Fred Siaw Abrah: Ghanaian Businessman Shares Lessons in Loan Systems and Online Marketing
Fred Siaw Abrah, a Ghanaian businessman based in Accra, is actively involved in the loan and credit union space. In an interview with DJ Nyaami on SVTV Africa’s Daily Hustle Worldwide, he recounted his experiences in business, including being scammed by a woman who made away with a large sum of his hard-earned money. Despite the setback, Fred remains hopeful about recovering his funds.
Fred explained that keeping proper financial records is crucial in the loan business.
“Always track your profit and losses. For instance, if you take a loan of GHS 1,000 and the interest is GHS 80, your business must generate more than that GHS 80 as profit. Otherwise, repayment becomes difficult.”
He emphasized that giving loans to salaried workers is ideal because their bank statements help assess their creditworthiness.
“We don’t give out more than a certain amount, and the borrower must have a salary commitment that shows they can repay,” he said. His operations are recognized by the Bank of Ghana, and he currently offers loans between GHS 5,000 and GHS 20,000.
In addition to his loan business, Fred runs an online marketing venture (Fredeva markets) a side hustle. His vision is to grow the business into a microfinance institution, then a savings and loans company, and eventually a licensed bank. For now, they only deal with clients who provide proper documentation and do not accept land as collateral.
Fred has created a system where people send him product images, which he promotes through online ads. For customers outside Accra, he requires payment before shipping products. Through consistency and integrity, Fred has built a reputation for reliability, especially among wholesalers and importers who bring in items from China and sell in bulk.
He recommends selling products like perfumes, cosmetics, and diapers because they are in high demand and have good profit margins.
“You can post up to 30 images and run ads on Facebook or Instagram using Meta Ads Manager,” he advised. He tracks his ad spending and returns. “If I spend $100 and earn $150, I know it’s working. Scaling the ads can increase profits.”
Fred also highlighted that learning to run ads properly is crucial.
“Sometimes, Facebook even assigns account managers to guide you—some are based in Nigeria. They offer training on improving ad reach and return on investment.”
Aside from lending and e-commerce, Fred previously started with makeup products before shifting to perfumes and body sprays.
He encouraged young people to be disciplined, patient, and honest.
“You can start small—even from home. I used to ride a bicycle to work and saved bit by bit until I could invest in my business.”
He advised youth not to chase expensive lifestyles or only seek white-collar jobs.
“Sometimes, all you need is two pairs of trousers and a focused mind,” he said. “If you don’t have capital, build relationships and offer services first. Avoid capital-intensive businesses if you’re not ready.”
Fred concluded by criticizing the inefficiencies in some training programs.
“I once tried to learn interior décor, but the person charged me and only taught twice the entire year. In Ghana, people drag out simple training unnecessarily.”
Fred’s story is a reminder that with humility, strategy, and resilience, you can grow from nothing into a respected entrepreneur.
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