Josiah
During the commissioning of a 430-kilometre natural gas pipeline by Genser Energy, Asantehene Otumfuo Osei Tutu II emphasized the need for the Akufo-Addo government to confront the economic realities and prioritize policies that stimulate industrial growth, leading to job creation and increased investment.
He proposed diversifying public enterprises like the Volta River Authority (VRA) and the Ghana Grid Company (GRIDCo) by involving the private sector to secure essential financial investments.
“It’s evident that government involvement in establishing companies without private sector participation is ineffective. We must embrace policies that engage the private sector to attract more investors, ultimately fostering job creation,” Otumfuo Osei Tutu II stated.
“Entities like VRA and others, traditionally government-owned, should be diversified by inviting private investment and expertise to optimize their performance. We need to rethink the role of government in these industries,” he continued. “It’s time to relinquish control of industries we struggle to sustain financially. We cannot solely rely on tax revenues or external funding; it’s unsustainable. Let’s acknowledge the strengths of the private sector and allocate responsibilities accordingly.”
Otumfuo Osei Tutu II stressed the importance of facing reality and delineating the roles of government and the private sector. He praised the private sector’s contribution to the energy sector through projects like the gas pipeline, emphasizing its ability to attract investors and drive growth.
