Osei Kwame Despite, Kennedy Agyapong And 3 Other Ghanaian Businessmen Who Moved From Poverty To Millionaires
- Most Ghanaian businesspeople started their brands with little but have since become some of the most prosperous in the nation
- Dr Osei Kwame Despite, Dr Papa Kwesi Nduom, Dr Kwaku Oteng and Kennedy Ohene Agyapong were born underprivileged but have managed to rise from poverty
- YEN.com.gh features a list of five successful Ghanaian businessmen who overcame poverty by creating their now-thriving enterprises
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Some Ghanaian businesspeople were born into families without a great deal of wealth but have taken advantage of the nation's stable environment to start and grow their brands.
Names like Dr Osei Kwame Despite, Dr Papa Kwesi Nduom, Dr Ernest Ofori Sarpong, Kennedy Agyapong and Dr Kwaku Oteng are known to have had modest beginnings but are now thriving as some of the most successful businessmen in the country due to their perseverance, creativity and hard work.
These businessmen and millionaires rose from poverty after establishing business empires, making them role models for emerging businesses and entrepreneurs.
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YEN.com.gh has compiled a list of five Ghanaian businessmen who were lifted from poverty after building their own businesses.
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1. Dr Kwame Despite, founder of the Despite Group of Companies:
Dr Osei Kwame Despite (also known as Despite) established the successful Despite Group of Companies, including real estate and media enterprises.
Despite being born into poverty, he never gave up on his dreams. He had to leave school at a young age to support his family. However, he persisted and created a prosperous business group.
The Wiamoase native of Agona in Ghana's Ashanti Region started as a small-time trader in Dunkwa Offinso, selling everything from music cassettes to padlocks and feeding bottles.
Being confident that he would make it, Despite never seeing himself as achieving the success he has today.
"God has made everything possible. Though I had dreams, I never dreamed I would reach this far," he reportedly said.
The Despite Company Ltd has subsidiaries in the media sector, including PEACE FM, the biggest and most well-known FM station in the nation; OKAY FM, NEAT FM (both in Accra), and HELLO FM in Kumasi.
Despite also owns and runs NEAT FOODS LTD., a business that transforms plantain, cocoyam, maize, and palm fruits into processed foods for ready consumption. The millionaire owns fancy homes and luxury cars across the country.
2. Dr Kwaku Oteng, owner of the Angel Group of Companies:
Angel FM, Adonko Bitters, Angel TV and Angel Educational Complex are just a few of the businesses that the founder and CEO of the Angel Group of Companies oversees. He is well known for his business acumen and has amassed millions of fortune.
Dr Kwaku Oteng, born into poverty, revealed the key to his success in a past interview and explained how paying his tithe has helped him become wealthy.
''I can remember that about 20 years back, I had never made money that exceeded a million cedis. Whenever I got between GH¢80 and GH¢100, I would fall sick and use the money to cure myself. By the time I got well, the money would have finished; then I’d get back to work,'' he had said while speaking on Angel FM, a radio station he owns.
''So, I approached my pastor with my issue and he asked me to pay my tithe appropriately because if I did, within six months, I could make up to three million,'' as quoted in the B&FT.
According to Dr Kwaku Oteng, he obeyed his pastor's words and before long, he made huge sums of money.
3. Dr Papa Kwesi Nduom founded the Groupe Nduom, a conglomerate that includes banking, insurance, real estate and media companies:
Dr Papa Kwesi Nduom, also known as Joseph Hubster Yorke Junior, had founded over 65 companies and businesses, including the troubled GN Bank, as of 2022.
He founded Groupe Nduom, a business group in Ghana, Liberia, Togo and the USA with its banking, pensions, insurance, hospitality, media and real estate companies.
Nduom's story is one of determination and grit. He grew up in a small fishing village and worked hard to get an education. He has a doctoral degree in Service Delivery Systems from the University of Wisconsin-Madison.
4. The Ghanaian businessman Dr Ernest Ofori Sarpong established Special Ice Company:
Dr Ernest Ofori Sarpong established the Special Ice Group of Companies and is a major player in Ghana's food and beverage market. He had to put in a lot of effort to establish his business with his own resources because he was raised in a family without much wealth.
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Nevertheless, Dr Sarpong pursued his goals and established a prosperous commercial empire. He founded the real estate and construction company SPECIAL INVESTMENTS LTD.
Along with Dr Osei-Kwame (also known as Despite), a close friend of Dr Sarpong, they founded the United 2 Co. Ltd, a holding company for the 600-acre salt mining company and refinery at Winneba in the Central Region. The pair also collaborated to establish the television station UNITED TELEVISION (UTV Ltd.), which is currently one of the top TV stations in the nation.
Dr Sarpong founded the mineral water company SPECIAL ICE LTD., which has two factories in Accra and Kumasi.
5. Kennedy Ohene Agyapong is renowned for his role in Ghana's business and political sphere:
Kennedy Agyapong owns the Kenpong Group of Companies, including mining, oil, gas and real estate companies. He grew up in poverty and had to drop out of school at a young age.
However, he never gave up on his dreams and built a successful business empire through hard work and determination. The millionaire revealed that he made wealth when he coordinated the 1987 USA visa lottery.
According to him, the money he got from the proceeds helped him to invest in other interests. He said he made his first capital through an amnesty programme.
Speaking to Adom News, Mr Kennedy Agyapong disclosed that by age 30, he owned nine houses in the country.
''[In 1987, I coordinated the American Visa Lottery in Ghana and sent 2,500 people to the US the following year. I earned about US$55,000 on that venture],'' he said.
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Separately, YEN.com.gh reported that a social media user, Amb. Dr Ben Bonarparte, who could not further his education after junior high school, inspired many with his modest beginning and success story.
The founder of Bonabear Foundation Ghana and Commissioner at SMM IHRC Ghana detailed how he overcame some challenges before making it in life.
He recounted how his childhood ambition to become a medical doctor was dashed due to financial constraints.
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Source: YEN.com.gh
