The Executive Chairman of KGL Group, Alex Apau Dadey, has insisted that governments need to stop merely paying lip service to the idea of the private sector as the engine of economic growth.

In an interview, he highlighted that successful nations are built on the foundations laid by entrepreneurs and business leaders rather than politicians.

Mr Dadey stressed the importance of government action, urging officials to create the necessary structures and systems that would effectively support and empower the private sector.

“My philosophy is that great countries are built not by politicians but by great entrepreneurs. Once we shift our mindset to that, we will encourage others.

“I hear governments all over the place talk about raising millionaires, raising billionaires but sometimes we misunderstand this concept of raising these millionaires and billionaires.

"We raise them for society, we raise them to create employment. Yes, they might take a chunk of it but would you rather have government take a chunk of your money and provide you with nothing or the private sector takes the lead?

“A recent example is Dangote in Nigeria. Yes, sometimes you get a little political backing but it does not matter because that is what the government is supposed to do.

“Government is supposed to back the private sector, be it in our country NPP or NDC… It does not matter. That is the role of government.”

The 2023 EMY Man of the Year, Alex Apau Dadey, has dismissed the notion that Ghanaian businessmen and entrepreneurs should be categorized as supporters of either the ruling New Patriotic Party (NPP) or the opposition National Democratic Congress (NDC).

He believes that all businesspeople are willing to collaborate with any government in power to foster economic growth.

Mr Dadey emphasized that the hard work and dedication of entrepreneurs to build their businesses should not be overshadowed by political affiliations.

“We get it all wrong when we create our own narrative of an NPP businessman or an NDC businessman, there is no NPP or NDC businessman. There are businessmen. They work.

“But because of the way we have structured our systems, they have to work with every government in power.

“Sometimes you hear people saying this businessman was with this party and later moved to that party but businessmen don’t think like that. They do what is necessary.

“So, we have to encourage the private sector not as a lip service and say that the private sector is the engine of growth when we don’t actually mean that,” he added.