Commit to building sustainable, innovative businesses – Entrepreneurs told

Executive Chairman-McDan Group, Dr. Daniel Mckorley, has urged entrepreneurs to commit to building sustainable and innovative businesses rather than just profit-making ones.

In his address at the Global Quality Brands Summit and Awards, Dr. Mckorley highlighted the need for entrepreneurs to embrace diversity and create environments that foster creativity and collaboration. He emphasised the importance of leveraging platforms to advocate for policies that promote economic stability, environmental stewardship and social equity.

He noted that entrepreneurs have a unique capacity to forge pathways that tackle societal issues head-on. He added: “Whether it is developing sustainable logistics solutions, pioneering advancements in the way we mine to eliminate the harmful effects of galamsay or leveraging technology to bridge educational gaps, the entrepreneurial spirit is inherently aligned with problem-solving and progress”.

He indicated that the challenges faced today, from climate change to unemployment, demand bold thinking and decisive action – which are the hallmarks of entrepreneurship. By harnessing collective dedication, entrepreneurs can drive not only economic prosperity but also meaningful, lasting change, he added.

Senior Policy Advisor to the Vice President,Professor Kwaku Appiah-Adu, in his remarks on the theme ‘Celebrating Global Premium Quality Brands in Ghana’ said introducing global premium quality brands into the local market has a cascading effect on the economy’s various sectors.

The retail industry for instance, he said, has witnessed a transformation in terms of quality and variety of products available to consumers. This has led to heightened consumer expectations, compelling local retailers to improve their offerings and customer service standards.

Additionally, the presence of these brands has stimulated growth in ancillary sectors such as logistics, advertising and real estate, creating a multiplier effect that benefits the broader economy.

Prof. Appiah-Adu stated that in celebrating global premium quality brands, it is essential to acknowledge the role they play in enhancing the nation’s infrastructure and human capital development,

The Australian High Commissioner to Ghana, Bernice Owen-Jones, advised entrepreneurs to embrace climate-smart solutions to thrive as sustainable competitive global brands.

The High Commissioner also lauded home-grown initiatives that offer African solutions to local challenges, citing the Africa Continental Free Trade Area (AfCFTA) as a significant opportunity for intra-Africa trade growth.

With the AfCFTA aiming to increase trade by 81% and remove 90% of tariffs on goods by 2035, the High Commissioner called for effective implementation of this trade agreement by the government of Ghana and other African nations.