Raise your children to carry the business torch – Salem Kalmoni advises Ghanaian entrepreneurs

Salem Kalmoni, a respected Ghanaian business figure, has advised entrepreneurs across the country to intentionally raise their children to carry the torch of their businesses, ensuring that what they have built does not collapse after they are gone. He made the call during a public engagement, where he shared insights on the importance of succession planning and the role of family in sustaining enterprises.

Kalmoni emphasized that many businesses in Ghana collapse shortly after the death or retirement of their founders because no deliberate effort was made to prepare the next generation to take over. He encouraged entrepreneurs to involve their children in the business from an early age, teaching them the values, skills, and discipline required to manage and grow an enterprise.

According to him, raising children to inherit a business is not simply about handing over assets; it is about instilling in them a sense of responsibility, hard work, and commitment to excellence. He noted that children who grow up understanding the sacrifices and vision behind a family business are better positioned to protect and expand it when their turn comes.

Kalmoni also stressed the need for proper succession planning, urging business owners to document their operations, mentor their successors, and create structures that allow for a smooth transition of leadership. He warned that failing to do so puts both the business and the family’s legacy at risk.

His advice has resonated with many in the business community, who see it as timely given the number of once-thriving Ghanaian enterprises that have folded due to poor succession arrangements. Kalmoni’s message serves as both an encouragement and a challenge to entrepreneurs to think beyond their own lifetimes and build businesses that can endure for generations.

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