Dr Ishmael Yamson, Chairman of the seven-member team for the National Economic Dialogue
Ghana’s economic challenges have reached a critical point, but according to Dr Ishmael Yamson, former Unilever Ghana boss, this moment presents an opportunity for a fundamental reset.
Speaking on Joy News’ PM Express Business Edition on Thursday, March 6, the MTN Ghana Board Chair made an impassioned plea to the private sector, urging it to take the lead in rebuilding the nation’s economy.
“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, that the private sector can make a big, big difference,” he stated.
He stated that while government policies are crucial, true transformation must be driven by businesses and investors who have the expertise and discipline to bring about sustainable change.
“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 added.
Dr Yamson acknowledged the skepticism among investors, both local and foreign, due to the current state of the economy.
However, he maintained that Ghana’s lowest point should serve as a turning point, not a deterrent.
“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 assured.
For him, the National Economic Dialogue has signaled a renewed awareness among Ghanaians about the missteps that have led to this crisis.
“We have seen the spirit that is emerging, the awareness by ourselves of our own mistakes, and the pledges at the National Economic Dialogue that we are not going to repeat those mistakes again,” he noted.
Dr Yamson stressed that this renewed self-awareness must be met with action, particularly from policymakers who need to work in collaboration with businesses.
“Our politicians will come along with us, and we will be development partners, partners in growth,” he said.
The business leader made it clear that economic recovery will not happen without sustained investment and cooperation between the private sector and government.
“So my encouragement to the private sector is stay, invest. Let’s build a better Ghana,” he urged.
Ghana, he argued, is uniquely positioned for economic success if all stakeholders commit to a collective reset.
“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,” he concluded.
Dr Yamson’s message is clear: Ghana cannot afford to wait for change to come from the top. The private sector must rise to the occasion, not just for profit, but for the nation’s future.
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