He said undertaking economic activities for profit was not the role of the government and it should, therefore, offload its shares in these enterprises.

“Government should completely wash its hands off these enterprises and just remain a regulator and enjoy the returns,” Mr De-Graft said in an interview with the Graphic Business.

According to him, the role of any government was to provide an enabling environment for businesses created by individuals and other corporate bodies to thrive.

In his view, governments all over the world are expected to govern and not do business, explaining that their job is to set the framework to ensure that the private sector engages in business and does it appropriately.

Mr DE-Graft, who is also the organiser of the Chief Executive Officers (CEOs) Summit, said this year’s summit would, therefore, be used as a platform to tell the government that “the private sector is ready. Do your primary responsibility and give the business opportunities to the private sector”.

CEOs Summit

The 2nd edition of the Ghana CEO Summit and Awards, which is powered by the Chief Executives Network Ghana with support from Delloite, will be held on the 22nd and 23rd of May, 2017, with the President of the Country, Nana Addo Dankwa Akufo-Addo, as the special guest of honour.

Those who are expected talk at the summit include the Minister of Business Development, Mr Ibrahim Awal Mohammed; the Minister of Finance, Mr Ken Ofori Atta; the Minister for Communication, Mrs Ursula Owusu; the Country Director of the International Fund (IMF), Ms Natalia Koliadina; and the Country Director of the World Bank, Dr Henry Kerali.

Mr De-Graft said the summit, which would be on the theme: ‘Digital innovation economy for business growth’,  would enable both global and local CEOs to integrate and interact with world-class subject experts to foster knowledge acquisition, learning, partnerships and synergies that could drive increased personal and organisational growth.

He said it would also allow for themed round-table discussions among peers moderated by a seasoned industry lead on sector-related topics, major trends, opportunities, new projects and also challenges. 

The event will culminate in a CEO Summit awards presented at a high-level exclusive gala dinner on the final day. CEOs who have demonstrated extensive leadership evidenced by the completion of ambitious projects or sustained business growth will be awarded in various predetermined categories.

“The summit will focus on three main areas which are digital innovation economy, business growth and economic development,” he noted.

Digital innovation

Mr De-Graft said the theme for the summit was informed by a basic research arising from discussions from last year’s event.

He said the digital revolution was bringing about changes in modes of production and patterns of consumption in how people understood the world,  how people governed and even how people lived together in a society.

“The digital economy is, however, a double-edged sword as it presents risks, as well as opportunities and chances for inclusion as well as exclusion,” he pointed out.

He said this year’s event would, therefore, focus on how to interface technology with the economy because the moment “we get the sync right, it will lead to economic growth”.

“Everybody must be included in the technology drive and we should get the decision makers to understand and begin to patronise it. Once they do that it will cascade down to the grassroots - the private sector,” he stated.

“They provide the enabling environment so if the policies are informed by technological spearheads, then it becomes very easy for the private sector,” he added.