Andrew Asamoah: Businessman Recalls How He Sold His Properties in UK and US to Build A&C Mall, Peeps React

• Businessman Andrew Kwabena Asamoah recalled selling his luxury properties to build the A&C Mall
• In an interview, he recounted the mountain of financial challenges he overcame before starting the building
• The Twitter video of his interview, shared by blogger @SIKAOFFICIAL1, has inspired many online viewers

Ghanaian business owner and entrepreneur Andrew Kwabena Asamoah has recounted how he had to sell his luxury properties to build the A&C Mall in Accra.

In an interview with media personality Akosua Dentaa Amoateng MBE, best known as Dentaa, Asamoah said he took that action because he could not afford the high-interest rates banks were charging for loans then.

Asamoah struggles to secure a bank loan

The business owner admitted that there were some teething troubles when he was putting the mall together.

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''... The banks did not believe this would work because it was the first time. So, they never thought this European mall would work in Ghana. One of the bankers told me that our mall is the Makola Market here''

''Raising the money was difficult because of the interest rates. I decided to take a risk and sell my properties abroad. I had a home in London, Geneva, and property in the US, and I had to sell everything to raise money,'' he recounted.

Building the A&C Mall

Asamoah went on to say that even after selling his properties, he couldn't start the project utilising his master design due to the cost.

"I had a master plan but had to build in phases. We first concentrated on the main mall to get the tenants in before we completed the other phases.

''It took us about 10 years to get A&C Mall, as you see it. We went further to invest in solar. A&C Mall is the only mall in West Africa fully powered by solar,'' he claimed.

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The businessman said the A&C Mall uses electricity as a backup, but the mall generates 99 per cent of the facility's electricity needs.

The video of his interview was posted on Twitter by blogger @SIKAOFFICIAL1, which received reactions from netizens.

Watch the video below:

Peeps inspired by Asamoah

YEN.com.gh selected some of the reactions for your reading.

@OccanStephen said:

It's always about travelling abroad and making money first. Chale the capital and assets dierrr ebe abroad oo.

@Dani_Brempong commented:

Not always, bro. We can make it here.

@KelvinArsenal91 said:

Charlie! This is determination, belief, hard work and, above all, the doing of the Lord. God bless this man.

@_KOFI reacted:

So he was rich before good others say they started with one bag of cement.

@Yawmas posted:

At least he didn't say he started with 1 cedis.

@Recognize said:

Impressive.

Kwame Despite and 10 Ghanaian multi-millionaires and how they made their wealth

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In a previous story, YEN.com.gh reported that Ghanaian business owners enjoy political stability, peace, and a diversified economy with plenty of room for investors.

Some have made a name for themselves through lucrative endeavours that have significantly increased their societal wealth. These millionaires are reaping enormous profits in various sectors, including media, banking, real estate, oil and gas, manufacturing and many more.

YEN.com.gh has compiled 10 Ghanaians known to be millionaires whose fortunes come from their ability to explore different sectors of the economy.

Source: YEN.com.gh