A Paradigm shift in wealth creation in Ghana

--Lessons at the feet of the masters!

It is estimated that approximately ninety percent of all business units in Ghana are made up of Small and Medium scale Enterprises (SME’s) who absorb an incredible sixty percent of the national workforce! However, SMEs and MSME’s contribute relatively insignificantly to the Gross Domestic Product of the country. This disparity stems from primarily two major factors which accelerate the failure of most businesses-a lack of financial support and inadequate business management capacity. Many developing countries are termed as such because of the vibrant private sector which contributes a chunk of national earnings. There is thus the need to continually nourish SME’s and MSMEs in Ghana with the requisite knowhow on how to nurture and grow their businesses in a legally acceptable framework.


I must quickly say that if you were not at Awesome Ventures [the producers of Masem TV show]’s “Business Growth Seminar” then you have lost one of the most productive and life changing days of your life! This was a seminar made in Ghana for Ghanaians; with a wealth of resource Persons who are fabulous entrepreneurs in Ghana; have seen it all and are willing to invest their experiences in the youth who are vital to the development of Ghana. Present at this single event were Chief Executive Officers and top management from diverse industries; from, Mr. Akenten Appiah Menkah-Chairman Appiah Menkah Complex who delivered a guest presentation under the theme: Private Enterprise –Constraints and potentials, Mr. George Andah-Chief Marketing Officer MTN who charged all in attendance to lift their game by June 2010, Dr. Agyekum Addo-CEO Kama group and Mrs. Grace Amey-Obeng-CEO FC Group! The programme was further supported by Nana Owusu-Afari-CEO of Afariwaa Group, Mr. Torgbor Mensah-Chairman Argon Group, Nana Odeneho Kyeremanteng-CEO Comet Properties, and Mrs. Bertha Ansah Djan-CEO Pergah Transport. Other distinguished persons were Mr. Kwasi Oppong-CEO Kwasi Oppong limited, Dr. Yaw Adu Gyamfi-Chairman Dampong Group, Mr. Asare Adjei-CEO Asadtek, and Nana Kwaku Siaw-CEO Kumah Farms.


As the programme accelerated, speaker after speaker confirmed that entrepreneurship was inevitable in National development and sustainable wealth creation. One fascinating fact which left most participants beside themselves with astonishment was the realization that what was in short supply in Ghana was not necessarily the monetary capital to start a business but the effective use of intellectual capital [critical thinking, analysis, and observational skills] in identifying opportunities, seizing them, and finding innovative ways of making these opportunities productive. Participants who were largely constituted of youths from all ends of Ghana were charged to view wealth creation as the result of a job well done and not the reverse! The importance of hard work and tenacity was central in most submissions.


Ghana is pregnant with numerous wealth creation opportunities waiting to be tapped; however, often many of such opportunities are left untapped by especially the youth who would rather prefer going to seek so called greener pastures in unknown lands-forgetting that the grass is greener where you water it! Participants were further encouraged to reorient themselves from the white collar job mentality which is not a sustainable vehicle of wealth creation. As Mr. Akenten Appiah Menkah rightly expressed; working to facilitate someone’s dream in his company all your life is perpetual servitude! Ghanaian youths were charged to take their destiny into their own hands and create sustainable business which would be their contribution to Ghana and posterity.


What’s more, participants were taken through three important training topics under the tutelage of one of Ghana’s leading trainers and consultants-Mr. Larry Attipoe. Topics discussed were, Characteristics of the Growth Oriented Entrepreneur, growing a business in a challenging environment, and identifying and selection of growth oriented business opportunities.

To further boost the entrepreneurial drive of the numerous youths in attendance, participants were introduced to the LIFT Your Game Growth Competition [www.liftyourgamegh.com] which is aimed at showcasing and grooming budding entrepreneurs in a thirteen week reality Television show which would commence with a three week intensive training for thirty shortlisted businesses. Incredible prizes like injection capital, free internet connection and business communication solutions and a host of others are at stake for the five finalists-certainly a win-win situation!


This invaluable programme was sponsored by MTN [title sponsor], Private enterprise foundation, Daily Graphic, and DDP.


Every one present at this event no doubt was transformed in ideology from dependence to wealth creation! It was no wonder that one participant asked when another of such seminars would be held right in the middle of proceedings! Congratulations to the organizers of this year’s Business growth seminar [Awesome Ventures Limited] and all the invaluable resource persons who challenged Ghanaian youths to be the very best they can be. This event was surely a business potential unleashing experience.


By: Henrietta Aba Lartey


Email:henritalartey@yahoo.com