Minority Leader in Parliament, Alexander Afenyo-Markin, has called for stronger policy and financial backing for indigenous businesses in Ghana, arguing that empowering local enterprises is essential to long-term job creation, wealth retention, and economic resilience.
Speaking on Metro TV’s Good Morning Ghana on April 6, the Effutu MP said while foreign direct investment remains important, Ghana must do more to ensure that local entrepreneurs are equipped to grow sustainable businesses that can compete and thrive.
“Whoever invests in Ghana owns the source and will repatriate profits. “But when a Ghanaian business succeeds, the value largely remains here and creates jobs.” - Minority Leader in Parliament
Local Ownership Key to Economic Growth
Afenyo-Markin stressed that building a stronger domestic private sector should be a strategic national priority.
In his view, local business growth offers a more durable route to broad-based development because it keeps capital circulating within the economy and strengthens household incomes.
He noted that support for indigenous enterprise should not be interpreted as hostility toward foreign investors, but rather as a deliberate effort to balance external capital with homegrown economic participation.
His comments come at a time when concerns over job creation, industrial expansion, and private sector competitiveness remain central to Ghana’s economic debate.
Warning Against Abuse of State Support
Despite advocating more support for local businesses, the Minority Leader also issued a caution over the misuse of state-backed opportunities.
He warned that financial assistance meant for enterprise development must not be diverted into personal consumption, saying such practices undermine both public trust and the very purpose of government-backed interventions.
“If you are given capital to build a business, you must not misuse it.
"Otherwise, you undermine the very government you claim to support and ultimately harm the country.” - Minority Leader in Parliament
He added that governments often support business-minded individuals within their political ecosystems, but the real issue is whether those beneficiaries use the resources productively.
Patient Capital and Skills Development
Afenyo-Markin also highlighted the importance of “patient capital”, long-term, low-interest financing that gives businesses room to mature. However, he noted that access to such capital depends heavily on proper planning, governance, and succession structures.
Beyond financing, he called for a broader national reset in mindset, productivity, and work ethic, arguing that economic transformation cannot happen without discipline and purpose.
He further raised concern over Ghana’s continued bias toward white-collar education, saying the country must place greater value on technical and vocational careers.
According to him, the shortage of skilled local labour is allowing foreign workers to dominate technical sectors that should be creating opportunities for Ghanaians.
“We must reach a point where a parent is proud when their child chooses a skilled profession.” - Minority Leader in Parliament
The Minority Leader concluded that Ghana’s economic future depends on a combination of disciplined entrepreneurship, targeted government support, and a stronger culture of productivity.
He urged policymakers to build an environment where local businesses can grow responsibly and where practical skills are valued as highly as academic qualifications.
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