Ghanaian multi-million business owner recounts how he started with just GH¢250

Kofi Amoa-Abban, CEO of Rigworld Group, delivered a poignant tribute to his late mother, Letitia Amoa-Abban, during her burial service on 26 October 2024, disclosing that the seed capital for his flourishing company, Rigworld Oil, originated from a loan of GH¢250 that she provided.

Reflecting on a defining moment in his life, Amoa-Abban recounted an evening when he approached his mother in Tema, armed with just GH¢50 and a vision of starting his own business. “I told my mum that ‘Mum, I have a dream of establishing a company but I don't have money. I need a favour. I want you to loan me capital that will turn up with your planet to incorporate the company,’” he shared.

Despite facing financial constraints, Letitia Amoa-Abban encouraged her son to return later that evening. To his surprise, when he returned, she had managed to gather GH¢250 for him. “So, my mum told me to just be in the neighbourhood and that I should come back after 6 pm. When I went back, lo and behold my mum had GH¢250 cedis for me. The following day, I went to incorporate a company called RigWorld. This company was born with seed money from my mother. God bless you, Maame,” he said.

Since its inception, Rigworld International has transformed from a modest startup into a major player with multiple subsidiaries across diverse sectors and countries. Amoa-Abban credits this remarkable growth to his mother’s unwavering faith and support for his entrepreneurial vision.

His story echoes that of Samuel Amo Tobbin, the founder and Executive Chairman of Tobinco Group of Companies. Tobbin recently shared his journey of starting a pharmaceutical business with just GH¢1, highlighting the humble beginnings that led to his significant success in the industry.

In an interview with Zionfelix, Tobbin explained how a local Muslim named Alhaji Baba introduced him to the pharmaceutical field. “Selling medicine was introduced to me by a Muslim called Alhaji Baba. In those days, he lived behind our house, and there was no street connecting to his house for cars to pass, so my sibling and I used to assist him in carrying his stuff home anytime he returned from town. That is how we became friends.”

Tobbin recounted that shortly after finishing basic school, he earned GH¢1 from selling P.K. and other items. He clarified, “Note, I am not talking about GH¢1 in today’s value; I am talking about it as in 1984.” Inspired by Alhaji Baba, he decided to delve into pharmaceuticals, marking the beginning of his successful journey.

“I informed Alhaji Baba that I had made one cedi from my sales and was not sure I could continue with secondary education. I asked him what I could do with my one cedi. He then bought some medicines for me to sell, and that is how it all started,” he said.

Tobbin also acknowledged the invaluable support he received from the brothers of Ernest Bediako Sampong, the Founder and CEO of Ernest Chemist Limited, during his initial foray into the pharmaceutical industry. “I received so much assistance from the brothers of Ernest Chemist. They helped me immensely. They sold drugs to me, sometimes even on credit. The Ernest Chemist brothers really assisted me in becoming who I am now.”

Today, Tobinco Pharmaceuticals stands as a prestigious company that significantly contributes to Ghana’s pharmaceutical landscape while creating jobs for its citizens. Additionally, the Tobinco Group of Companies is heavily involved in real estate, addressing the housing challenges within the country.

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