INTERVIEW WITH WBM 2019 Awards winner
"Passion drives me, and the love for humanity and country "
Tell us about your background and what first attracted you to finance and investing?
I am a trained ACCA Accountant. On what attracted me to Finance; was the fact that an old lecturer advised I take on entrepreneurship when I come down to Ghana after my course in the UK. My neighbors were approaching me to unofficially lend them money. I saw this as an opportunity and registered a business to officially start lending money to those interested. This led to the establishment of my first company QUICK CREDIT.
On Investment, having gone through several challenges in the quest to accessing funds to start off my business, I wanted to help young people with similar business dreams that would not have to go through the hustle just to acquire funds for businesses and projects that will in the long term help the Ghanaian economy.
What is your mission ultimately; what drives you to do your line of work?
My mission is to change the Ghanaian entrepreneurship narrative. Supporting young entrepreneurs by empowering them through talent funding to improve the economy and create the all important jobs needed in the country. Passion drives me, and the love for humanity and country.
"Once you acknowledge and respect your staffs and manage them with love, you naturally win and inspire them."
Quick Credit is phenomenally successful with over 30,000 clients. Tell us about its journey to this point?
Quick Credit started with 2 staff and 1 branch. Having worked within the micro-credit space, we wanted to be different by serving Ghanaians even better. Our loans therefore were devoid of guarantors and collateral which made it easier for the small and medium businesses that could not save or invest before accessing loans .This increased our subscriber base. Our clientele base keep increasing to date.
Quick Credit has 25 offices and Quick Angels works with many startups - how do you control so many spinning parts?
Respect and love for my staff. Once you acknowledge and respect your staffs and manage them with love, you naturally win and inspire them.
This helps them to manage the business even better.
What business advantages do you in Africa that you would perhaps not have in other regions like Europe or the USA?
In Europe and US the competition and the standard is very high compared to the developing continent like Africa. Hence, with little capital and a little effort one can make a significant impact on society in a way that will not be possible in developed economies.
Beyond the capital, what other ways do you add value to companies you invest in?
Because our focus is to finance startups and businesses at their early stage, most of the entrepreneurs are young and inexperienced. Hence we have put together a team of experts in diverse fields to help them navigate their path successfully. Our experience, networking and expertise is always at their disposal.
"In Europe and US the competition and the standard is very high compared to the developing continent like Africa. Hence, with little capital and a little effort one can make a significant impact on society in a way that will not be possible in developed economies."
Ghana is a vibrant and dynamic economy, what factors are behind its exemplary success?
The stability of Ghana’s economy and democracy for almost 2 decades is a major contributory factor to the current state of the economy.
The younger generations have also become more enlightened and have begun demanding for a better economy and performance from their leaders. As regard the ingredients required for success; the Government's continuous effort to provide an enabling environment for businesses to thrive will continue to bring success.
What do startups in Ghana and Africa need from their Governments in order to compete more strongly globally?
I believe that the following are important actions that Governments anywhere can implement to support startups to grow and enrich the economy:
- An enabling environment for start ups.
- Subsidies from the governments.
- Adequate tax exemptions for startup businesses.
- Leading role in acquiring new technologies to support startup companies to become efficient and competitive.
- Public private partnerships.
- Favorable policies to promote export and lead the way to open up other international market to local entrepreneurs.
Are you interested to collaborate with fellow business leaders across the globe?
Yes. I have always been interested in collaborations. Our continent is the next emerging market. I will therefore welcome the opportunity to team up. I believe coming together is success and when we team up we win big together.
You recently won the Ghana 40 under 40 Award, and our 2019 CEO of the Year Award. What do these mean to you?
It feels great to be recognized for your hard work and the impact it comes with. It inspires and gives me the urge to continue to contribute my quota for a greater good. And with this I owe it all to my employees who continuously exhibit their relentless effort towards the growth of my business.
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