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Dr. Ishmael Yamson, Chairman of the National Economic Dialogue, has urged the private sector to take an active role in reviving Ghana’s struggling economy, emphasizing that this is not the time to remain on the sidelines.
Speaking on Joy News’ PM Express Business Edition on March 6, he made a strong appeal for private businesses to contribute their expertise and resources to help steer the country toward economic stability. “Now I’ll say to the private sector, this is not the time to stand on the fence. Be part of the solution to the problem, because we know, and we believe as the private sector, that we can make a big, big difference, and we must bring our expertise to help even the public sector,” he stated.
Dr. Yamson highlighted the discipline and efficiency that characterize private enterprise, contrasting them with inefficiencies in the public sector. “Because, you see, I’m not saying discipline, but the discipline in the private sector is far more outstanding than the discipline in the public sector. There’s a lot we can share with the public sector,” he noted.
Addressing concerns from foreign investors about Ghana’s economic trajectory, he expressed optimism, stating that the country had reached its lowest economic point and could only improve. “To investors sitting outside Ghana, I will say, don’t give up, because this country cannot go any further down than it is today,” he reassured.
Dr. Yamson pointed to renewed efforts at self-reflection and policy correction, citing the commitment made at the National Economic Dialogue. “You have seen the spirit that is emerging, the awareness by ourselves of our own mistakes, and we pledge at the National Economic Dialogue that we are not going to repeat those mistakes again,” he said.
He expressed confidence that political leaders would align with the private sector in driving economic growth. “Our politicians will come along with us, and we will be development partners, partners in growth,” he stated. Urging businesses to stay and invest, he emphasized Ghana’s strategic position in Africa and its potential for economic resurgence. “So my encouragement to the private sector is stay, invest. Let’s build a better Ghana,” he said.
Dr. Yamson concluded with a call for unity and a shared commitment to resetting Ghana’s economic trajectory. “Because if we take Africa, we are so strategically located that if only we all work together, supported by a genuine effort to reset Ghana, we will all be better off.”
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