KGL Group Executive Chairman Alex Apau Dadey has called for research-driven policymaking and stronger collaboration between government, the private sector and the media to help Ghanaian businesses expand into globally competitive enterprises.
He said Ghana needed deliberate policies and institutional support to enable small businesses to grow into medium-sized enterprises and large corporations capable of creating jobs, generating revenue and competing in international markets.
Mr Dadey made the call at the launch of the 30th Ghana Journalists Association (GJA) Media Awards, where KGL Group served as headline sponsor for the third consecutive year.
He said although small and medium-sized enterprises (SMEs) remained important to employment, innovation and livelihoods, Ghana also needed well-governed businesses capable of surviving their founders and sustaining growth across generations.
“We must now become equally good at building large, well-governed, professionally managed and trans-generational Ghanaian businesses,” he said.
Mr Dadey said the country’s economic progress should not be measured solely by the number of businesses established but also by their ability to expand, develop intellectual property, employ more people, pay taxes and compete internationally.
He identified strong corporate governance, succession planning, competent and independent boards, professional management, patient capital and disciplined reinvestment as critical requirements for building sustainable Ghanaian businesses.
He said addressing these factors would help companies overcome the challenges associated with founder-dependent business models and establish structures for long-term growth.
Media urged to strengthen business reporting
Mr Dadey also called for closer engagement between the media and the private sector to promote a better understanding of the contribution of Ghanaian businesses to economic development.
He, however, stressed that such collaboration should not compromise journalistic independence, saying the media must continue to scrutinise businesses, investigate wrongdoing and hold corporate leaders accountable.
At the same time, he urged journalists to give attention to legitimate businesses that invested in the economy, created employment, paid taxes, developed local capacity and expanded beyond Ghana.
“The media does not simply report an economy. The media helps shape the culture within which that economy develops,” he said.
Mr Dadey said business reporting should increasingly examine the value companies created for the country rather than focus only on ownership.
He urged journalists to investigate how businesses contributed to employment, local skills development, tax revenue, innovation and international competitiveness, while also examining their succession plans and long-term sustainability.
He said balanced and informed business reporting could help shape public understanding of the private sector and encourage a national conversation about building stronger Ghanaian-owned enterprises.
Evidence-based policies critical to business growth
On public policy, Mr Dadey urged government to make research, data and evidence central to the formulation and implementation of economic policies.
He cautioned that policies introduced to address specific challenges could produce unintended consequences for businesses, investment and employment if their potential effects were not properly assessed.
“Good intentions are not enough. Policy must be supported by data. It must be informed by evidence,” he said.
He said rigorous policy analysis was necessary to ensure that government interventions addressed their intended problems without creating additional burdens for businesses or discouraging investment.
His remarks highlighted the need for closer cooperation among policymakers, businesses and the media to create an environment in which Ghanaian enterprises could grow, remain sustainable and compete effectively in regional and global markets.
For Ghana, developing businesses capable of expanding beyond their initial scale could strengthen private sector investment, increase employment opportunities and improve the country’s capacity to build competitive domestic enterprises.
