Gov't Won't Compete With Private Sector... - Prez Akufo-Addo Tells African CEOs

President Nana Akufo-Addo says his government will work with both local and foreign investors not to compete with them but to create a conducive business environment.

According to the President, his administration will not encourage any act of nepotism as it works hand in hand with the investors.

He said the government will maintain a solid relationship with the investors, reiterating that "the private sector is not going to bring projects only for members of government and their cronies take over them.”

President Akufo-Addo said this when he interacted with Chief Executive Officers of leading African and International companies on the sidelines of the 5th edition of the Africa CEO Forum currently held in Geneva on Monday, March 20.

"Assuring the CEOs of the creation of a conducive climate for their businesses to flourish, which will bring in its wake jobs and prosperity for Ghanaians, President Akufo-Addo noted this 'climate' will be guided by the rule of law, and will ensure that the sanctity of a genuine contract is respected.

Talking to the CEOs, he added that the government will provide the avenue to "clean up the business climate in our country" and "make it possible for people like you to put your money into Ghana".

On the issue of contracts, the President indicated that a number of contracts, especially in the energy sector, which were entered into by the previous administration are being reviewed, as most of them involved large sums of money".

He indicated that due process is being followed in the review of these contracts, assuring that “there is not going to be any witch-hunting. I don’t have any problem with legitimate arrangements that were made before I took over. I do, however, have a problem if they were corrupt and if the considerations for the contracts are ones that cannot be justified to the people of Ghana.”

He added that if by the end of the review, and a contract is found to be dodgy, his government will act on it.

In a statement released from the Presidency, copied to, President Akufo-Addo reiterated his administration's commitment to combat corruption in the country.

In dealing with corruption, he indicated that “a new office of Special Prosecutor, which will be a creature independent of the Executive, will have the mandate to deal with issues of corruption and allegations of corruption against public office holders.”

He further stated that legislation on the office of Special Prosecutor will be brought before the Parliament in its next meeting, for passage.

“There will be special arrangements about how the prosecutor will be appointed, so that his independence from the Executive is maintained, not just in words but concretely, and also in securing the tenure of office. That body will have the remit to deal with issues of corruption, both past and present,” he said.

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