The CEO of the Private Enterprise Federation has revealed that the private sector’s willingness to speak truth to power has come at a cost, resulting in a breakdown of engagement with government.

Nana Osei Bonsu in an interview on Joy News’ PM Express Business Edition, explained how the private sector’s assertiveness in addressing critical economic issues led to the cancellation of regular meetings with government officials.

“They didn’t like the music we were playing,” Bonsu stated, referring to government’s reaction to the private sector’s forthrightness.

He explained that during the meetings, the private sector consistently raised concerns about the high costs of doing business and Ghana’s poor ranking on the Corruption Perception Index.

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These critiques, though necessary, were not well-received by the authorities, he said.

“We spoke the truth, and they didn’t like it,” Bonsu said.

The fallout from this outspokenness was significant.

Government stopped engaging with the private sector, and the quarterly meetings that had been a platform for collaborative discussions were abruptly halted.

“We haven’t had any meeting for the past year,” Nana Bonsu noted, adding that government effectively dismissed the private sector’s input.

“It was like they said, ‘Thank you, but we don’t need you anymore.’”

Bonsu expressed deep regret over the lost opportunity to influence government policy and help shape the economy.

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“I regret it very, very much,” he confessed.

“When we don’t talk, you don’t know what I’m thinking, and I don’t know what you’re thinking. But it affects our pocketbooks and livelihoods, and that is where it hurts the most.”

Looking ahead, Bonsu believes the way forward is for the government to embrace the private sector as a key partner in economic recovery.

“Whoever comes tomorrow, we will welcome them with open arms. But we need them to hang their coat on the domestic private sector,” he advised.