If you’re looking for motivation to become a millionaire, these Ghanaian millionaires’ stories will inspire and guide you to success.
To satisfy those who are curious, Pulse.com.gh presents ten rich Ghanaian millionaires and how they made their money.
Osei Kwame Despite
Osei Kwame Despite is a philanthropist and entrepreneur from Ghana. He is the owner of Despite Firm Ltd, a trading company with a media industry subsidiary called Despite Media. In Kumasi, the media company operates UTV, PEACE FM, Okay FM, NEAT FM, and HELLO FM.
Despite the fact that he is known to have begun making money from his cassette selling business. The businessman was a distributor of Ghanaian films before the advent of CDs. His bar in Accra’s Opera Square was the place to go to see the latest Ghanaian film.
The Ghanaian millionaire is not known to have given any media interviews about his wealth acquisition. His cassette-selling business, however, is said to have thrived, and he invested in other businesses that made him millions.
Ibrahim Mahama
Ibrahim Mahama is the founder of Engineers and Planners, West Africa’s largest indigenous-owned mining company. This is sufficient evidence that the Ghanaian business magnate derived a portion of his fortune from mining.
Mr Mahama is the son of Emmanuel Adama Mahama, a wealthy politician who served in Nkrumah’s government as a Minister.
He is also Ex-President Mahama’s younger brother. Ibrahim Mahama attended school in London and worked for a property development firm before returning to Ghana to invest in mining and construction. In Ghana, he owns several other companies, including Dzata Cement Limited.
Kennedy Agyapong
Kennedy Agyapong is one of Ghana’s wealthiest politicians. Before entering Ghanaian politics, the Ghanaian businessman who lived in the United States made millions. Kennedy Agyapong frequently tells stories about bumble begging. He came from a poor family and struggled to succeed in life, according to him.
When asked how he made his first million dollars, the MP said he took advantage of the US Visa Lottery program when it was first introduced in Ghana.
“I made a lot of money. We did about 2,500 applications and everybody paid $2,500. I did all the documentation and my boss, because he is a lawyer, will go and present the documents at the immigration [office]. Out of the $2,500, my boss will get $700 and I will get the rest and use some for the documentation. So when we finished, I had made a lot of money.”
“When people don’t know your background and they think that you are a drug dealer, it is so painful. To the second chance of my money… A lot of Ghanaians had won the US lottery and they didn’t know how to process it so I went back to America and this time another boss, Lawyer Fofie, I went there and told him that I have a connection in Ghana…He was interested in the cash right there. He took $500…I bought the applications for $48,000, that’s about 96 applications and brought it to Ghana.
“That is another ‘cocaine’. At that time, I was charging $5,000 each. And in 1996, September 30, that was the last day of the US lottery, after that program, I checked my account, what I have saved and I had $1,145,000. I felt so good,” the MP added.
Togbe Afede XIV
Togbe Afede XIV is the Asogli State’s Agbogbomefia. After receiving his first degree from the University of Ghana, the wealthy Ghanaian chief worked as an accountant before continuing his education at the prestigious Yale University in the United States.
Togbe is said to have begun making money through well-paying jobs and wise investments. He is the executive chairman of the World Trade Centre Accra and was elected to the World Trade Centre’s Board of Directors in 2015.
He established SAS Finance Group Ltd, which includes Strategic African Securities Ltd, a stock brokerage and corporate finance advisory firm, and SAS Investment Management Ltd, an asset management firm.
He also founded Strategic Initiatives Ltd (SIL), a private equity and portfolio investment firm and co-founded Sunon Asogli Power Ghana Ltd, Databank Financial Services and Africa World Airlines Ltd.
Freedom Jacob Caesar
Nana Kwame Bediako, also known as Freedom Jacob Caesar, is a philanthropist, entrepreneur, and industrialist. Freedom Jacob Ceaser is a Ghanaian millionaire who knows how to get people talking about his lavish lifestyle.
When asked how he made his money, Freedom revealed that he made a million pounds at the age of 21 by selling scraps and communication materials. “By age 21, he had made a million pounds for himself, selling scrap, steel, and telecommunications material while in school at Waltham Forest College,”
Freedom, who owns a $7 million mansion in California, also revealed that he was able to afford a car and a cell phone and started his business three weeks into college.
“I started college and the first three weeks I bought a car, mobile phone and started my business.” He said the first business he opened in Ghana was a nightclub. “When I came to Ghana, the first business I opened was a nightclub.”
Dr Kofi Amoah
Dr. Kofi Amoah is a well-known Ghanaian businessman and economist. He is the CEO and owner of Progeny Ventures International and Global Access Savings and Loans Limited.
The businessman is one of Ghana’s proud millionaires who attributes their success to strategic investments. Dr. Amoah confirmed on the Delay Show that he made his first $2 million by starting a Western Union business in Africa.
“…I didn’t have a lot of money but the few times I attempted to send her some, say, 200 dollars, it got missing in transit. So, I remembered that people in Houston were sending monies to others in New York through Western Union, so I decided to make enquiries…
“It took time… I had to travel back to Africa to sign on agents to hook in the system, advertise…” Dr Amoah explained.
“Success is a process… you must have the focus, patience and the confidence and the belief and do everything that is necessary without giving up,” the renowned business mogul added.
“I started with Ghana, then I went and negotiated for the whole continent. So, that’s how I started travelling through the continent; signing on Eritrea, Uganda, South Africa, Tanzania…” he said.
Rev Gifty Lamptey
Rev Gifty Lamptey is regarded as one of Ghana’s top three wealthiest women. The Ghanaian entrepreneur began amassing wealth decades ago. Her interest and passion for food led her to start her own food processing company in 1990. She made an investment in international markets for mushrooms, papaya, and pineapple. She founded Gemanuel, a Civil & Building Construction Company, the same year.
Rev Gifty Lamptey later ventured into agro-processing, establishing Sidalco Ltd with her late husband, Hon. David Lamptey, an affluent politician and MP for Klottey-Korley Constituency.
Sidalco is a forerunner in the liquid fertilizer market in Ghana, with sub-regional reach. Dominion International Petroleum Ltd, Sidalco Construction and Roads Ltd, DEL Estates, and Empire Concretes Ltd are among the company’s successful subsidiaries.
Rev Gifty Lamptey has made millions from all of these ventures. She recently made headlines for her extravagant wedding to her son, Kojo Jones.
Dr Ernest Ofori Sarpong
Dr. Ofori Sarpong is known to be Dr. Osei-close Kwame’s friend (a.k.a Despite). The two friends established the United 2 Co. Ltd, a holding company for the U2 SALT LTD, a 600-acre salt mining company and refinery in the Central Region of Ghana.
The Ghanaian millionaire made his fortune through a series of businesses. In the 1990s, he established the SARPONG VENTURES LTD, an import and trading company that became well-known in Accra’s Central District.
He is also the owner of SPECIAL ICE LTD, a mineral water company that has expanded into carbonated soft drinks.
Dr Joseph Siaw Agyepong, Zoomlion boss
Joseph Siaw Agyepong is an accomplished entrepreneur. Waste management has made millions of dollars for Ghanaian businesses that are always looking for new and challenging opportunities as well as pioneering roles to start or grow their businesses.
He is the owner of Zoomlion, a Ghanaian company that has won several government contracts to keep the country clean. The company has diversified and spread its tentacles across Africa, generating millions of dollars for the businessman known as Jospong.
Dr Kwaku Oteng
Dr. Kwaku Oteng is a business magnate who owns a slew of companies in Ghana’s herbal medicine, broadcasting, beverages, and transportation sectors. His herbal medicine business is the millionaire’s brainchild investment that catapulted him into the spotlight path of wealth.
Angel Cream and other herbal products are made by his company. He earned his first million dollars after consistently and correctly paying his tithe, he claims.
“I can remember that about 20 years back, I have never made any money more than a million, when I get the money to like between GH80 and GH100, I fall sick and use the money to cure myself until I get well and the money finish then I get back to work,” he said whilst speaking on Angel FM, a radio station he owns.
He continued that “so it is my pastor, I approached him with my issue and he said pay your tithe appropriately because if you do within 6 months we can get money up to 3 million“. According to Dr Kwaku Oteng, he obeyed his words and even made “3 million” within 3 months.
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