The Executive Chairman of KGL Group, Alex Dadey, has called on African leaders to collaborate with the private sector to harness the full potential of its resources to achieve sustainable growth.
He said Public Private Partnership (PPP) is the surest way to sustainable economic growth but would be difficult to achieve if African economies fail to partner with the private sector.
Addressing participants at the 3rd edition of the Africa Prosperity Dialogues 2025 in Accra, he said such partnership is the surest way to develop African economies.
He said governments therefore need to collaborate with the private sector to help unlock potentials that would accelerate the continent’s development.
“Central to our growth is the power of public-private partnership which serves as a cornerstone for delivering critical infrastructure and fostering sustainable economic growth. I have always maintained that governments do not create wealth, the private sector does,” he noted.
He stated that providing incentives as well as other forms of support would enable governments to leverage the expertise, innovation, and funding of private enterprises to tackle the complex challenges to facilitate economic development in ways that would otherwise be unattainable.
Mr. Dadey also cited some examples of partnerships with some state institutions that have brought some substantial benefits.
“Our strategic partnership with the Ghana National Lottery Authority has revitalized the state lottery sector in Ghana by turning it from a loss-making one to one of the most profitable state enterprises in Ghana in just under four years.
He said the KGL Group among other innovations combined technologies, operational efficiency, marketing expertise, and capital injection with the government’s regulatory framework and public trust making significant contributions to the economy.
“We must leverage the power of inclusion and collaboration, harness the potential of diaspora, create tax incentives to attract investment, and support the next generation of entrepreneurs.
“Together, we can build a more integrated, prosperous, and resilient Africa,” he added.
The 3-Days conference was held under the theme, “Delivering Africa’s single market through Infrastructure: Invest, connect, integrate” which started on Thursday, January 30, 2025, and ends on Saturday, February 1, 2025.
By Ebenezer K. Amponsah