Private Sector's High Hopes Have Been Shattered Due To NPP Administration's Failure - Nana Osei Bonsu

As far back as 2017, when the NPP administration took over the reins of governance in Ghana, high hopes were placed on it by the private sector to ride on its pledge-the private sector would be made to be the country's engine of economic growth. The private sector had hoped much from the government, based on its campaign promises and policies which would drive business investment and innovation.

The Chief Executive Officer of the Private Enterprise Foundation has expressed extreme disappointment in the performance of this government. Speaking on Joy News' PM Express Business Edition, Bonsu noted that although the private sector largely mobilized for the NPP, any such collaboration appeared never to have taken place. "I won't say they didn't give us support, they didn't know what support to give us," he said, suggesting the intention of the government was not well-communicated with effective action.

In December 2016, before the inauguration of the NPP, PEF presented a 10-point plan to the then-incoming president, highlighting what that sector required. However, Bonsu bemoans that this administration did not make good on the critical promises it gave to the private sector. The absence of such support has retarded economic growth and made several businesses struggle to survive.

According to Bonsu, quarterly meetings with the government's economic management team were supposed to foster ongoing dialogue and ensure that the concerns of the private sector were taken care of. Those meetings came to an abrupt end, underlining a growing estrangement between the government and captains of industry.

The private sector is not doing well," Bonsu lamented; "the government is in a position to provide the enabling environment, and all the private sector can do is hope that things will change. The communication breakdown and lack of action from the NPP have left the private sector frustrated.