through collaboration, innovation, and strategic leadership, you as the corporate leaders and captains of industry will help chart a path forward towards a more prosperous, resilient, and inclusive future for all Ghanaians,” he added.

The NDC’s strategy, he explained  hinges on optimising existing regulatory frameworks, maximizing their advantages while intervening judiciously to tackle uncertainties and voids in regulation.

“Through ongoing dialogue with industry leaders, trade associations, and regulatory agencies, we will ensure that regulations are aligned with industries’ needs, enabling businesses to thrive in a dynamic and evolving market environment. We will urgently ensure that regulation does not become an obstacle to development of business. As we lead Ghana into a new era of growth and innovation, it is vital that we navigate the regulatory landscape with precision and foresight,” the former president stated.

By creating an environment conducive to business, an NDC government will aim to attract foreign investment, invigorate local entrepreneurship, and propel sustainable economic growth.

Additionally, “this centralized platform will foster collaboration between multinational corporations, small and medium enterprises, and innovative startups, augmenting Ghana’s economic competitiveness and its role as a regional trading hub. Our foreign missions will establish trade and business innovation desks to position Ghana as a business hub. They will thereby assist multinationals and local companies in achieving growth while advocating for the expansion, enhancement, and diversification of local industries. We will revive the famous Gateway Program to reposition Ghana as a gateway for African investment.”

The Former president gave the assurance that Ghanaian registered businesses will be given priority in government procurements.