Step out of your comfort zone …Stanford Seed Network boss tells business leaders to drive Ghana’s economic growth
The President of the Stanford Seed Transformation Network (SSTN), Mr. Prince K. Arkutu, has called on the private sector to step out of its comfort zone and actively support the new government’s Ghana Reset Agenda. He emphasized that business leaders must play a pivotal role in driving industrialization and fostering economic growth.
Ghana’s newly sworn-in President, John Mahama, campaigned on a promise to “reset” the country, with a new economic model focused on agriculture and agribusiness. His vision aims to create jobs for young people, stimulate local industries, and attract foreign investment. However, his administration faces mounting pressure to deliver on campaign promises, particularly in addressing high youth unemployment and tackling corruption—two key issues that have eroded public trust in the political system.
Against this backdrop, Mr. Arkutu urged business executives to take proactive steps toward economic transformation.
Private Sector’s Role in Economic Growth
Speaking at SSTN’s annual New Year networking cocktail event in Accra, he stated:
“It is time for us to rally behind the elected government and align our efforts with the Ghana Reset Agenda. The private sector has a crucial role to play in job creation, particularly for the youth. This is essential for economic growth and for reducing brain drain. We must act now and collaborate to achieve these objectives.”
He reaffirmed SSTN’s commitment to supporting the government’s pro-business policies, stressing that the network’s over 120 business leaders are uniquely positioned to drive this transformation. Through job creation, innovation, and sustainable business practices, SSTN aims to actively align its initiatives with the government’s vision for economic recovery and growth.
Access to Capital for Business Growth
The event featured insightful presentations from Karl Ocran and Hose Kakane of Growth Investment Partners (GIP), who shared their expertise on funding solutions for businesses. They highlighted the importance of access to capital for scaling enterprises and achieving long-term growth. Their insights resonated strongly with attendees, many of whom are actively seeking innovative financing options to expand their businesses.
A Platform for Collaboration and Networking
The event provided a valuable platform for SSTN members to connect, exchange ideas, and explore opportunities for collaboration. It brought together CEOs, entrepreneurs, and industry leaders from diverse sectors, all united by a shared vision of driving Ghana’s economic transformation. Special guests included investors and executives from the Ghana Stock Exchange.
SSTN emphasized that government support in reviewing certain taxes and reducing the cost of capital is critical to enabling private sector expansion. This, in turn, would help address youth unemployment and curb the ongoing brain drain.
Empowering the Next Generation
Over the years, SSTN has prioritized initiatives that empower young people through skills development, mentorship, and entrepreneurship programs. By creating opportunities for youth, the network seeks not only to boost the economy but also to retain Ghanaian talent within the country. One of SSTN’s flagship social impact projects, the Scholarship Program, has already sponsored five brilliant but underprivileged students for tertiary education over the past five years.
The Role of Innovation and Technology
The choice of Npontu Technologies’ rooftop as the event venue underscored the crucial role of technology and innovation in economic transformation. SSTN members were encouraged to embrace digital transformation and leverage technological advancements to enhance their businesses. The venue was graciously provided by founders Dr. Stephane Nwolley and Deborah Asmah, who also shared insights on how technology is shaping the future of Ghana’s economy.
As the official kickoff of SSTN’s annual calendar, the evening was a celebration of collaboration, innovation, and a shared commitment to economic transformation in Ghana.
By Eugene Davis
