Chief Executive Officer and sole shareholder of Dzata Cement Limited, Ibrahim Mahama, has reaffirmed his belief in the ability of Ghanaians to establish and own large-scale businesses without relying solely on foreign companies. Speaking at the 5th anniversary celebration of Dzata Cement, Mr Mahama said the establishment of the cement manufacturing company was partly motivated by his desire to challenge the perception that Ghanaians could not build and operate a cement plant.
Mr Mahama recounted how his earlier experience as a cement transporter and mining contractor inspired him to venture into cement manufacturing. He said while transporting cement, he once followed his trucks to Ghacem in Takoradi and took the opportunity to observe how cement was produced. After examining the operations, he said he became convinced that establishing a cement manufacturing plant in Ghana was achievable.
Mr Mahama subsequently travelled to Germany, where he engaged equipment manufacturers as he worked towards establishing the plant. He also secured financing from banks to support the project. According to him, the construction and installation of the plant were, however, met with significant financial and operational challenges. He said the project eventually received crucial support from his younger brother and others, who helped with the completion of the equipment installation.
The businessman acknowledged the contribution of distributors who supported Dzata Cement during its early stages, particularly at a time when the company faced difficulties raising funds to clear imported cement. He said the distributors rallied behind the company and helped ensure that the cement could be distributed to the market. This support was crucial in helping the company to start operations.
Mr Mahama expressed appreciation to former Trade Minister Alan Kwadwo Kyerematen for his support for the project during the administration of former President Nana Addo Dankwa Akufo-Addo. Mr Mahama said the former minister played an important role in supporting the establishment of the company. He thanked Mr Kyerematen for standing behind the company during its formative stages.
The fifth anniversary celebration of Dzata Cement served as an opportunity for Mr Mahama to reflect on the journey of the company, the challenges encountered in establishing the plant and the support received from individuals and business partners. He reiterated his commitment to demonstrating that Ghanaian entrepreneurs can take on major industrial projects and build businesses capable of contributing to the country’s economic development.
Mr Mahama emphasized that there are other ventures he wants to undertake to prove that Ghanaians can be more than just employees of foreign companies. He said Ghanaians must be willing to take on ambitious projects and demonstrate that local businesses can compete in industries traditionally dominated by foreign companies. This, he believes, is crucial in helping to build a strong and sustainable economy.
Key points
- Ibrahim Mahama's Dzata Cement Limited is an example of a large-scale business established and owned by a Ghanaian entrepreneur.
- Mr Mahama's experience in cement transportation and mining contracting inspired him to venture into cement manufacturing.
- The company received support from distributors, his younger brother, and former Trade Minister Alan Kwadwo Kyerematen during its early stages.
