The Asantehene, Otumfuo Osei Tutu II, held a private meeting with eleven leading Ghanaian business executives at Manhyia Palace on Wednesday to discuss the current business climate and explore solutions to challenges facing the private sector.
The session brought together prominent entrepreneurs including Thomas Svanikier, founder of Svani Group and co-founder of Fidelity Bank; Kofi Amoa-Abban, Group Chief Executive Officer (CEO) of Rigworld Group; Joana Gyan Cudjoe, CEO of Golden Empire Legacy Limited; Philip Tieku, CEO of Star Oil; and Daniel McKorley, founder of McDan Group.
According to Opemsuo Radio, the gathering provided an opportunity for the monarch to hear directly from business leaders about obstacles hampering private sector growth. Otumfuo Osei Tutu II intends to use his moral authority to engage government stakeholders on issues affecting entrepreneurs and businesses.
The meeting comes as the Asantehene has intensified his economic advocacy in recent weeks. During a January 7 visit to the Bank of Ghana (BoG) headquarters, he called for a massive push to stimulate domestic private investment, arguing that government investment alone cannot build a robust economy.
“No amount of investment by government on its own can scratch the surface of what we need to give ourselves a sound economy,” the monarch stated during the BoG visit. “Nor can we rely on foreign investments of any significance in this era of international discord.”
The Asantehene specifically urged the central bank to introduce measures reducing interest rates, which he described as currently hindering economic production. He challenged BoG officials to fashion creative solutions for moving the economy from what he termed a crippling high interest regime to levels where interest becomes a stimulant rather than an impediment.
BoG Governor Dr. Johnson Asiama praised the Asantehene’s leadership during the January 7 encounter, describing it as a vital source of stability, guidance and wisdom for Ghana’s national development. The governor emphasized that Otumfuo’s approach has been deeply anchored in wisdom and moral clarity.
“In moments of national tension, you have reminded us that true authority is not exercised through noise or spectacle, but through balance, restraint, and moral clarity,” Dr. Asiama stated.
The Wednesday business leaders meeting at Manhyia Palace represents a continuation of the monarch’s engagement with economic stakeholders. The Asantehene has increasingly positioned himself as an intermediary between the private sector and government, leveraging his traditional authority to advocate for policies supporting business growth.
Ghana’s business community has faced mounting challenges including high interest rates, foreign exchange volatility, elevated operational costs, and difficulties accessing affordable credit. Many entrepreneurs have called for policy interventions to improve the business environment and support domestic economic activity.
The Asantehene’s intervention comes at a critical time as Ghana continues working to stabilize its economy following recent debt restructuring efforts. The country has made progress reducing inflation, which fell to 5.4 percent in December 2025 according to official statistics, but businesses continue struggling with the lingering effects of economic pressures.
Traditional rulers in Ghana have historically played significant roles beyond ceremonial functions, often serving as mediators, advisors and advocates on issues affecting their communities. Otumfuo Osei Tutu II has built a reputation for thoughtful engagement on governance, economic policy and national development.
The monarch’s active involvement in economic discourse has drawn praise from various stakeholders who view traditional authority as complementary to formal government structures. His visits to state institutions including the BoG and Ghana Police Service in early January demonstrated the ongoing dialogue between traditional leadership and constitutional bodies.
Dr. Asiama assured during their earlier meeting that the Bank of Ghana remains fully committed to fulfilling its mandate firmly, independently and professionally, while commending the Asantehene for his continued counsel and lifelong commitment to peace, unity and national progress.
The private sector represents a crucial driver of Ghana’s economic growth, contributing significantly to employment, tax revenues and overall development. Business leaders have emphasized the need for stable policies, improved infrastructure and reduced bureaucratic obstacles to unlock the sector’s full potential.
The outcome of Wednesday’s deliberations and any specific recommendations from the business leaders were not immediately disclosed. However, the meeting signals the Asantehene’s determination to facilitate productive conversations between entrepreneurs and policymakers aimed at strengthening Ghana’s economic foundation.