Why Ghanaian businesses don't last – Founder of A&C explains

The Founder of the A&C mall, Andrew Asamoah, has decried the attitude of Ghanaians that kills businesses untimely.

According to him, business owners do not actively involve their children and/or relatives in their businesses, especially in developing a roadmap that ensures that the business continues running even when the owner passes on.

“Why is it that when a Ghanaian dies his businesses die with him? When you go outside the country, some businesses have been there for 100 years, 50 years, 200 years. We need to be able to sustain our businesses, that is the only way we can build this country.”

He added that currently, his children are managing the affairs of the mall whiles he monitors behind the scene. Even though it was not an easy thing to convince his children to buy into the idea of leaving abroad to help take care of AnC, he noted that he was finally able to make them come to Ghana.

Dr. Asamoah shared the story about how he had to sell his properties abroad to build Ghana’s first mall. According to him, some of the challenges he faced when he came to Ghana were high-interest rates and the doubts that building a mall in Ghana was impossible.

He said, “There were a lot of teething problems including the difficulty to raise the money and the high-interest rates they were charging.”

SSD/FNOQ



Watch the latest edition of BizTech below: