Speaking at the Institute of Economic Affairs (IEA), dialogue in Accra, he said failure by leadership to focus on long term sustainable goals at the expense of revenue have contributed to unsustainable development.
He said, “We have long maintained the false paradigm that producing more basic products to generate more revenue, automatically equals development which equals wealth. This approach has not led to sustainable development or resilient wealth because many factors have impacted the long term health of the economy”.
According to him, the trend could be reversed if government shifts its values and priorities while willing to look beyond short term gains and focus on long term sustainability changes in policy, education and cultural attitudes towards development and wealth creation.
He said sectors such as agribusiness, cultural and creative business and knowledge industries among others which are largely unexploited could be improved with purposeful leadership that is passionate about strategic investments and research and development when new technologies and strategies were deployed.
“To create an enabling environment for economic growth and development, public and private sector leaders in Ghana must prioritise the values of integrity, accountability, s pro-innovation mindset and also promote behaviours such as discipline, inclusivity and sustainability,” he added.
He also mentioned that the public sector could plug in long term development goals for the private sector to lead while the private sector makes efforts to support the public sector.