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ENTREPRENEURSHIP

Richest Entrepreneurs in Ghana

Top Richest Entrepreneurs in Ghana.

Glusea brings to you the top richest entrepreneurs in Ghana

Ghana is a land of many possibilities. Many a people has established companies from scratch and have grown it into multi-million industries.

In this article we bring to top 10 of such individuals, read through their inspiring stories.

Top Richest Entrepreneurs in Ghana.

Osei Kwame Despite

Kwame Despite net worth
Kwame Despit net worth

The name Despite is a household name in Ghana. He is one of the most successful businessmen in Ghana.

He has climbed through all the stages of entrepreneurial growth.

Osei-Kwame is the owner of the Despite Company Ltd which is a trading company and with subsidiaries in the media industry namely, PEACE FM which is the largest and the most poplular FM station in the country, OKAY FM station, NEAT FM both in Accra and HELLO FM station in Kumasi. He is also the founder of NEET foods, UTV, and the cofounder of best point savings and Loads company.

Kennedy Agyapong

Kennedy Agyapong companies
Kennedy Agyapong

Kennedy has a very inspiring biography for up and coming entrepreneurs in Ghana, He had 7 taxis in 8 months. He started his business life in Germany in the 1980s and later moved to the United States.

Today, he is one of the most successful businessmen in Ghana. He owns several companies including Net 2 Television, Supercare group of companies, Hollywood shopping center, GOLD COIN COMMUNICATION, REAL ESTATE COMPANY, OMAN F.M, M/S IMPERIAL WORLD BUSINESS LIMITED. and several others.

Top Richest Entrepreneurs in Ghana.

Kevin Okyere

kevin okyere net worth
Richest Entrepreneurs in Ghana 45

Kevin Okyere is a  Ghanaian entrepreneur in the Oil Industry in Ghana. He is the Founder and Chief Executive Officer of Springfield Energy- a billion dollar oil company. The company was founded in 2008.

Kevin is the first indigenous person to have founded a company that owns high stakes in the oil exploration industry .

Springfield controls an 82% interest and operator ship in the block which covers 673 square kilometres in the Gulf of Guinea’s Tano Basin.

He first started his business journey in the Telecom sector. He founded Westland Alliance Ltd a telecoms company that provided international call routing services for AT&T and several international calling card companies. 

Dr papa Kwesi Nduom

Dr. Paa Kwesi Nduom companies
Richest Entrepreneurs in Ghana 46

Many may know Papa Kwesi Nduom only because of GN Bank(now GN savings) but he has more that just that. Nduom has founded more than sixty companies in Ghana.

He owns companies in Sports, Media, finance, printing, insurance, manufacturing, automobile, Energy and more. Check the full list of Papa Kwesi Nduom companies here

Kwabena Darko

Top Richest Entrepreneurs in Ghana.
Richest Entrepreneurs in Ghana 47

Rev. Dr. Kwabena Darko an entrepreneur, minister of religion and former politician.

He started his company the Darko Farms and Company in April 1967.

He owns the largest privately owned agro-industrial concern in Ghana and is listed in “Who’s Who in World Poultry”. Darko is also known by many in the sub-region as the “Poultry King”

Top Richest Entrepreneurs in Ghana.

kwabena kesse

kessben net worth
Richest Entrepreneurs in Ghana 48

Mr Kesse,  is a successful entrepreneur and an astute businessman, is the Chief Executive Officer/Director of the Kessben Group of Companies with over 2,000 employees.

There are ten (10) registered companies under the Group. These are: Kessben Travel and Tours, Kessben Driving School, Kessben Computer School, Kessben Shipping and Forwarding Ltd, Fosua Hotel & Conference Centre, Kessben TV, Aseda TV, Kessben FM, Kessben University College, Kessben Consult and Kessben Foundation. 

He also holds majority shares in Multi Credit Savings and Loans Ltd.

Daniel McKorley

Mcdan net worth
Richest Entrepreneurs in Ghana 49

Daniel McKorley is a Ghanaian business magnate,founder and chief executive officer of McDan Group of Companies.

He started his business life by selling books, today he is counted among the most successful entrepreneurs in Ghana.

He dropped out of University due to financial constraints. He however, obatined the degree 15 years later.

He started the McDan Shipping Company which was established in November 1999, with headquartered in Accra and Branches in Tema and Takoradi.

The company has a presence in over 2000 major air and sea ports worldwide due to a partnership with Universal Freight Organization, Cross Trades and World Cargo Alliance(WCA).

Top Richest Entrepreneurs in Ghana.

Nana Kwame Bediako

Nana Kwame Bediako
Richest Entrepreneurs in Ghana 50

Nana is the founder and chief executive officer of the Kwarleyz Group, encapsulating brands such as Wonda World Estates, Petronia City development, New Africa Construction, Belfast City & Property Management and the New Africa Philanthropic Foundation, while concurrently serving as co-principal of the recently-launched Capital Nine Zero fund.

He has been a successful developer in the Ghanaian real estate space for nearly 20 years, and has designed and constructed over 500 residential and retail units across the nation, in pursuit of a vision to change the face of industrialization in Ghana. 

Kwasi Twum

Top Richest Entrepreneurs in Ghana.
Richest Entrepreneurs in Ghana 51

Ghanaian media baron Kwasi Twum presides over the Multimedia Group best known for bringing the first privately owned radio broadcaster (Joy FM) into Ghana.

Multimedia Group is a media conglomerate in Ghana. It was established in 1994 and operates six major radio stations namely Joy FM, Adom FM, Asempa FM Hitz FM, all in Accra and Luv FM and Nhyira in Kumasi.

The firm has a huge online presence with six news websites and a satellite television network (Multi TV).

Dr. Kwaku Oteng

Top Richest Entrepreneurs in Ghana.
Richest Entrepreneurs in Ghana 52

Dr. Kwaku Oteng owns a chain of businesses in Ghana’s herbal medicines, broadcasting, beverages and transport industries. He is the founder of Angel Group of Companies.

The group has under its umbrella Angel Broadcasting Services Limited, Angel Transport and Trading Limited, Angel Estate and Construction Limited, Angel Natural Mineral Water and Adonko Bitters Limited. 

Top Richest Entrepreneurs in Ghana.

Kwaku Bediako

Kwaku Badiako net worth
Richest Entrepreneurs in Ghana 53

Kwaku Bediako is a contemporary fashion designer. He is the founder of  founder of Chocolate Clothing.

Celebrities such as Steve Harvey, Jamie Foxx, T.I, Cardi B, Jack Dorsey, Nasty C, Mr Eazi, Black Boy of GhOne, Majid Michel, Joe Mettle, M.anifest and Kwabena Kwabena patronize Chocolate Clothing.

Dr. Kwame Kyei 

Top Richest Entrepreneurs in Ghana.
Richest Entrepreneurs in Ghana 54

Dr Kyei is the CEO of a number of business including Unity Oil Company Limited, Light FM, Light TV,Vision1 FM, Sports Hotel and the Sport Recreational Centre and many other subsidiaries.

Unity Oil the biggest of his businesses, which started at Taifa in Accra has several branches nationwide. 

Ibrahim Mahama

Ibrahim Mahama net worth
Ibrahim Mahama net worth

Ibrahim Mahama  is a Ghanaian businessman, and the founder of Engineers and Planners, the largest indigenous-owned mining company in West Africa, and the owner of several other businesses in Ghana.

He is the younger brother of John Dramani Mahama, President of Ghana from 2012 to 2016.

Top Richest Entrepreneurs in Ghana.

Kofi Amoa-Abban

Kofi Amoa-Abban  is a Ghanaian Oil and Gas entrepreneur, and philanthropist. He is best known as the founder and CEO of Rigworld Group, an oil services business with operations across West Africa.

 Dr Samuel Amo Tobbin 

Dr Samuel Amo Tobbin  is the founder of Atinka Media Village

Through his TV channel, Atinka TV, the group launched a dancing reality show, which is regarded as one of the most watched reality TV shows in the country. His other media channels include Atinka FM, Agyenkwa FM, Ahotor FM and Atinkaonline.

Richest Entrepreneurs in Ghana.

Nik Amarteifio

Richest Entrepreneurs in Ghana
Richest Entrepreneurs in Ghana 55

Mr. Amarteifio is the vice chairman (2001- date) of Ghana Agro Foods Company (GAFCO), a pioneer agro-food processing company in Ghana
He is the Founder and Chairman of Omini Media, the owners of Citi FM Radio and citi tv Stations.

He is the Chairman and majority shareholder of Dannex Limited and provides strategic direction for the company in the highly competitive pharmaceutical industry in Ghana.  

ENTREPRENEURSHIP

5 Ways To Plan Your Finances In Your 20s

Elon Musk net worth

Navigating the murky waters of financial planning in your 20s is no easy task. With the economy perennially in a state of flux and debt on the rise, maintaining a healthy financial life has proven to be even more challenging. We spoke to some finance gurus and experts to glean from them the following that could throw ideas and provide some relief:

Read Top 10 Richest Men in Africa

  1. Save. This money is not for immediate use, it isn’t even for foreseeable use. This money is for the long-term, and can be diversified through a number of different investments and unit trusts. These banking faculties ensure that the money you’re putting away is reaching its maximum potential and will serve you well, when the need for it arises. The amount being saved will depend on monthly income and expenses. Increasing this as you progress to each stage of life is recommended and will serve you well when the time comes to reap these rewards.
  2. Budget. Keep track of your monthly expenses and reduce frivolous spending. A detailed review of your expenses in a month can help determine the money you need to cover it. After all essential expenses such as rent or loan repayments, the cost for essential items such as food and toiletries should be calculated next. The last to follow is optional expenses such as eating out or luxury spend. In doing this, it ensures all the important factors are covered while leaving room for the occasional splurge.
  3. Emergency funds. Life can be unpredictable. With this come unforeseen costs. To prepare for this, experts recommend creating an emergency fund. This fund is an accumulation of money that is put away to access should the need arise. It can be used on an unexpected medical emergency or sudden job loss. The creation of this ensures that debt is not incurred and long-term savings are spared. It should be placed in a bank account that is quick and easy to access so the funds are available immediately should you need it.
  4. Assets. Acquiring assets such as vehicles or property is an important investment into the future. Using the finance options available also has its benefits. Creating a positive credit score is important for anyone especially later on in life when business loans may be needed or when opening accounts. While vehicles depreciate quicker, these are assets that can be kept for years at a time and can be used as collateral for a better model when the opportunity arises. Property is also an investment and does not depreciate.
  5. Retirement funds. Time waits for no man and age catches up with us all. This is why saving for retirement is something that should be started as early as possible. Everyone wants to age comfortably. To do this, it means taking the initiative while you’re young. Over and above the pension or preservation fund being accumulated through your job, setting up a retirement annuity is also highly recommended. This ensures that either a lump sum or monthly stipend is received ensuring that you age in style.

Read How Aliko Dangote became the richest man in Africa

Being in your 20s can be exhilarating and terrifying all at once. The events of your 20s are a significant factor in how you approach the rest of your life. The one thing you want to make sure is that your finances are in order. Debt globally is the highest that it has ever been, and the economy is in recession. Preparing now makes sure that you weather the storm. With calmer seas, you’ll reap the rewards instead of being stranded with no lifeline. Let your finances be one of the things you do well in your 20s.

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ENTREPRENEURSHIP

The Key Strategy to Buying Stocks in 2021

how to buy stocks

For investors looking to grow their portfolios these days, here is a hard truth: You have limited options.

In this extended era of low rates, average interest on savings accounts is close to zero. Fixed income is not much better, with 10-year Treasurys offering well below 1%.

That’s not even enough to keep up with annual inflation, let alone grow your savings for a comfortable retirement. That leaves one primary weapon in your arsenal: Equities, or shares in publicly-traded companies.

The stock market

There is more risk involved with buying stocks than with bonds or other investments, but there is also more potential return. Looking through a long-term lens of many decades, stocks are a smart place to be – returning an average of 9.2% a year over the last 140 years, according to data from Goldman Sachs.

Compound that return over many decades of your working life, and you can see why stocks are a core component of most portfolios. They not only offer potential share-price appreciation, but income generation as well, if they provide a dividend (a regular payment to shareholders).

Using a simple growth calculator at Investor.gov, if a young saver chips in $500 monthly and enjoys 7% compounded stock returns over 40 years, that adds up to an impressive $1.2 million.

“With stocks there is a greater potential for reward, which is why they are a core part of most investors’ portfolios,” says Michael Kealy, an education coach with brokerage TD Ameritrade in Salt Lake City. “Historically they have provided returns north of other asset classes. There is more risk on the table – but there are ways to offset that risk.”

How to buy stocks:

Stocks for beginners:

Here are three steps to start buying stocks:

1. Decide between a mutual fund and individual stocks

2. Decide which stocks to own

3. Selling stocks: Consider taxes and risks

1. Funds vs Stocks

So where does a new investor begin in buying individual stocks? If your primary savings vehicle is a company 401(k), you will typically be presented with a menu of mutual funds, which are baskets of large numbers of stocks. (The exception to that rule is stock in your own company, which may indeed be offered within that plan.)

For most investors, mutual funds are the wiser path, since they offer more diversification and less risk. But if you are interested in buying shares in individual stocks, you can certainly do that elsewhere — in traditional or Roth IRAs, for instance, which are retirement accounts that let you select from a wider universe of investment options.

Stock brokers

Or you can trade stocks in a regular taxable brokerage account, at popular online brokers like TD Ameritrade, Merrill Edge, E*Trade or Schwab. Many investors these days are even gravitating towards apps like Robinhood, which appeal to the mobile and tech-savvy mindset of younger savers.

Every brokerage offers its own educational tools, which new investors should take full advantage of.

“Whatever platform you are using, there will be a comprehensive set of research to help you make the most informed decision possible,” says Aron Levine, Bank of America’s President of Preferred and Consumer Banking and Investments. “You have to educate yourself, because you don’t want to pick stocks based on the latest rumor in the news or what you heard in the hallways.”

How to buy stocks online

Before selecting a brokerage, do your due diligence and look into fee structures, like how much they charge you to make a trade. It could be zero — in other words commission-free — at some online brokers, or it could be a modest amount like $15 or $20.

Just keep in mind that if there are fees associated with trading, frequent buying and selling will eat into your overall returns. Even if those costs seem small at first, they can add up in a big way: In fact one well-known study found that frequent traders underperformed the broader market by 6.5%, largely because of trading costs.

Part of that market lagging is that individual investors are just not skilled at successfully timing the market. We react emotionally instead of rationally, buying when stock prices are too high and selling when they are too low. So for most investors, a Warren Buffett-like buy-and-hold strategy is usually the better way to go: Purchase shares in a company you believe in, at a reasonable price, and then leave it alone and watch it grow.

2. How to pick the right stocks

How do you go about deciding which shares to buy? That’s the million-dollar question, and an inherently personal one, to which no one can give you the answer. But two typical schools of investing thought are “growth” versus “value.”

Growth stocks tend to look more expensive when compared to their current earnings, but their future potential as an expanding business justifies the higher price. Think of prominent technology companies, which have typically looked very pricey in recent decades, but have grown by leaps and bounds – and rewarded investors handsomely.

“How much growth is anticipated, should be one of your very first considerations,” says TD Ameritrade’s Kealy. “You want to see future expected earnings that are well above the past, and to find that out you can research earnings estimates from company analysts.

“When looking for attractive investments, one conventional valuation metric is price relative to earnings (P/E ratio): How much share price am I spending, compared to future earnings?”

That’s where the alternate approach of “value” investing can come in. For any number of reasons – like a broader economic slowdown, or disappointing quarterly results, for instance — a stock may be beaten down at the moment, but as a result it is on sale. Snap up that discount, wait for a rebound, and you should be well-positioned for solid returns going forward.

Another key metric to consider is dividend payout. In that way stocks can be an ongoing source of income, especially for those nearing retirement who would like an additional stream of cash in addition to pensions or Social Security. The average yield of S&P 500 stocks is around 1.5%, but if you pick and choose wisely, many companies are offering 3% or more – which far exceeds what most fixed-income products are offering at the moment.

3. Sell stocks

If you do pick a stock winner, congratulations – but just remember that in taxable accounts, Uncle Sam will want his taste. Short-term gains are taxed at ordinary income rates, while longer-term holdings fall under the capital gains rates of 0%, 15% or 20%, depending on income level. There are no capital gains taxes for buying and selling within traditional IRAs, although eventual distributions are taxed as regular income. Roth IRA investment gains are entirely tax-free, since the initial contributions were after-tax.

Another caveat about investing in individual stocks: Even if you are talking about big, well-known companies, there is a fair amount of risk involved here. As we saw during the financial crisis of 2008-9, unexpected events can take down respected and long-standing firms – and if they crash out, your investment can go to zero.

“Especially in the last six months, there has been a big rush into equities, with young investors getting excited by single stocks,” cautions Bank of America’s Levine. “That creates a great deal of risk, because those investments can go rapidly up or down, with nothing to balance them out.”

One strategy to reduce risk can be to limit such speculative stock picking to a relatively small percentage of your portfolio, while devoting the rest to broader mutual funds and other asset classes like fixed income. That overall balance should steady the ship during market storms, and prevent dramatic swings and rash decisions.

You can also try your hand at stock picking by using a practice account, or what is called “paper trading”. TD Ameritrade, for instance, has a platform called Thinkorswim where new traders can get familiar with how the process works, without putting any actual money on the line.

“It’s basically Monopoly money, and you can see what plays out without it being a live account,” says Kealy. “It’s a good way to practice and build confidence, because education is so important for investors who are dipping their toes in for the first time.”

Source: Money

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Richest Woman in Namibia

richest woman in Namibia

Who is the Richest Woman in Namibia

Monica Geingos is the richest woman in Namibia

Monica Geingos is a Namibian entrepreneur, lawyer, and First Lady of Namibia since 2015. She has been a board member and director within many of the country’s large companies. She had also chaired the Presidential Economic Advisory Council.

Read Frans Indongo net worth

Geingos married the then-President-elect of Namibia, Hage Geingob, on February 14, 2015, shortly before he was sworn into office. She has served as First Lady since March 2015.

career

 she was voted one of the 12 most influential people of Namibia, and in 2020 she was in the list of 100 most influential African women. Geingos is a graduate of the University of Namibia, and spent the early part of her career working for the Namibia Stock Exchange (NSX) in Windhoek. Geingos served as Chairman of the Board of eBank Namibia and is the managing director of the financial undertaking Stimulus, and General Director of Point Break.

Richest Woman in Namibia

Monica Geingos is arguably the richest woman in Namibia. She founded the Economy Foundation in 2016.

Read Michael Amushelelo net worth

Promising to give away all her wealth – estimated at $3 million – to charity when she dies, Monica Geingos is on a mission to change the image of African first ladies and tackle sexism and inequality in Namibia, the world’s second most unequal country.

Geingos married Hage Geingob on Valentine’s Day in 2015 – a month before he was sworn in as president of the southern African desert nation, which gained independence from apartheid South Africa in 1990 but remains starkly unequal.

The couple then voluntarily declared their combined assets of some 110 million Namibian dollars ($7.44 million), a popular move in a continent where politicians and their wives, like Zimbabwe’s Grace Mugabe, grab headlines over unexplained riches.

About 6% of Namibia’s 2.5 million people are white. They dominate businesses and land ownership, a legacy of German and South African colonial rule, along with a growing black elite.

Read Richest Man in Namibia

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