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The Big Money League: List of companies owned by Ibrahim Mahama, Kennedy Agyepong & Dr Nduom



In the past few years, we have seen several lists for ‘Richest Ghanaians’ being published online, including one that was published by a certain Forbes Ghana (yes laugh out loud!). Usually these lists have no real basis for compiling the net-worth of Ghanaians but go ahead to do so based on perceptions of what people should be worth.  My late father once told me that Ghanaians will for a long time find it difficult to let people know how much they are worth due to historical events. Apparently, there was a time that it was criminal to have more than one water closet in your house, and people were prosecuted based on that. (Did you also hear of such stories while growing up, if so share them) Anyway, some names keep coming up whenever there is a list for rich Ghanaians. I have compiled a list of companies owned by three such men from reports online (and hopefully they are credible).  They include Ibrahim Mahama, brother of former president, John Dramani Mahama; aspiring president, Dr Papa Kwesi Nduom; and Kennedy Agyepong Member Of Parliament For Assin North. 

Ibrahim Mahama

Micheal Ibrahim Mahama, the half-brother of John Dramani Mahama is a very successful businessman with businesses across various sector from mining, construction and poultry to real estate. He is on record to have said he employs over 5,000 people and has plans of expanding his empire to include cement manufacturing. According to NsromaMedia, his companies include: Engineers And Planners Engineers and Planners Company Ltd, a wholly Ghanaian owned company with close to 20 years experience and specialized in the management and hiring of heavy duty plants, equipment and machinery, haulage, oil and gas, land reclamation and restoration, dam construction and mining is now operating in four countries: Ghana, Liberia, Sierra Leon and Congo Brazzaville and hope to expand further to other countries including the Gulf region. Ibrahim also has the mining concessions and contracts to mine on behalf of multinational mining firms in West Africa. Asutsuare Poultry Farm Ibrahim also owns a poultry farm. The Asutsuare Poultry Farm produces over 150,000 eggs per day and capable of producing 10,000 live chicks in a day. MBG Ltd MBG Ltd. is located in Tema, Ghana deals in the sale and rental of heavy duty vehicles and spare parts and has the following in the garage. 20 dump trucks @ US$2.5 million each 5 excavators @ US$5 million each 70 small dump trucks @ US$650,000 each 40 bulldozers @ US$1.3 million each 120 tipper trucks @ US$200,000 each. ArcelorMittal Connections Ibrahim does not own ArcelorMittal but in Sierra Leon and Liberia  his company works in partnership with the company which is the world’s largest steelmaking company. Engineers and Planners have also been contracted by Messrs Arcelor Mittal to provide mining services at their iron ore mining site at Yekepa in Northern Liberia. This project includes civil engineering works for installation of an iron ore processing plant and construction of a tailings Dam.

Kennedy Agyepong

Hon. Kennedy Agyepong is the MP for Assin North in the Central Region. The outspoken, no-nonsnese politician is known to be rich and has even made claims to sleeping in  bed worth $80,000. He has a vast empire in terms of companies and NsromaMedia  confirmed the following: Oman F.M Ash F.M Net 2 TV Super Care Company Limited (Air Conditioners Dealer) Mina D’oro Ventures M/S Imperial World Business Limited. The National Newspaper Gold Coin Communication Real Estate Company

Dr. Papa Kwesi Nduom

Ghanaian serial entrepreneur and politician, Dr. Papa Kwesi Nduom revealed how he lost $2 million in on day, in the April edition of the Forbes Africa Magazine. Dr. Nduom’s remarkable achievements in business in Ghana for almost four decades where he has successfully built Groupe Nduom with over 60 businesses under its portfolio. Dr. Nduom’s businesses have not been been a secret in Ghana so lets count them from 1 to 65. 1.Coconut Grove Hotels (Miners lodge at Obuasi, Regency in Accra, Bridge House in Elmina, Beach Resort at Elmina and two new ones coming up at Sakumono and Wa) 2. GN Bank (260 branches in Ghana, Ivory Coast, Antigua, Zimbabwe, Pueto Rico, Saint Kitts-and-Nevis, USA, Togo, Benin and Liberia) 3. GN Quarry 4. GN Printing Press 5. Digicut (Advertising and PR Consult) 6. Spider Lee Entertainment 7. Monica Yorke Preparatory School at Elmina (Best Basic School in KEEA) 8. AFR 9. Qualtek (ICT) 10. Gold Coast Fund Management (20years of experience) 11. Yorke Properties (Real Estate) 12. GN Re-Insurance (Best in the industry which started with an initial capital of Ghc 80million above the minimum requirement of Ghc 40million) 13. GN Health Insurance 14. GN Life Assurance 15. Ghana Growth Fund Ltd 16. Ahomka Fm (Elmina) 17. Enyidado Fm (Awutu) 18. Agoro Fm (Berekum) 19. Golden Pod (Sefwi Juabeso) 20. Okyeman fm (Akim Oda) 21. Gold Coast Brokerage 22. Sterlin Management Services 23. Sterlin Protection Services 24. Today Newspaper 25. ATV 26. BTA 27. First Digital TV 28. Fresh Pak (Manufacturing) 29. Elmina Sharks (Football) 30. Hedjorl3 online radio 31. EPPL (Manufacturing) 32. Pentrust (Pensions) 33. GN Power (Alternative Power Generation) 34. GN Finance 35. GN Asset Management and Protection 36. Ghanaian Journal (Online newspaper) 37. Kasapreko Fm (Wassa Akropong) 38. Ghana Media Consult 39. Oceean1 Tv (Elmina) 40. Light Fm (Aflao) 41. Nduom University (Elmina-Komenda-Takoradi Highway) 42. GN Microinsurance 43. Wa Fm (Wa) 44. GN Research 45. Institute for Progressive Research & Advocacy (IPRA) 46. GN Farms (Brong Ahafo, KEEA and Western Region) 47. LEDFC (Liberia Enterprise Development Fund Company) 48. GN Foundation (Scholarships) 49. GN Hospital (Dr Edjah Nduom and Dr Aba Nduom, both children of Dr & Mrs Nduom (Neurosurgeon and Medical Doctor respectively), together with other specialists and researchers are working on an ultra-modern GN Hospital at Elmina with satellite clinics in all 10 regional capitals. 50. GN Projects 51. GN Logistics (Bulk storage, courier, procurement, warehousing etc) 52. GN Electronics (Assembling of LCD TVs and decoders) 53. Nduom Sports Stadium (Elmina) 54. GN Concrete Products (Elmina) 55. GN Autoshop (Vehicle Assembling) 56. IBS (USA) 57. Sea Lions (Female football team) 58. Ahomka radio (UK) 59. GN Legal 60. Adehyi3 Fm (Bibiani) 61. GNHR 62. GN Microenterprise Business 63. GN Ambulance Brigade 64. Suhupieli FM (Tamale) 65. ISF Bank (Chicago)]]>