Former President John Dramani Mahama has emphasized the importance of succession planning for Ghanaian businesses, urging entrepreneurs to build companies that can thrive beyond their founders. He made this statement during a visit to Kasapreko Limited, a Ghanaian company that has successfully transitioned leadership to the next generation while expanding its operations. Mahama cited Kasapreko as a model for Ghanaian enterprise, highlighting its ability to grow and remain competitive despite the retirement of its founder.
Mahama noted that the collapse or decline of many Ghanaian-owned businesses after their founders retire or die remains a challenge to the development of a strong local private sector. He commended Kasapreko for its growth, expansion, and increasing presence in international markets. The company has successfully listed on the Ghana Stock Exchange, raising GHS 700 million to invest in its new factory at Adiamso. Mahama expressed confidence that this expansion will lead to the creation of more factories and employment opportunities for Ghana's youth.
During his visit, Mahama encouraged Ghanaian business owners to create structures and systems that will enable their enterprises to remain productive and competitive after the founders have exited. He stressed that such continuity is crucial for developing strong indigenous companies capable of creating jobs, generating wealth, and contributing significantly to national development. Mahama also highlighted Kasapreko's transformation from a relatively small Ghanaian business to an enterprise operating multiple production lines, serving both domestic and international markets.
Mahama attributed the improved investment environment in Ghana to fiscal discipline, efforts to stabilize the economy, and measures to create space for the private sector. He noted that interest rates have fallen significantly, with financing rates decreasing from 32% to 9%. This development has led to increased foreign direct investment (FDI), rising from $624 million in 2024 to $2.62 billion in 2025. Mahama encouraged Ghanaian businesses to take advantage of this improving economic environment to expand production.
The former President linked the development of indigenous industries to the government's 24-hour economy initiative, which aims to increase production, promote industrialization, and create jobs through additional shifts and expanded economic activity. He expressed confidence that Ghanaian businesses can compete globally when they invest in production, innovation, effective management, and long-term institutional development. Mahama's visit to Kasapreko was part of a tour of selected companies, including Nestle Ghana Limited and Three Dreamers Manufacturing.
Mahama's comments on succession planning and long-term sustainability come as a call to action for Ghanaian entrepreneurs. He emphasized that building institutions rather than businesses that depend solely on their founders is critical for the growth and development of the local private sector. By adopting this approach, Ghanaian businesses can ensure their survival and success beyond the tenure of their founders.
The growth of companies like Kasapreko demonstrates the potential of local businesses when given the opportunity to grow. Mahama's visit to the company 11 years ago revealed a relatively small Ghanaian business, which has since expanded its production from three lines to eight, serving both domestic and international markets. The company's successful listing on the Ghana Stock Exchange and its plans for further expansion serve as a model for other Ghanaian businesses.
Key points
- Former President John Dramani Mahama has urged Ghanaian entrepreneurs to focus on building businesses that can survive beyond their founders.
- Mahama cited Kasapreko Limited as a model for Ghanaian enterprise, highlighting its successful transition of leadership and expansion of operations.
- The former President attributed the improved investment environment in Ghana to fiscal discipline, efforts to stabilize the economy, and measures to create space for the private sector.
