Ghana's Asantehene, Otumfuo Osei Tutu II, has urged the government to declare the next 10 years a 'decade of business development'. He emphasized a national shift from political slogans to concrete production and value creation. This call aims to build a resilient economy after nearly 70 years of independence.
The monarch made this declaration during his address at the Ghana Business Leaders’ Conclave. He challenged both the state and the private sector to treat economic growth with urgent national security priority. Political leadership must create enabling policy frameworks and macroeconomic stability. Citizens and entrepreneurs must innovate, build enterprises, and generate employment.
This initiative aligns with Ghana's ongoing efforts to diversify its economy and reduce reliance on raw material exports. The nation faces persistent challenges in job creation and industrialization despite past development programs. Focusing intensely on business could boost local value addition and improve living standards for many Ghanaians.
Otumfuo Osei Tutu II, addressing the University of Professional Studies, Accra (UPSA) event, delivered an uncompromising economic manifesto. He stated, “After almost 70 years, the lesson is clear: we have had enough of talks, Ghana must now become a nation of builders.” The Asantehene stressed that allegiance to the state must now override partisan loyalty for the nation to escape decades of underperformance.
The declaration implies a renewed focus on private sector growth and investment. Policy makers will need to craft incentives and regulatory environments that support this vision. Businesses and financial institutions may see new opportunities for expansion and collaboration. This could impact GDP growth, job creation, and overall economic stability.
The Asantehene stressed that there is no truer measure of a nation’s development than the state of its economy. He linked this to the ability to provide essential services like food, education, and healthcare. Otumfuo warned that the erosion of trust and confidence reaches from politics into banking, boardrooms, classrooms, and homes. He prescribed values such as honesty, trust, fairness, respect, responsibility, and courage as non-negotiable for business leaders.
The event, organized by UPSA, was in partnership with GCB Bank PLC. Professor Joshua Alabi, Board Chairman of GCB Bank, commended the Asantehene’s commitment to youth development. GCB Bank, with 184 branches, actively supports Small and Medium-sized Enterprises (SMEs) and public institutions. The bank does this through its digital transformation agenda, contributing to national economic growth.
Looking ahead, stakeholders will monitor how the government and private sector respond to this call. Creating such an enabling environment requires significant policy reforms and sustained investment. Success will depend on collaboration between political leaders, entrepreneurs, and financial institutions. The next decade could redefine Ghana's economic landscape if this vision is fully embraced.