CEO of Yammie Yams Kofi Mantey, a Ghanaian farmer specializing in yam agribusiness and the Yammie Yams brand, emphasizes the importance of visibility in business. During a recent interview on SVTV Africa’s Business Link with DJ Nyaami, he revealed how the exposure from their last discussion brought in new customers and business partnerships.
According to Mantey, starting a business is not difficult, but consistency is the real challenge. He advises entrepreneurs to take advantage of different business channels and ensure their businesses are legally registered.
“You can’t run a business without registering it,” he said. He also pointed out that it’s possible to start a business in Ghana while registering and operating it in the USA through the appropriate government offices.
Reflecting on a recent trip to the northern regions of Ghana, Mantey shared his observations about local farmers. He noted that although there is a perception that they lack money, in reality, they do have financial resources but often struggle with financial management.
“They don’t have access to essential goods like sugar, oil, and rice, and they are not saving in banks,” he explained.
He believes that conducting a data audit of businesses in the region would reveal that many people do not have significant savings despite earning money. This insight, he says, is crucial for entrepreneurs looking to enter the market.
Mantey highlighted that starting a billion-dollar business requires targeting the right opportunities.
“If you want to build a business worth billions, focus on importing essential products,” he advised. He compared this to local ventures such as kelewele (spicy fried plantains), stating that while they are profitable, they are unlikely to scale into billion-dollar enterprises.
Using the poultry industry as an example, he explained that Ghana imports large quantities of chicken. If local farmers could match the quality and production levels of imported chicken, they would significantly impact the market and reduce reliance on foreign goods.
“There are gaps in the market; the key is identifying them, branding properly, and marketing well,” he said.
Despite his successes, Mantey admitted that he has faced significant challenges in his business, including legal battles and financial setbacks.
“People will try to steal your money, fail to deliver products, or refuse to pay their debts,” he warned. He stressed that entrepreneurs must be adaptable and make adjustments to keep their businesses running.
Mantey believes that every business is a reflection of its owner’s character. He shared an example of pricing strategies, explaining that some people are satisfied making just 50 pesewas profit per product, while others aim for higher margins. For his business, he selects employees carefully to ensure they align with his vision.
He also encouraged Ghanaians who have traveled abroad not to discourage those working hard in Ghana.
“You can make it anywhere as long as you solve problems,” he said. “If you have the opportunity to travel, go. But don’t return and discourage those building businesses back home.”
Between 2020 and 2023, Mantey and his team invested GHC 500,000 in yam farmers in the north, providing them with motorbikes and mobile phones to support production. Unfortunately, the farmers failed to deliver the agreed-upon yams and instead sold their produce to other buyers.
“We were deceived. We gave them the money, tools, and resources, but instead of supplying us with yams, they gave us excuses,” he recounted. Some farmers even claimed their yams had gone bad, only to sell them elsewhere.
Despite the setback, Mantey remains resilient.
“The money we lost is gone, but we are alive. Life goes on,” he said, reflecting on the importance of learning from business failures and moving forward.
Kofi Mantey’s journey highlights both the opportunities and challenges in Ghana’s agribusiness sector. His key advice to entrepreneurs is:
- Register your business – Whether in Ghana or abroad, ensure it’s legally recognized.
- Identify gaps in the market – Look for products or services in high demand.
- Be prepared for setbacks – Business is full of risks, and adaptability is crucial.
- Stay consistent – Success doesn’t come overnight; perseverance is key.
- Manage finances wisely – Earning money is one thing, but knowing how to use and save it is essential.
Mantey remains committed to his business and is determined to keep growing despite past challenges. His story is a reminder that entrepreneurship requires resilience, strategic planning, and a willingness to learn from failures.
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