Former President John Dramani Mahama has challenged Ghanaian entrepreneurs to look beyond immediate profitability and institutionalize governance structures that allow their enterprises to thrive long after their founders step aside.
Addressing business leaders and private sector stakeholders in Accra, Mahama warned that too many prominent indigenous companies in Ghana fail within their first generation because of an over-reliance on founder charisma rather than formalized management systems.
Institutional Governance and Succession Planning
Mahama stressed that establishing independent boards, transparent auditing, and defined executive succession pipelines is essential if local firms are to compete under continental frameworks like the African Continental Free Trade Area (AfCFTA).
“A business that relies entirely on one individual is vulnerable the moment that person is no longer there. True indigenous wealth creation requires building institutions, grooming capable successor talent, and separating family ownership from executive management,” Mahama said.
He cited beverage conglomerate Kasapreko Plc as a rare Ghanaian success story that successfully transitioned from founder Dr. Kwabena Adjei to next-generation executive leadership while scaling into international export markets.
Expanding Access to Long-Term Capital
The former president also urged commercial banks and domestic institutional investors, including pension funds, to develop long-term equity and debt financing instruments specifically designed for local scale-ups seeking to formalize their operations.
He concluded that a robust, institutionalized private sector remains the only viable engine for creating durable employment and stabilizing the national economy.
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