Africa Must Build Indigenous Enterprises for Global Competitiveness

Alex Apau Dadey, the Group Executive Chairman of KGL Group of Companies, emphasized the need for Africa to develop resilient indigenous enterprises that can compete globally while fostering sustainable economic transformation. Speaking at the 10th Ghana CEO Summit 2026 in Accra, attended by President John Dramani Mahama, Dadey argued that Africa's future prosperity hinges on building strong institutions rather than relying solely on entrepreneurial ambition. He highlighted that the continent's vast potential can only be realized through effective governance, industrial capacity, and enduring institutions. Dadey warned that Africa is at a critical crossroads, facing a choice between remaining a market for foreign ambitions or developing its own enterprises to influence global economic outcomes. He urged governments and regulators to support local businesses, advocating for a shift in perception that does not view successful indigenous enterprises with suspicion. While acknowledging the importance of accountability and regulatory compliance, he stressed that weakening local productive capacity would hinder industrialization. Dadey's remarks call for a concerted effort to nurture local champions that can drive Africa's economic future.