Osei Kwame Despite, Ernest Ofori Sarpong And 3 Other Ghanaian Businessmen Who Moved From Poverty To Millionaires

Here are some five Ghanaian businessmen that moved from poverty to millionaires due to their consistent hard work.

Some entrepreneurs in Ghana came from modest backgrounds, but they have used the country’s stable climate to launch and expand their businesses.

Names like Dr. Osei Kwame Despite, Dr. Papa Kwesi Nduom, Dr. Ernest Ofori Sarpong, Kennedy Agyapong, and Dr. Kwaku Oteng are known to have come from humble beginnings but are now flourishing as some of the most successful businesspeople in the nation thanks to their tenacity, originality, and hard work.

Role models for start-up companies and entrepreneurs, these millionaires and businessmen emerged from poverty after building business empires.

Ghanaeducation.org has listed five businessmen from Ghana who built their own companies and were able to escape poverty.

1. Dr. Osei Kwame Despite (Despite Media Group)

Dr. Osei Kwame Despite, better known as Despite, founded the prosperous Despite Group of Companies, which includes media and real estate businesses.

He was born into a poor family, but he never gave up on his aspirations. He was forced to drop out of school at a young age to help his family.

He persisted nevertheless, and the result was a successful corporate organization. The Wiamoase native of Agona in Ghana’s Ashanti Region began as a part-time merchant in Dunkwa Offinso, selling anything from padlocks and feeding bottles to music cassettes.

The Despite Company Ltd has media businesses, including PEACE FM, the country’s largest and most well-known FM station; OKAY FM, NEAT FM (all in Accra); and HELLO FM in Kumasi.

Despite this, he also owns and operates NEAT FOODS LTD., a company that converts plantain, cocoyam, maize, and palm fruits into ready-to-eat processed foods. The millionaire owns luxurious residences and cars all across the country.

2. Dr. Kwaku Oteng (Angel Group of Companies)

Angel FM, Adonko Bitters, Angel TV, and Angel Educational Complex are only a handful of the enterprises managed by the Angel Group of Companies’ founder and CEO.

He is well-known for his financial skills and has acquired a fortune in the millions of dollars. In a previous interview, Dr Kwaku Oteng, who was born into poverty, disclosed the key to his success and described how paying his tithe has helped him become wealthy. According to Dr Kwaku Oteng, he followed his pastor’s advice and soon acquired a fortune.

3. Dr. Paa Kwesi Nduom

As of 2022, Dr. Papa Kwesi Nduom, also known as Joseph Hubster Yorke Junior, has launched more over 65 firms and businesses, including the failing GN Bank.

He formed Groupe Nduom, a commercial conglomerate encompassing banking, pensions, insurance, hospitality, media, and real estate operations in Ghana, Liberia, Togo, and the United States. Nduom’s tale is one of perseverance and tenacity.

He was raised in a modest fishing community and struggled to earn an education. He earned his doctorate in service delivery systems at the University of Wisconsin-Madison.

4. Dr. Ernest Ofori Sarpong

Nonetheless, Dr Sarpong pursued his ambitions and built a rich economic empire. He established the real estate and construction firm SPECIAL INVESTMENTS LTD.

They created the United 2 Co. Ltd, a holding company for the 600-acre salt mining firm and refinery at Winneba in the Central Region, with Dr Osei-Kwame (also known as Despite), a personal friend of Dr Sarpong.

They also worked together to develop the television channel UNITED TELEVISION (UTV Ltd.), which is now one of the top stations in the country.

Dr. Sarpong established the mineral water company SPECIAL ICE LTD., which operates two plants in Accra and Kumasi.

5. Honorable Kennedy Ohene Agyapong

Kennedy Agyapong is the owner of the Kenpong Group of Companies, which includes mining, oil, gas, and real estate firms.

He was raised in poverty and was forced to drop out of school at a young age. He never gave up on his aspirations, though, and through hard work and persistence, he developed a profitable business empire.

The millionaire stated that he acquired his fortune by organizing the 1987 USA immigration lottery. According to him, the revenues enabled him to invest in other areas of interest. He stated that he obtained his first capital through an amnesty scheme.

READ ALSO: Checkout The Meaning Of GW, AS, GT, CR, Etc On Vehicles’ Number Plates In Ghana