On November 7, 2024, at the Ghana CEO Presidential Gala Dinner, Daniel McKorley, Executive Chairman of the McDan Group, voiced his concerns about Ghana’s business climate, pointing to a lack of effective government support for local enterprises. He described the business environment as challenging and unsupportive, stressing the resilience required to succeed as a Ghanaian entrepreneur.
“Government policies have really not helped the private sector,” McKorley stated, reflecting on the struggles he believes local businesses face due to insufficient policy support. He further highlighted that Ghana’s economic structure often fails to empower local businesses, warning that this could undermine the country’s development potential. According to McKorley, with the right support, his enterprises alone could generate up to $3.2 billion annually for the government, helping to stimulate the economy and create more jobs.
Gabby Asare Otchere-Darko, a prominent member of the New Patriotic Party (NPP), responded to McKorley’s critique, expressing surprise. He noted that McKorley’s McDan Group received substantial government backing for the Ada salt project, one of Africa’s largest salt concessions. Otchere-Darko highlighted this as a testament to the government’s commitment to supporting private sector initiatives, emphasizing that the project’s development had been facilitated by the current administration after years of stalled progress under previous governments.
Posting his response on social media platform X, Otchere-Darko said, “I am perplexed! This is from an entrepreneur who enjoyed the full support of government to own the largest salt concession in Africa.” He cited the Ada salt project’s potential to generate $2 billion annually in revenue as evidence of the government’s role in helping local businesses succeed.
Despite Otchere-Darko’s defense, McKorley maintained that broader policy improvements are essential to foster a healthier business environment, similar to those seen in other nations that prioritize the growth of local industries. He argued that Ghana’s development depends on a mutually beneficial relationship between the government and the private sector, urging policymakers to view local businesses as strategic partners. This partnership, he suggested, would support national growth, entrepreneurship, and job creation.
McKorley’s remarks reflect a common sentiment among Ghanaian entrepreneurs who face operational challenges despite government support on certain high-profile projects. His call for further reforms signals a push for policies that create a more supportive ecosystem for all local businesses, not just large projects.
This exchange between Otchere-Darko and McKorley highlights the ongoing debate over the government’s role in nurturing the private sector in Ghana, with both sides underscoring the importance of policy frameworks that enable local businesses to thrive.
blogpay
Total Comments: 0