The Executive Chairman of the KGL Group says governments must stop paying lip service when it comes to the promise of making the private sector the engine of growth.

This, according to the business mogul Alex Apau Dadey is because great countries are built by entrepreneurs or businessmen and not politicians.

Speaking in an interview, Mr Dadey explained that it is, however, the responsibility of every government to back the private sector by putting in place the necessary structures and systems.

“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 also rejected the labelling of businessmen and entrepreneurs in Ghana as either members of the governing New Patriotic Party (NPP) or the opposition National Democratic Congress (NDC).

He is of the view that every businessman will work with any government in power, to help grow the economy.

Mr. Dadey stressed that entrepreneurs put in the work and effort to grow their businesses and that must not be undermined with 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.