By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Starr FmStarr FmStarr Fm
  • Home
  • Election Hub
  • General
    GeneralShow More
    Shama community dialogue pushes for greater inclusion of women in fisheries
    May 24, 2026
    EPA raises alarm over destruction of Nzema wetlands by illegal miners
    May 23, 2026
    Ghana, Nebraska sign MoU to boost livestock and diary production
    May 23, 2026
    GH¢20m Film Fund should drive production, not workshops – Kofi Asamoah warns against misuse
    May 23, 2026
    EPA cracks down on galamsey in Ellembelle; arrests lead operator
    May 22, 2026
  • Business
    BusinessShow More
    We’ll overcome the uphill battle of restoring customer trust after license reinstatement – GN Savings and Loans
    May 22, 2026
    GIADEC, TDC and ARISE IIP hit key milestone in a move to develop Tema Integrated Industrial Park
    May 22, 2026
    Policy rate at 14 percent: Middle East crisis is the elephant in the room – BoG Boss
    May 21, 2026
    MTN Ghana holds SME Business Clinic in Koforidua to boost productivity and job creation
    May 21, 2026
    Court of Appeal orders Bank of Ghana to restore GN Savings and Loans operating license with immediate effect
    May 21, 2026
  • Politics
    PoliticsShow More
    Takoradi NPP polling station elections rocked by alleged petition fraud scandal
    May 23, 2026
    Strategic planning, data-backed decision-making, and sharper communication can win NPP 2028 elections – Afoko
    May 23, 2026
    Xenophobia: Foreign Minister Ablakwa arrives in South Africa to expedite evacuation of Ghanaians
    May 22, 2026
    Parliament to consider Constitutional Review Committee’s report including presidential term extension
    May 22, 2026
    Governs Kwame Agbodza
    ‘Stop farming near Adaklu Mountain’ – MP warns after devastating muslide
    May 22, 2026
  • Entertainment
    EntertainmentShow More
    Kofi Asamoah calls for strong accountability measures to sustain National Film Development Fund
    May 23, 2026
    GH¢20m Film Fund should drive production, not workshops – Kofi Asamoah warns against misuse
    May 23, 2026
    Film Fund a major boost to Ghana’s creative industry – Kofi Asamoah
    May 23, 2026
    Akua Sonto dominates at Foklex Media Awards; crowned best Morning Show host and best female newscaster in Greater Accra
    May 20, 2026
    Mr. Berry honoured as Drive Time Presenter of the Year at 15th Foklex Media Awards
    May 18, 2026
  • Sports
    SportsShow More
    Ghana’s Isaac Obeng clinches bronze at ORAN World Para Powerlifting Championships 2026
    May 24, 2026
    Ghana’s Isaac Nii Ayetey Tagoe wins bronze at ORAN World Para Powerlifting Championships 2026
    May 24, 2026
    Ghana begins road to LA2028 as NPC Ghana sends Para Powerlifting Team to African Championship
    May 23, 2026
    African Athletics Championship could have been better organised – NSA boss admits challenges
    May 23, 2026
    “We are paying the price” – Ghana Swimmers cry out over Federation crisis
    May 23, 2026
  • Technology
    TechnologyShow More
    Yahoo Finance spotlights Katon Meet as a strong video conferencing platform
    May 7, 2026
    African-Led ANH-ARC platform launches in Ghana to transform food systems, nutrition and health
    May 2, 2026
    Amardeep Singh Hari named Ghana’s most influential tech entrepreneur of all time
    April 30, 2026
    Yellow Card publishes 2026 report on data protection and AI governance
    April 23, 2026
    Master AI and cybersecurity to fight fake news – Dr Zanetor Rawlings to Ghana’s youth
    April 22, 2026
  • International
    InternationalShow More
    Government partners Portage Energy Group on waste-to-energy and aviation fuel project
    May 20, 2026
    Mikel Arteta leads Arsenal to 2025/26 Premier League title after 22 years
    May 19, 2026
    Pep Guardiola set to leave Man City with Maresca expected to takeover
    May 19, 2026
    Health expenditure must be viewed as investment linked to economic growth – Mahama
    May 18, 2026
    OECD conference: Ghana calls for shift from aid dependency, pushes practical global development partnerships
    May 18, 2026
  • Factometer
Search
© 2024 EIB Network Ltd. All Rights Reserved.
Reading: The endless struggles of Ghanaian businesses (Part 2) – Dr. Paul Herzuah writes
Share
Notification Show More
Font ResizerAa
Starr FmStarr Fm
Font ResizerAa
  • Headlines
  • Election Hub
  • General
  • Politics
  • Sports
  • Business
  • Entertainment
  • Factometer
Search
  • Headlines
  • Election Hub
  • General
  • Politics
  • Sports
  • Business
  • Entertainment
  • Factometer
Have an existing account? Sign In
Follow US
© 2024 EIB Network Ltd. All Rights Reserved.
Features

The endless struggles of Ghanaian businesses (Part 2) – Dr. Paul Herzuah writes

Starrfm.com.gh By Starrfm.com.gh Published January 27, 2025
Share
Dr. Paul Herzuah
SHARE

…Second-class citizens

In this highly globalised world, competition from foreigners within respective national economies are not only inevitable, but they can also be very beneficial for the host economy. They have their own benefits of, among others, increased skill and knowledge transfer. But for nations which strategically put their own selves—their own citizenry and businesses—in positions of ‘second-class citizens’, such infiltrations by such foreign entities can only spell doom.

Indeed, when you take the world’s leading industries, such as mining, telecommunications, construction, manufacturing, etc., what do we see prevailing in the Ghanaian ecosystem? Regrettably, these sectors are often dominated by foreign entities, while Ghanaians are relegated to the margins, competing for very limited opportunities—in their very own home! But you take developed nations like the United State of America, and what do you find?

In sharp contrast, this nation’s top companies are American-owned (or largely American-owned)—from Apple to Microsoft, Nvidia (the world’s leading AI company), Alphabet (owners of Google), Amazon, Meta (Facebook), Berkshire Hathaway, Eli Lilly (a leading pharmaceutical company), Broadcom, Tesla, Walmart, JPMorgan Chase, Visa, UnitedHealth, Exxon Mobil, Mastercard, Oracle, etc. And there is a reason for this: it is local businesses that build great nations. Every other factor—external factors to boot—are merely complementary.

The World Bank, put this perfectly when it wrote regarding the African continent’s mining sector specifically (in an article titled ‘Can Natural Resources Pave the Road to Africa’s Industrialization?’):

“Even if rising demand for raw materials from the booming cities of China and India, among others, has driven growth in Africa’s mining sector, most of the continent has not yet translated mineral wealth into industrialization and widespread economic development. Most African countries continue to export raw materials and then pay a premium to import the products made with them.”

Indeed, African countries—resource-rich African nations—are not living up to their fullest potentials. This is because they are not their own topmost producers. They run a highly-reliant foreign-business regime.

And this is why the continent is not succeeding at the pace it should. Because here is the thing about foreign entities: it is in their nature, quite understandably, to operate a system of ‘grab and go’. It is in no foreign business’s organisational mission and vision statements to ultimately see to the socio-economic wellbeing and advancement of their host countries.

Any nationalistic goal they may have—going beyond their own organisational goal—will always be for their own home nations. Unlike homegrown companies, foreign companies often have no interest in re-investing in their host nations, nor diversifying into other sectors so as to cause further growth and increased employment in their host nations. On the other hand, re-investments and diversifications are the first languages of homegrown companies.

Yet, the Ghanaian businessman and woman find themselves always on tenuous grounds in their own home. They do not have the benefit of an ease of survival as their foreign competitors, as discussed in last week’s article. Yet after navigating these many challenges, the very few Ghanaian businesses that manage to survive, are left to face yet another hurdle—one which can only be described as self-hate.

Sadly, we often leave these very important national conversations to get lost in political noise. Because there you have an individual as prominent in the Ghanaian business ecosystem for many years like the CEO of the McDan Group, Dr. Daniel McKorley recently lamenting the lack of support or the availability of very limited support to Ghanaian businesses by, among others, Ghanaian governments… During the Ghana CEO Presidential Gala, an event which happened on the 7th November, 2024, Dr. McKorley noted, “I will be very blunt… Government policies have really not helped the private sector. That is where we are sitting right now, and we have to be frank about it.”

But some political forces—and Ghanaians, in fact—choose to dismiss this as an Oliver asking for more, Yet, this does not take away from this very ingrained, broader national issue. And the issue is this: it is way too difficult for Ghanaian businesses to find successes and longevity in this country of ours.

Yet, after painstakingly navigating these endless hurdles, the Ghanaian is faced with yet another set of hurdles. A set of hurdles which isn’t particularly easily discernible by the naked eye. This particular set of hurdles is much more covert in its methods. It often comes in the guise of serving the ‘public good’. But really, when those actors and actions are keenly investigated, you find lying behind it all, a concerted effort by Ghanaians—empowered by foreign forces—to strategically bring fellow Ghanaians down. Either intentionally or unintentionally. An action unmistakably reminiscent of the colonial era.

Fuelled by foreign energy

When you find certain organisations, entities, CSOs, etc., that are largely financed by foreign entities, purporting to be conducting certain activities towards the public good, you have every reason to be reflective—and question the real intentions behind their operations and the intentions of their financiers. This is because many a time, these foreign financiers have been known to finance certain operations, so-called public-geared initiatives, and certain CSOs with their own ruthless and clandestine objectives and interests in mind. Neocolonialism at its very best!

For instance, in the 1990s, a Nestlé salesman in the developing country of Pakistan, whistle-blowed on Nestlé’s unethical and illegal practice of bribing Pakistani doctors to push Nestlé’s baby formulas to mothers—by very incorrectly and heartlessly recommending these formulas as being more beneficial to their babies than breast milk. Since 2011, the company has been under investigation in China over the same allegation. The company was also found to have bribed a certain Ernest W. Lefever, an American political theorist and foreign affairs expert and founder of the Ethics and Public Policy Center, USA to influence a then medical report his institution was undertaking on medical care in developing countries, such as ours.

Yes, this multinational giant, literally, countlessly bought and paid for scientists to do their bidding.

That is why as Africans, as Ghanaians as we are, looking at the history we have had as a people, we have every reason to be investigative and doubtful of those organisations and entities who tend to be largely funded by foreign forces. We have every reason to be wary, for we as a people know what our weaknesses are—our tendencies towards neocolonialism… Our tendencies towards falling as victims of neocolonialism. So much so that you can easily transport this case of Nestlé in Pakistan and China to Ghana and see, very blatantly, a similar situation ensuing without hesitation.

How robustly have we as a people built ourselves against being used as puppets by the puppeteers of the developed world? How well can you trust your fellow Ghanaian to have built themselves from being used as same? I can only guess that your faith in us as a people is low—and with reason.

That is why when we hear these instances of such Ghanaian organisations rallying behind foreign entities in their fight against certain local competitors, you as a Ghanaian, have every reason to be reflective—to look at the issues more keenly, read between the lines to sniff out any neo-colonialist plot that may be at play.

>>> Dr. Paul HERZUAH-the writer is a media & political communication analyst. He is currently a lecturer at the University of Media, Arts & Communication

You Might Also Like

Losing History: Untold stories of Ghanaian Heroes in a Fight to preserve a Nation’s memory

The Damang Gold and the Economy of Ghana: State Ownership versus Ibrahim Mahama’s E&P

Thoughts of a Ghanaian Youth: Has Ghana Really Progressed Since 1992?

Ghana’s Film Industry Is Not Broke, It Is Stuck

Sold Dreams, Stolen Lives: Inside the Ivorian Camps Where Over 450 Ghanaians Are Trapped in Trafficking Nightmare

TAGGED:Dr. Paul HerzuahGhanaian businesses
Share This Article
Facebook Twitter Email Print
Share
Previous Article Maiden Canada-Ghana Agribusiness Summit comes off in Saskatchewan in July 2025
Next Article The hidden crisis – How Ghanaian businesses can save their IT Teams from burnout and cyber threats!

Starr 103.5FM

Starr FmStarr Fm
Follow US
© 2024 EIB Network Ltd. All Rights Reserved.
newsletter icon
Join Us!

Subscribe to our newsletter and never miss our latest in news, podcasts etc..

[mc4wp_form]
Zero spam, Unsubscribe at any time.
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Lost your password?