Business News of Saturday, 1 July 2017
Dr. Kofi Amoah is a celeberated Ghanaian businessman. He had his secondary education in the 1960’s at Opoku Ware School (OWASS) in Kumasi in Ashanti Region Ghana.
He was there on scholarship, courtesy a free compulsory education which was a national education policy of Ghana’s first president, Dr. Kwame Nkrumah. This is something he remained grateful for. He concedes he did not come from a poor home, but he also did not have a poor work ethics neither.
According to him, the ethos of hard work was embossed firmly in him that he saw nothing wrong with shining shoes for pennies as a little boy in Kejetia in Kumasi.
He completed Kwame Nkrumah University of Science and Technology (KNUST) and University of California, Berkeley in the United States of America (USA) also on stipend from the government.
His professional experience covers Business Management, Business Development and Investment Services.
He lived a trendy Los Angeles lifestyle which was fueled by a good job, a big car, and a nice expensive apartment overlooking the aimless boundary of the sea just as his life appeared to be aimlessly tied to a then lush lifestyle.
But an epiphany struck him during one of his routine habits, shaving his beard. “One day I was shaving and for some reason I stopped and somehow I started talking to myself, Kofi Amoah if you want to make it, you gotta change your lifestyle”. He recalled that although he was comfortable in life, a bright future could be an endangered species.
He then moved out into a moderate apartment, sold his car for a smaller one and checked himself into attending motivational seminars. While watching T.V, a man challenged him that if he wanted to start a real estate business with nothing, his seminar was best for him. He fell for it and the breakthrough fell at his feet.
He registered for the seminar at $40 and bought books worth $1000 (pronounce it slowly) and cramped himself in his room for two weeks, poring on the books, digesting its enlightening content until after the period he walked out.
He said within a month, he owned the storey building apartment he lived in. He re-financed it and doubled the rent for the other tenants. One of his accolades is ‘The Donald Trump of Los Angeles’ because he owns several properties there. He made his first two million dollars from the real estate business.
He thought and persuaded Western Union to come to Ghana and Africa because he encountered difficulty in sending money to his mum in Ghana in the 90’s.
His proposal was turned down because New York had demonstrated that the pen was mightier than well, his proposal. The newspaper had written a bad article about Africa on AIDS and tribal wars.” and his nice personality was not enough to convince him that Africa was good for business. For two months he pursed Paul, the president of the company until he acceded to his business proposal and asked him to get a bank in Africa to start.
Dr. Kofi Amoah Chief Executive Officer, Progeny Ventures facilitated the entry of global remittance service provider, Western Union, into Africa. Western Union started its African operations from Ghana in 1995. Twelve years on, the company had expanded its operations to almost all 54 African states.
He has served as Non-Executive Director of State Insurance Co of Ghana Ltd since May 29, 2008. He worked in the United States at Northrop, Electronic Data System (EDS), Southeast Investment Corporation Development, Elsafe Incorporated, Global One and Bear, Stearns Inc.
He is the founder and president of J.S. Investments Inc., Los Angeles, PPVI Ghana Ltd, and Progeny Aluminum and Design Ghana Ltd. He was a member of Ghana Investment Advisory Council, past member of the Ghana Football Association and Chairman of the Local Organising Committee during the Ghana 2008 tournament. He owns Citizen Kofi, a popular entertainment centre in Accra.