Discussants at the second edition of the Ghana Economic Forum (GEF), have observed with worry the consistent lack of integrity, and the prevalent greed and corruption among some leaders.

The situation has been attributed to the country’s inability to economically transform and turn its present and future challenges into opportunities. “Africa leaders have become very selfish, greedy and corrupt, and what that brings is that it inhabits our future developmental agenda. If we can cut corruption by 30 percent we will develop,” said Mr. Prince Kofi Amoabeng, CEO of UT Bank.

The CEO of Stratcomm Africa, Esther Cobbah, added: “good leadership is a central factor in the success or failure of the nations, organizations, public sector institutions and local communities- and there is the need to give it needed attention as a nation.

“The strategic leadership at the institutional and individual levels is a greater catalyst in driving national economic prosperity.” These remarks were re-echoed by professor Kwaku Atuahene-Gima Executive Director of China-Europe International Business School, and Mr. Edward Boateng, Founder and CEO of the Global Media Alliance when they appeared as panelists at the 2nd Ghana Economic Forum in Accra.

Mr. Edward Boateng said: “we need leaders that will be bold in making decisions that will be painful today but will benefit the country in the long-run. “If people don’t deliver on their job, they should be sacked.

But that hardly happens in Ghana, because in the private sector there are a lot of restrictions on job-firing – and for the public sector, it doesn’t even happen. “There has to be a sense of responsibility in leadership, and leaders must be ruthless in being efficient. “I am sure things will work for the country, but we need to have leaders with integrity, boldness- and with a sense of responsibility: he said.

Delivering the keynote address at the opening ceremony under the theme “the role of Leadership in Driving National Economic Prosperity,” Dolapo Ogundimu, CEO of Access Bank Ghana Limited, said Africa continues to be the world’s richest continent with more than 50% of the world’s gold, diamonds, oil, millions of acres of untilled farmland, as well as other natural resources.

“But despite our natural wealth, the continent remains the least developed. “It therefore stands to reason that any significant change in the lives of the working population can best be attained through effective private sector leadership.”

Mr. Ogundimu noted that political leadership is important for economic prosperity of any nation, adding that strategic leadership at the institutional and individual levels is a greater catalyst in driving national economic prosperity.

Today the banking industry is strong and robust, propelling economic prosperity with significant contributions to the job market and other key sectors of the economy. “Our private sector players need to innovate, implement, and scale programmes that promote entrepreneurial growth. For example, in the oil and gas industry opportunities abound, in the catering, transport and logistics, insurance, accommodation and hospitality sectors. Such ventures will facilitate economic prosperity for business that has ripple-effects on the Ghanaian economy," he said.

Mrs Edith Dankwa, Executive Director of the Business and Financial Times (B&FT), organizer of the forum, observed that in the rapidly changing Ghanaian economic and political environment, the quest for the kind of leadership that delivers sustainable development continues unabated.

“On the international front, Ghana’s economic credentials have received remarkable levels of endorsement in recent times. This has been encouraging, and particularly with the commercial production of oil and gas, the country stands a greater chance of becoming an economic powerhouse in the sub-region and the entire continent.

“The growing interest of foreign partners and other developmental stakeholders over the past decade gives credence to this.” “As a private sector organization, we strongly believe that re-orienting leadership and investing in the same will go a long way toward delivering the needed development and transformation,” she said.