He Left Canada to Build a Factory in Ghana… Then It Caught Fire (Twice)

Summary

---

Konnected Minds Podcast

Episode Summary: “He Left Canada to Build a Factory in Ghana… Then It Caught Fire (Twice)”

Date: December 19, 2025
Host: Derrick Abaitey
Guest: Fred Ampedu, Founder of Postar Industries

---

Episode Overview

In this compelling episode, host Derrick Abaitey sits down with Fred Ampedu, a Ghanaian-Canadian scientist, entrepreneur, and founder of Postar Industries. Fred details his daring move from a successful career in Canada back to Ghana to build a manufacturing enterprise—an enterprise that endured two devastating fires, theft, and the perennial challenges of entrepreneurship. Their conversation delves deeply into legacy, family values, the importance of ownership, entrepreneurship, Africa’s education and development gap, and hard-won lessons on resilience.

---

Key Discussion Points & Insights

1. Fred’s Background: Roots and Family Legacy

• Legacy of Ownership: Fred describes coming from a lineage that values tangible ownership and entrepreneurship. His grandmother, “a stuck illiterate,” founded the largest market in West Africa (Tema Station), showing that success doesn’t require formal education alone.

  • “At some point in time you have to own something and pass it on to the next generation. That’s the reason why. Ownership. Simple answer.” — Fred (02:27)

• Early Money Lessons: Money became familiar early in his life. Family dinners revolved around business discussions, teaching the next generation practical money and business management.

2. Education Abroad & Western Exposure

• Learning from the West: Fred shares that the biggest benefit of studying in Canada was not just the education, but the global network and understanding that came from living in a different culture.

  • “The network was invaluable...I have friends from all over the world.” — Fred (11:05)

• Why Africans Don’t Return: Fred explains the challenge of return migration, attributing it to human nature: “People take the path of least resistance.”

  • “But for some weird reason, our people like the path of least resistance...But most people are not built to withstand these challenges.” — Fred (13:47)

3. The Drive to Return and Build

• Inspired by Afro-Optimism: Fred cites his father’s optimism about Africa and research into African history as major motivators for returning to Ghana and applying his scientific knowledge locally.
  • “My dad...believes in the promise of Africa. He said, ‘There’s no place greater than Africa.’ Like, ‘Fred, this thing you know how to make...bring this business or know-how to Ghana.’” — Fred (18:06)

4. Entrepreneurial Challenges: Factory Fires and Losses

• First Fire:

  • The day after raw materials arrived, Fred’s factory caught fire with no electricity supply, destroying ~$50,000 in equipment (20:44).
  • “I was in the washroom crying...My wife came in, saw me cry...She said, ‘Did anybody die?’ ‘No.’ ‘It's unfortunate. We lost almost $50,000 worth of equipment.’” — Fred (20:44)

• Theft:

  • The caretaker who helped during the fire later stole goods worth nearly 500,000 cedis (~$40,000 USD).
  • “I hired him to be the caretaker...Eventually stole almost 500,000 cedis worth of goods.” — Fred (21:44)

• Second Fire:

  • Another fire broke out in January 2025. Fred personally fought the flames and took corrective technical measures to prevent recurrence (23:47).

5. Resilience & Mindset

• Why Not Give Up?

  • Fred credits his family legacy and upbringing for his refusal to quit, even after such adversity.
  • “Once again, it’s part of the legacy that I was born into...My dad...still working. My grandmom passed at 103.” — Fred (25:49)

• Entrepreneurship is Nurtured:

  • Fred insists that entrepreneurs are made through nurturing, not simply born or manufactured.
  • “Entrepreneurs are nurtured. They are not made or born, they are nurtured. So because of the upbringing and me seeing that's all they did...subconsciously, you’ve seen them doing it, you know the pain...but also the reward if you get it right.” — Fred (27:20)

6. Building Capital & Strategic Planning

• Starting Capital:

  • Postar Industries required a cumulative investment of ~$500,000 over 10 years, much of it from Fred’s own work, family, and partner contributions (28:52).

• Leveraging Real Estate Abroad:

  • Fred used real estate investment in Canada to build wealth for his venture and advises others abroad to do the same, not getting emotionally attached to houses as assets (29:36).

• Insurance Matters:

  • Fred emphasizes the importance of insurance in Ghana, recounting how payouts supported him after the fires (31:37).

7. On Wealth, Fulfillment, and the Role of Entrepreneurship

• Money as a Problem Solver:
  • “Any problem in this world that money can solve is not a problem. Go get money, solves the problem.” — Fred (32:10)
• Entrepreneurship as Fulfillment:
  • “Entrepreneurship runs the world. The global economy is entrepreneurship.” — Fred (32:50)
• Reality of Difficulty:
  • “Everything is hard. Nothing in this world is easy...you have to master accepting that everything is hard and failure comes with it.” — Fred (33:26)

8. Advice for Aspiring and Returning Entrepreneurs

• Networking is Vital:
  • Approach people directly, listen, and absorb as much wisdom from experienced professionals as possible (34:12).
• Story: Solving Real Industry Problems:
  • Fred’s humility led to $2.6 million in sales in a single year by listening and quietly improving a product where others had struggled (35:23).

9. Africa’s Struggle: Science, Engineering & Structural Issues

• Underproduction of Engineers:
  • Fred passionately outlines how a lack of scientific and engineering expertise is stalling Africa’s development (36:56).
  • “If you don’t produce as many engineers and scientists as possible, we always lag behind.” — Fred (37:58)
• Practical Example:
  • Ghana’s “red earth” (iron oxide) holds untapped potential, but value isn’t realized due to a lack of technical application (37:59).
• Focus on Value Addition:
  • Raw materials will never be as valuable as finished goods—Africa needs to move up the value chain (43:33).

10. Solving Unemployment: Innovation at Home

• Fred advocates for grassroots engineering solutions: helping local distillers refine alcohol or improving fish smoking, rather than defaulting to government jobs or migrating (39:30).

11. On Brain Drain & Staying Local

• Why Many Stay Abroad:
  • Often, it’s about perceived comfort rather than long-term reward (47:28).
• The Importance of African History:
  • Engineering and science education should be grounded in African perspectives to encourage loyalty and a sense of duty to home communities (46:32).

---

Notable Quotes & Memorable Moments

• On Family Legacy and Ownership:

  • “Ownership. Derek. Simple answer.” — Fred (02:27)

• On Loss and Resilience:

  • “I was in the washroom crying... My wife came in, saw me cry in the washroom. She said, ‘Did anybody die or anything?’ No... We lost almost $50,000 worth of equipment.” — Fred (20:44)

• On Failure:

  • “You have to master accepting that everything is hard and failure comes with it.” — Fred (33:26)

• On the Role of Entrepreneurship:

  • “Entrepreneurship is the path. Fulfillment.” — Fred (32:50)

• On Engineers and Value-Addition:

  • “If you don’t produce as many engineers and scientists as possible, we always lag behind.” — Fred (37:58)
  • “There is no raw material more expensive than finished goods. There’s none.” — Fred (43:35)

• On Motivation versus Discipline:

  • “Discipline.” — Fred (51:41)

• On Fulfillment:

  • “Best time of my life...at one point in my career abroad...award-winning chemist...and I’m saying best time of my life living in Ghana.” — Fred (52:11)

---

Important Segments (Timestamps)

• [02:27] – Fred explains the core value of “ownership” in his family tradition.
• [10:54] – The importance of Western education and global networking.
• [13:47] – On why the diaspora often don’t return to Africa.
• [18:06] – Roots of Fred’s decision to return: African history and Afro-optimism.
• [20:44] – First factory fire: emotional aftermath, loss, and theft.
• [23:47] – Second factory fire and direct action to save the business.
• [27:20] – Are entrepreneurs born, made, or nurtured?
• [32:10] – “Any problem...that money can solve is not a problem.”
• [36:56] – Why Africa struggles globally: lack of engineers and value addition.
• [43:35] – Importance of manufacturing and value addition.
• [46:41] – Addressing low pay and brain drain: the need for historical perspective.
• [52:11] – Fulfillment found in living and building in Ghana.

---

Conclusion

This episode stands out as a masterclass in persistence, multi-generational thinking, and strategic entrepreneurship. Fred’s real-life victories and setbacks make for a realistic blueprint for those dreaming of returning home or launching ventures in Africa. The critical takeaways: nurture entrepreneurial spirit, leverage networks and practical skills, add value locally, and adopt both resilience and discipline as guiding principles.

---

Transcript

[A]

Early in the morning, 1:00am, I just woke up, I looked on my phone, I had about 30 missed calls. I was like, ah, what's going on? I pick up the phone, they said the factory is on fire. We lost almost $50,000 worth of equipment. The gentleman who actually helped stop the fire, I hired him to be the caretaker of the factory. Eventually stole almost 500,000 cedis worth of goods from us. I don't think it's a Ghana problem. It's a human nature. People take the path of least resistance. Why did you not give up, Derek? Once again, it's just, I think it's part of the legacy that I was born into.

[B]

Fred, what do you think is the correct path to fulfillment?

[A]

H.

[B]

To our entrepreneur's mate or.

[A]

They are not made or born, they are nurtured.

[B]

Why is Africa struggling to rise globally?

[A]

Because we have. And it breaks my heart. Any problem in this world that money can solve is not a problem.

[B]

You're welcome to Connected Minds podcast. My name is Derek Obaite and I appreciate everything that you do for this podcast. Your time for watching our episodes. If you haven't subscribed, please become part of the family. If you didn't know that we have episodes on Spotify and Apple, I'm going to drop the link in the description so that you can listen while you're playing golf, while you're on the treadmill, while you're doing something that you love. Today I have a conversation with Mr. Fred Ampedu. He owns Postar Industries. The man loves education. He's lived in Canada for some years, became a scientist and has moved to Ghana to set up a business, Posa Industries. Mr. Fred, how are you?

[A]

I'm very well, Derek. And before you continue, you have a world class studio.

[B]

Thank you.

[A]

I'm really impressed by that.

[B]

Thank you, thank you, thank you. My, my, my desire to keep improving is affecting me so I keep getting different gears.

[A]

And that's the scientist in you?

[B]

Yeah, I think So. I agree 100%. So Posa Industries?

[A]

Yes.

[B]

Why did you start Posa Industries?

[A]

Ownership, Derek. Ownership. We can't keep working for people the rest of our lives. At some point in time you have to own something and pass it on to the next generation. That's the reason why Ownership, dairy. Simple answer.

[B]

But you do come from a poor family.

[A]

Okay. My grandmom, my dad's mother was what they could term a stuck illiterate. She didn't go to school, but at one point she owned. She was the founder of the largest market in West Africa at some point. And those who are old enough, I think it's still around. They used to call it Tema Station. Tsts. They used to sell secondhand goods. Yeah. So she founded it 1972. A single mom with three kids had built a six bedroom house in Accra. So that's the sort of family I was born into. So ownership has been passed down from generation to my dad's generation, my aunt's generation. Now is our time. So ownership.

[B]

Eric, have you benefited from what grandma did?

[A]

Yes. My dad is an mba, llb, chartered accountant, MBA in finance. He said when he went to university in India, the principles, he taught them in India as an MBA student. Her mother, illiterate, was practicing those principles. So growing up with her, we lived with her till she passed away. I think she passed away two days later. We left for Canada in 2000. Yeah, those principles were invaluable.

[B]

We don't hear that many success stories of women these days, do we?

[A]

No. No.

[B]

Or maybe they don't tell the story.

[A]

Or they don't tell the story. Does it? You know, because I was brought up as a. By a market woman. I hang around the market even to this date. I was telling you a story about my aunt who passed away three months ago. She was technically my mom and fantastic businesswoman. Most people who go to Madina Market, she's the kingpin when it comes to hardware. Just one store built apartments. Not apartments. Apartments with an S with just one store. Fantastic business principles. The way she does customer service. If you buy her stuff and you bring it back, she looks at it, it's okay, she gives you your money or just exchanges for you. In Ghana, you see, when you mentioned.

[B]

The topic of ownership.

[A]

Yes?

[B]

Don't you think it's also a scam?

[A]

A scam to who?

[B]

It makes us work too much. And the people sometimes we leave things to, they don't even appreciate them.

[A]

That's not your concern.

[B]

Okay.

[A]

It shouldn't be your concern. You as the. You know how some people say, oh, and I'll go to PE a little bit? Yeah. Let's say the people who came ahead of you didn't do anything for you. Now it's your turn. What are you doing for the next generation? It's only poor people who tell themselves that. We still have Rockefeller family, the Carnegie family, Trump's family. Who's less tough for their. For him? He's as Trump for his children. The trained mind who's been trained about ownership doesn't think like that. My grandmom Left the shop to her daughter who is my aunt. This is over 100 year old shop and it's now at 10. And Derek, trust me, we won't let that shop collapse. And we'll leave it on to the next generation.

[B]

How did they do it?

[A]

That's what I'm saying. They bring it when you are born. When we're kids, 5, 6, 7 years olds. When we come from the market. Me, my brother, my sister, others, the cousins. We sit down, kids, you've read all kind. One cd, count one cities, you count two cities. So they introduce you to money early. Money is not mysterious. Money is not mysterious. It's human beings who go and get money. So it doesn't become mysterious to you. You know, it's by your hard work that you get money. So they introduce you early. They teach you all these principles. When you get the money, use them for sure, but keep a bulk of it. You understand? So when they introduce you early, My own daughter, that's what we started with her. We go for dinner every night at my dad's place. My aunt, no, my dad, my mom. You know what we talk about our businesses. Oh, we got this money. Oh, this is going here. Or this tradesman came and did this. We didn't like what he did. I think next time we should do it this way. Do you know why we are teaching that young girl that in time, when we are no longer around, it will be your turn. So if somebody has left it for you, so you don't squander it.

[B]

There are families in Ghana, they own so much as a family.

[A]

Yes.

[B]

And now the first generation of owners are struggling to get posterity to carry on. I'm shocked how your parents were able to do. It's very admirable.

[A]

Yes, and that's what I'm saying. I'm a product of both worlds. The western educated family. My dad and then my grandmom and my mom, my. My aunt who they said didn't go to school, you understand? But then what they do is they don't. They don't keep those two separate. At every point there's communication going on. So you understand and appreciate that what they are giving to you is not for you. You are just a custodian in your time. Take care of it, don't squander it because it's not yours. Started from somewhere. You are now the custodian. You have to pass it on to the next generation. I think the disconnect is most of these very rich families, they let their kids focus initially on just the schooling. My daughter is 8 years old. She started going with me to the fact when she came to Ghana when she was five. When there are some days off, I take care. Oh, press this machine so she gets used to it and she understands how hard dad is working to build this for her. And I'm telling you for a fact, this note, she would not squander what will be left for her. We don't. She goes to school, but we don't disconnect the tradition from it. As I was telling you, when we go for dinner, my dad, my stepmom, who also runs a very successful shop at Medina Zuno Shop junction. She's the first electric shop owner at Medina Zungu Junction, doing it since 1990, still running to today. So they are teaching, we teach the kids.

[B]

Do you have like a family constitution? Not really.

[A]

It just knows. It's just like English law, you know, they say England doesn't have a written constitution. It's just by, you know, people learn more from communication than actually written word.

[B]

I mean, you are scientists. Sops.

[A]

Yes. Do a great job. Yes. Because sops, you know, you are there. But what you tell the person, they learn it more than what you show them. You tell it to them and then you show it to them, then they understand, oh, this is the reason why you are telling them. And if they forget, they can refer to this document because if that wasn't the case, then human knowledge which wasn't written would have disappeared from the face of this earth. Why do you go to some of these traditional homes, traditional rulers, they still have some of this tradition going on because it was spoken to them and showed them and they passed it on from generation to generation.

[B]

Doesn't it become like Chinese whispers where, you know, you keep telling one person and over time he loses his value.

[A]

That's what they tell us is not true. It's not true because at some point in time the education will come in and it will be written down. And then we put it to scrutiny to make sure what is being done is the right thing.

[B]

And then you traveled abroad.

[A]

Yes, sir.

[B]

To go to school?

[A]

Yes, sir.

[B]

If your parents were doing so well here and you know, they wanted you to also start something, you know, as part of the family tradition, why did you have to go abroad?

[A]

Generally in this economic structure that we have, it is technically run from the Western perspective. So if you want to grow your business, you need to go to the west if possible, and learn. I think that was the reason why they did that. And it's seen all across the globe. When we were in Canada, I had classmates from India, China, almost everywhere because that has become a melting pot of people from all over the world. So the education from the Western like going to Canada, the education was one but also I think the network was invaluable because now as I'm sitting here, I have friends from all over the world. If I need something, I can call somebody in China on my phone. A classmate in Japan, a classmate in Australia, a classmate in mention I think that was the. That's the most valuable thing I learned I got from going abroad networking. And then also now the mystery of the white you are not the white man doesn't they are not mysterious anymore because you live in their system. You know what their capabilities are. So if I think it was I think it was the right decision hindsight that they took me there because also let me tell you something, this is history. Back in the days, back in the days when audition or a nest of king is born. If you want to defeat your let's say the person who rules over you what you used to do is you take. If say Derek, let's say you are my son, I'm the ruler I want to defeat let's say the one who rules over us. I take you to go and study their ways, how they do things and then you bring the person back because now he understands how the imagination works. That's the only way you can defeat them. But where we as Africans we fell short is when we went majority of us didn't come back. And that's where the Chinese I think they've done. They did a tremendous job of it. Those descent, a good chunk of them went back and Turkey are doing the same thing too. Those they sent to Germany, a good chunk are back in Turkey. That's why now you see Turkish products are all over the place. But our people, unfortunately we went there and got caught up.

[B]

Why are we not coming back?

[A]

People like, you know, human beings generally will take the path of least resistance. It's human nature. It's not a waste thing. But for some weird reason our people like the path of least resistance. Derek I for one the challenges we've gone through doing this business. I'm a different man from when I started this 2014. But most people are not built to withstand these challenges. So they're like, ah, you know, here I have a job, have a nice home, can drive my Porsches. Why do I have to come here and come and stress international I will stay here and live Our life. So that's why I'm saying the upbringing and the fact that ownership for my family was the reason why I said I can't stay here and just work my whole life. I have to own something. Wow.

[B]

So if you had something to say to the young man who has acquired so much skills.

[A]

Yes.

[B]

And is stuck abroad, what would it be?

[A]

Fellow gentleman, Fellow lady. Ghana is a fantastic country. Don't let anybody lie to you. I've had the opportunity to drive as far out to Atwabu, Atwabo gas terminal that's in Western region. Gone as far as Hu, gone as far as Tamale. And wherever you go, people treat you well. And Derek, I'll be driving 2am at night. Maybe it's naivety. I'm not afraid that somebody will rob me or anything. And when you come here initially there is a lot of. There's some challenges. But if you're able to ride the challenges. Derek, as I'm talking to. I never knew. Look at the sort of people you've had sitting in your chair, the caliber of people you've had sitting in your chair. I never thought I'd be sitting here in under three years. So if you want your name to be out there for people to feel the impact of what you have learned, look back home, wherever you are, not just Ghana, Togo, Benin, any other African country, that's where your impact will be felt.

[B]

You have such an impressive thought process. What? The way you, you, you put your words together. I think I'm here, but I'm coming back here. You know, that's, that's, that's, that's, that's a very good way of, you know, summing this. I really want to understand, are you doing this for yourself or for your family?

[A]

Doing it for myself and my family. Nobody does anything in vacuum, Derek. What you are doing is not for yourself. It's for yourself and your family. Because you are a chain. You were, people came before you. This is your turn. You're doing it for yourself and then your children will benefit. Take it from where you are and then continue. So it's for yourself and your children. That's how people are supposed to think. Everything that you do. Look, people underestimate the power of decision. Human beings are all decision. Human beings are all decision. So everything you do is at times sit down and look at if this decision that I take, how is it going to affect me and the people before me and the people to come after me? Things will be easy for you.

[B]

Every decision, that's the Correct path of living life.

[A]

Yes. Every decision you make is for the people before you. You and the people to come. And not just you, your cousins. Because that's how Africa we've lived. Nuclear families was just introduced by a foreign power. We've always been extended family. That's why, like Akans, we don't have a divorce for cousins. Mimiya, we don't have that. My mise. Wait. My father. A female father. My aunt. My mom's male. My. My male mom. We've never had this thing.

[B]

Let me stop you here for a minute. We are on a journey of changing the minds and the lives of people. So if you haven't subscribed and become part of the family, please hit the subscribe button and turn on the notification. Thank you. Now, let's carry on with the conversation. You've done great educating yourself abroad. And then finally you made a decision that I want to come back home. Who made you or what reason did you have?

[A]

Okay. First and foremost, in 2010, for some weird reason, I started to do more research on African history around 2010. So there was this professor. He passed away 2015. His name is Professor Yusef Ben Yekanan. He said, one of the topmost Egyptologists. African. Egyptologist. So I started to research on him. So it was when I started reading his books, I realized that we've been lied to for all these years. From religion to engineering to science. I was like, Africans are really great, you know? So I was still reading his. And then one time when I got my second job, my dad asked, oh, so Fred, this job that you're doing, what do you do? And I told him, I do. We'd make this, this, this and that. My father is a very big Afro optimist. He believes in the promise of Africa. He said, there's no place greater than Africa. Like, oh, Fred, this thing that you know how to make, you know, to be of better value for Ghana and beyond. So think about bringing this business or know how to Ghana. And that's what started this journey. And we've been at it different versions. We come here every year with our raw materials. You know how every environment is different. The west is quite dry. Ghana is very humid. So the way you process raw materials in the west is different from how you process it in Ghana. So I started coming, try and error, try and error, try and error. It will go to market. It won't work to go to market. It won't work while we're preparing to build our factory. So by 2017, we had bought a prefab. Prefab is prefabricated warehouse. We bought it from China, brought it here. And then my business partner, who is also my brother called Kofi, came to Ghana, built the prefab and then we ordered our equipment, raw materials, we bought everything. Then my senior brother, who I think I said I shared that story. Yep. Yes. He was the one who sacrificed his schooling that, you know, Fred, I think you have something. You are greater than I am. So you go and then I'll stay home and work and pay like your rent and stuff like that. So he came with me and then we came and set up the factory. And then we started our production. But I don't know if Derek, I should share one story with you.

[B]

Let's go.

[A]

As soon as the raw materials came the next day, early in the morning 1am, I just woke up. I looked on my phone. I had about 30 missed calls. I was like, ah, what's going on? I pick up the phone, they set the factory is on fire. The next day, the day the raw materials came, the next day they set the factory on fire. How is the factory on fire? We hadn't connected. There's no electricity there. It's just a warehouse with raw materials and equipment. How is the factory on fire? They were able to cool. Stop the fire. Fire service came. They said, oh, a spontaneous combustion that caused the fire. I'm like, how is that possible? The one with the least, the chemical of the least spontaneous combustion that we can explode is 180 degrees Celsius. I don't think you can get 180 degrees Celsius in the factory parts. We had a fire. I was, I always say I shared this story. I was in the washroom crying. My wife came in, saw me cry in the washroom. I was going to the factory is on fire. She said, did anybody die or anything? No. It's unfortunate. We lost almost $50,000 worth of lab equipment and equipment. Two of my mixers got burned. Two ashes. Yeah. Lab equipment, almost everything. Tools for fixing like cars and everything. Compressors, all bends. We dusted ourselves off and then we continued, brought in more raw materials. And the gentleman who actually helped stop the fire, I hired him to at least be the caretaker of the factory. Eventually stole almost 500,000 cities worth of goods from us. Yeah. So unfortunately became the government of Ghana versus him. So he was jailed for about a year and a half. But we dusted ourselves off and keep continuing. People will say, I know people will say, why do Ghana? Is Ghana people still? I Don't think it's a Ghana problem. It's a human nature. As I say, people take the path of least resistance. So if Derek, you and I are around, I look around, nobody's checking. If there are no checks and balances, people take the path of least resistance. So if I look around, oh, Derek is not paying attention. If he has a phone, I'll grab it and go. It's not just Ghana, it's worldwide. That's why we went to China. As soon as you step out of your hotel room, not even your hotel room, even like your hotel room, the hallways has cameras. You walk on the street, it has cameras. Because when human, human, when human, humans, humanity, we are left on our own. We have the propensity to do our, like, what is it? Horrendous or outrageous stuff. So it's not just the Ghana problem. We had some lapses around, that's why that happened. But we corrected it and we keep doing the fire that we had. Another one happened January 3rd this year. I was there in the office alone. Then explosion. I looked around, got out, I'm like, am I going to let this ownership burn to pieces? I said no. I went in the burning poor house with fire extinguishers, managed to calm it down before people came and helped. And then we made changes once again. Root cause analysis. We realized that the heat is one of the reasons why it's causing that. So we made changes, put in some extractors and move that particular raw material that we think is susceptible to heat. We built another warehouse which is very ventilated and we moved everything there. And we know we've solved the problem so it won't happen again.

[B]

One thing that most people who have never started a business probably do not know is there's a skill that you are going to end up mastering problem solving skills. And as a scientist, you do that a lot.

[A]

Yes.

[B]

I think it's really helped you.

[A]

Yes.

[B]

I'm sorry you had to go through all of this, but business is hard, isn't it?

[A]

Business is hard. There are nights I go to bed around 1am, 3, 4am up. People send me messages at 2am they like, Ah, Mr. Fred, you don't sleep. I'm like, yeah, money doesn't sleep. So if somebody, if you send me a message, have to be responsive. That's one thing I at times that's the challenge I think we have here. Yeah, you have to response. You see.

[B]

Mr. Fred, you had an idea about business before you left Ghana.

[A]

Yes.

[B]

And in between when you visited back Home. There's still business that was giving you some, you know, a few ideas about how businesses and then you travel abroad, stay there, you know, work and you know you had a really high paying job.

[A]

Yes.

[B]

And decided to come back to Ghana to do your own thing.

[A]

Yes.

[B]

I guess family tradition. Facing all these challenges, why did you not give up?

[A]

Derek, once again? It's just, I think it's part of the legacy that I was born into. I think because we've always been entrepreneurial. My dad's side, my dad as I said, is a top, top, top, top professional. But he's had businesses, run a hotel a couple of times. Now what he does is builds apartments and then rents it out, stores and rents it out. And he's still working.

[B]

How old is he?

[A]

72. 70 something.

[B]

Wow.

[A]

Yeah, he's still working while his friend and his colleagues are long retired. Still working. My aunt just passed away three months ago. She passed. Two months of staying home. She passed away. She was 83. Wow. My grandmom passed away at 103, five years after retiring. So 96.

[B]

Fred, how many siblings do you have?

[A]

Eight.

[B]

Are they all entrepreneurial?

[A]

That's actually a good question. Actually I have a sister at one point she had the largest E commerce rings chains in Ghana at one point. I think she still does. Yeah. So out of the eight siblings, and then I have another young sister, she our last born, she's a mechanical engineer, GPA 4.0.

[B]

Okay, brilliant.

[A]

She's also an entrepreneur.

[B]

Right. So out of the eight, let's say there's only three.

[A]

Yes.

[B]

Great.

[A]

Actually another sister. Four.

[B]

All right, so four.

[A]

Yes.

[B]

So let's say four of your siblings. So half.

[A]

Half, yes. 50. Yes.

[B]

Are entrepreneurial.

[A]

Yes.

[B]

So our entrepreneurs made or born?

[A]

I think entrepreneurs are nurtured. They are not made or born, they are nurtured. So because of the upbringing and me seeing that's all they did. Yeah, by default, subconsciously, you've seen them doing it, you know the pain that comes with it, but then also the reward if you get it right. So you are nurtured into it. So you see it, you. It's just, it's time. Even all my siblings, who I say the other four bet you mean five, ten years time, if you talk to, I'll tell them they are now all entrepreneurs.

[B]

Why do you believe so?

[A]

Because they see it. They saw it, they see their mom doing it, they see me doing it, they see other siblings doing it. So because you see it, it's just natural.

[B]

Why did they not do it?

[A]

Before because I think it's just time. You know, when I went to Canada, I wasn't an entrepreneur until I decided in 2014 that this is what I wanted to do.

[B]

But every, every, every story you've told me today, this is your real life story.

[A]

Yes.

[B]

Proves that you had the seed in you from the beginning.

[A]

Yes.

[B]

Did you guys not have the same upbringing growing up?

[A]

Actually similar. Similar upbringing, yes.

[B]

Okay.

[A]

So as I said, you know how everybody takes their path is different. Maybe mine started early, but I know for a fact that in time theirs also come into the entrepreneurial stream. It's just a matter of time. If you like. Market on the wall. I've marked it. Yes. All right. About five, 10 years. You come here to. I'll tell you, they are all entrepreneurs. Now.

[B]

The business you started in Ghana.

[A]

Yes, sir.

[B]

What was your startup capital?

[A]

Over time, the tax man be happy, they'll be fine.

[B]

This is cost, we don't tax cost.

[A]

Around 500,000 US over time, over a period. Over maybe 10 years.

[B]

Over 10 year period you've put in your personal income.

[A]

I said, I said group of us, me, my wife, my big brother and then my colleague Kofi. All right.

[B]

And everybody's helping to support.

[A]

Everybody helping. But a chunk of it is more. It's more me.

[B]

That's amazing. Yeah, you've done fantastic.

[A]

Yes.

[B]

Now if I. This capital is coming from your work.

[A]

Yes.

[B]

You've worked for years in Canada.

[A]

And then also strategy.

[B]

Okay, talk to me about the strategy.

[A]

Okay. I think I've shared this on a couple of platforms. If you live in the west, the fastest way to get access to capital is through real estate. Okay. So initially I purchased my first home in 2011. Back then it was easier. You didn't need as much capital. But I was going to say something, I think it might not be appropriate. But I put in some hard work. Hard work. I used to, I was a professional. So I go to work from 7 to 3:30, come home quickly, go shower, sleep and go to my second job as a factory hand. At 9:30 to 6:30 I don't go home because where I was working was just a stone throw from my workplace. I did that for one year to raise the needed capital. That's a down payment for my first house and that was the what I needed. So you stay in the house because you know, homes kind of appreciate over time. Yes. So that's your startup capital. So you, you put that money in as down payment and then you watch it grow. So when you. And then don't get emotionally attached to a house. People get emotionally attached to a house. It's a house. You are using it. It's a tool for you to get money. You understand? And this works for people abroad. So you stay in the house, you read the market. This is how much you bought the house in X amount of years. It's worth this amount. Two things. Either you take the capital, sell it, take your money, invest it where you don't have to go, borrow money vis a vis. That's Ghana. And then take some of the barest minimum and buy another house. Repeat that cycle before you realize that's the money you need to start a business.

[B]

I've said it on a few consultations that people should. If you live abroad.

[A]

Yes.

[B]

And you want to be able to live in Ghana comfortably.

[A]

Yes.

[B]

Get some properties.

[A]

Yes.

[B]

Because when you're living in Ghana, your property is abroad.

[A]

Yes.

[B]

To support.

[A]

Exactly.

[B]

So if you're trying to do a business here and even I mean your business got bent.

[A]

Yes.

[B]

Twice.

[A]

Twice to go.

[B]

If you didn't have any investment back in Canada, you would have struggled.

[A]

And one more insurance in Ghana to work. So if you have that, also get insurance, right? Yes. Insurance in Ghana works. We've benefited from it. Twice. Yeah.

[B]

They actually came to your rescue because we paid. Amazing.

[A]

Yeah.

[B]

Fred, what do you think is the correct path to fulfillment?

[A]

H Entrepreneurship. Any problem in this world that money can solve is not a problem. Any problem in this world that money can solve is not a problem. Go get money solves the problem. Think about it.

[B]

Yeah, I'm thinking about it. Break it down.

[A]

Any problem that money can solve is not a problem.

[B]

You just need money.

[A]

Get money and you solve the problem. If you are sick, you need X amount of money. Get that X amount of money, they take care of you.

[B]

How do we get the X amount of money?

[A]

And that's why entrepreneurship comes in. Derek. People underestimate the power of entrepreneurship. Entrepreneurship runs the world. The global economy is entrepreneurship. We fight wars over entrepreneurship. Man is entrepreneurship. Because that's the economy right there. Tell me any business in this world that is not entrepreneurship? Hmm. Tell me one. You had interviewer. But there's none. Entrepreneurship is the path. Fulfillment.

[B]

How about how hard it is, Eric?

[A]

Everything is hard. Nothing in this world is easy. Everything. Even life. Why do we build shelter? You can walk around like animals. Everything. So have it in your mind. Maybe it's the research and development in me. Because if you do research, the number one character you you build is acceptance of failure. Because most of the time all the things you work, you work on will fail. So I think maybe that has built that personality trait in me that you have to master. Accepting that everything is hard and failure comes with it.

[B]

What would be your best advice for the young entrepreneur coming up?

[A]

Know as many people as possible. If you see somebody walking in the street, somebody that you admire, don't be shy, go talk to the person and you'll be surprised. I've met because of business. You know, the beauty of business is you meet so many people. Big men, small men, small men in between, big women in between. You'd be surprised how much they are willing to share. I've gone into offices of some of the biggest men. If you go there, keep quiet. You're not there to argue. Because if you know what you, if you are, if you are really that brilliant, you'll be bigger than him or her. Keep quiet and listen to everything they tell you. Let me tell you a story. I worked for the second largest coatings manufacturer in the world. The largest in North America, the second largest in the world. When I got there, high flying chemist. I met some older chemists there. When I went there, I kept quiet. He showed me how to make products. They had been working on this particular product for two years with zero sales. I went there, oh, this is how we make it. This how we do this. This is how we do this. This, how do we do it? And they went for a conference. I didn't argue, kept quiet. They were using, you know, measurements. They add this, go and check, add this, go and check. I knew what they were doing was wrong. I just kept quiet. He taught me everything. He went for a conference in Cleveland, Ohio for three days. When they came, I solved the problem. Because all I did was once again, the brilliance in me is I took different ratios of the raw materials, all types of raw materials. I built a spreadsheet, built a formula. So as soon as I punch it in there, it gives me this, the expected number to get. And when I used to, I do the lab work and used to correlate. When they came, I solved it. When they came back, I solved the problem six months. I joined in June. By the end of December, we sold $800,000 worth of good. The following year, 2.6 million, just me alone, outselling 30 chemists in North North Carolina. Born me Chemist of the year.

[B]

You know, you're a very humble man, right? I, I was speaking to, I was speaking to you on the phone and I said, I'm coming to your factory to come and come and look at it. And then you go, oh, it's a very small factory.

[A]

It's a very small factory.

[B]

And then I saw the videos and I saw the picture and I said, small factory. This is a huge factory. You know, you've done fantastic. You believe in Africa?

[A]

Yes.

[B]

You believe in the power of us.

[A]

Yes.

[B]

Why is Africa struggling to rise globally?

[A]

Derek? Because we have. We don't put emphasis on science and engineering. And it breaks my heart. Let me tell you something. From 1990 to 1997, America produced the most number of engineers. 1997 to 2023, Russia didn't relinquish that position till China. China. From 2023 to now, China produces the most amount of engineers. Russia, 120 million people produces 423,000 engineers a year. China, 1.2 or 1.3 billion produces 500,000 engineers. Now people ask me, oh, why do we need engineers, Derek? If you step outside of your compound or if wherever you are in Ghana, if you look outside, what do you see? You look on the background, what do you see? Taos background. Like, if you look on the land, raw land, what do you see? The color. What color is it?

[B]

Green.

[A]

That's the grass. What is the earth? What's the color of the earth? Red. Have you asked yourself why is it red? No. Because as an engineer or as a scientist, have you asked yourself why is it red? It's iron oxide. Ghana is abundant in iron oxide by yet we import iron. That's why we need to train as many engineers as possible, because engineering correlates so strongly with economics. Look at China now. Now they've taken over the world as they're the biggest, they're the largest producer of engineers. Now look at how, what the number of things, innovative, products they are producing. Very. So if you don't produce as many engineers and scientists as possible, we always lag behind. People will say, oh, and you know what shocked me the most? Do you know the country that has consistently been top five? If I tell you, the country will be shocked. Iran. Now you see why I don't. When this issue happened, they were able to stand on their two feet.

[B]

Let me stop you here for a minute. We are on the journey of changing the minds and the lives of people. So if you haven't subscribed and become part of the family, please hit the subscribe button and turn on the notification. Thank you. Now, let's carry on with the conversation. But how, how say young students that have, you know, young science students, they've applied for jobs, they Are not getting it. What path can they take?

[A]

Once again, that's why I'm saying the science and engineering. I was looking for alcohol. Food grade alcohol from usually the one that we use, we buy commercially, runs between 96% and 99%. So I was like, why do I have to just alcohol. I have to import alcohol. We have our local alcohol producers. So I asked them if they can get me some. They said, oh yeah, if this one is not mixed, we'll bring it to you. I have an alcohol meter at work, at the factory, at the lab that I used to check. I told them, listen, if you bring the alcohol, I can check the purity and tell if it's oh, Fred is good. They brought it 55%. I said, oh, you guys mix this. I said, no, no, no, we got it right from the top. You guys mix it, it's 55%. Okay, we'll bring another one. 50%.

[B]

Wow.

[A]

So I was like, what's going on now? I just went online and checked how do you purify alcohol? What I realized was now this is the engineering thing that comes in. I realized it's the local manufacturers, when they are boiling the alcohol, they just put wood and they don't control the temperature. So they just have the fire burning. But to get a pure alcohol, the temperature range has to be between 78 degrees Celsius and 82 degrees Celsius. You understand? So all we did is our engineers to go out there, help this, look, help this. Local people just come up, a simple device. We put a thermometer at the top, control the temperature and alcohol that will come. I did it in my lab. I was getting 90%. My small lab. And we have our engineers saying there is no job. We import. Look at how much alcohol we import to Ghana. $2 billion. People don't know $2 billion of worth of alcohol. Our local manufacturers are here. People, our engineers, young engineers can go out there, partner with them device. A simple device, just a kettle with a heater underneath. Control the temperature. You are getting 95, 99% pure alcohol. Selling it like crazy. Women who smoke fish. If you go there, you still have the, the old clay with fire underneath, smoking them. Engineers go out there, look at their process, see how you can make it better, make it cleaner. You can export this.

[B]

Some people don't want to accept these things, you know, sometimes you come up with solution.

[A]

Once again, just so I don't lose train of thought. The red earth that I'm talking about, you know, it's natural dye. There are Some people who take the red, you know, some of them is very, very, very red. They grind it, soak it in water and put in white T shirts in there. Over two weeks, you take it out. It's the color of the red. You wash it. It's natural dye. There's a big demand for natural dyed products in the world right there. Our engineers, our scientists looking for jobs.

[B]

So we are focusing on the wrong things, right?

[A]

And one thing, one more. Let me throw it. And some numbers out there for you to look. Sports, Entertainment. Sports is $5.83 billion annually. Recorded music is 23 billion. So let's see how it's 1 trillion. Manufacturing alone is $16.8 trillion.

[B]

Wow.

[A]

Every year. So if you import, you are importing all the time. Derek, look at. Is this rocket science. And you, you know, people makes it seem manufacturing is such a difficult thing. If you fry meats, you roast me. And granite is manufacturing. Kellogg's conflicts. What is it made out of? Roasted peanuts. It's all manufacturing. People think that a manufacturing size should be massive, like gigafactories. Most factories around the world is within maybe like the size of mine.

[B]

So we have to focus on adding value to products.

[A]

Adding value. Oh, Africa, we are rich. Raw material producer. In this global economic structure, there is no raw material more expensive than finished goods. There's none. If anybody knows why, you should tell me. I'll stop what I'm doing. There's none anywhere. Look at even gold. Raw gold. If I take the gold and design it and put my name on it, it's more expensive than the gold. Raw gold. So if you continue to. Derek. Produce raw materials and we don't add value to it. And the only way we can see the value in our raw materials is to produce as many science and engineers as possible. I believe that Ghana, if we produce 150,000 engineers every year over 10 years, all engineers will study African history from first year to fourth year. So that grounds them. They know that the reason why they are being trained as engineers is to help our society. Derek, in 10 years you will see what Ghana will become. Because out of the 250,000 over 10 years, that's 1.5 million engineers. Are you telling me we won't get two or three people who are so brilliant that they will push our country forward? It's a numbers game. That's where other people, Russians, Chinese, Americans, Japanese, Koreans have mastered. We can do the same thing here. Engineering science is applied skill. You don't. Okay. I was a C student in university Right. C student. But when we used to go to the lab, I was truly, truly fantastic. So when we went to industry. Now the reason why I was a C student is something, okay, just that's how I am. Something that somebody has done. What is the interest in me? Because we know the results anyway. Now when we have to come up with no new products, oh my gosh, things that were taking people two years, I did in three weeks. I am that great. And I have the awards to prove it. So if we can get so many of our kids, expose them to this, Derek, I'm telling you as a fact, we will change our society.

[B]

I have one big man who loves to watch my podcast.

[A]

Yes, sir.

[B]

And I'm sure he's going to be watching this one as well. Big man senior. When you see this one and you want to have a chat with Mr. Fred about how we can progress on some of these topics in our country, please reach out and let's have this conversation. What you're saying is marvelous. It's amazing. We're having buildings breaking down, we're having people who are not qualified that are building products, whereas people can actually be trained and then, you know, offer support for these people. But then it's not happening. They also, the other issue is that you train people and they travel abroad. Look at our nurses. The UK took them all.

[A]

Once again, the African history that's not attached to engineering or the science of their program, African history has to be.

[B]

Their biggest problem is that they are not being paid well. That's what they say.

[A]

Okay.

[B]

They are not being remunerated well for the work they put in. How do we solve that?

[A]

Okay. Do you know this will be controversial? Has anybody sat down and looked at the pay rates of people in Vietnam, China, India and all those places? Has anybody done that? That's why I'm saying at times you have to look beyond just yourself and your comfort. Maybe just said because they say, oh yeah, he went and lived abroad. But at times as a society, that's where you know, Derek, you have to grab some deep. At times you have to grab things by the horns and drag it. So if you think about just you and your well being, so all doctors and nurses should leave the country. You forget your mom lives here, your parents live here. So that's what I'm saying. If we add the African history to things, Derek, it just becomes more than just you and your comfort. And these people will say Ghana is difficult. When you go abroad, give them five years. At one point, I think when I Was in Ghana. I think it wasn't that bad. I know so many of them. So many of them. So what has changed is the allure of living in the west that most people I even. I have people even forget about money. There's this friend of mine who is doing so well doing this fast clothes. She brings it from China, flips it. She told me she's leaving to Canada too. She says every day she makes around 3,000 cities a day. Young lady, 22, 23 says he's leaving and going to Canada. I told her, madam, call your family in Canada. How many of them make $350 a day? You are leaving to go up? Of course he wants to go do masters. I think they said. They just said they are not getting enumerated well because they look at the short term. Or maybe one of their siblings or friend went to Canada within UK within a year or two they bought a house, this and this. But they don't look at the long term game. How many people abroad have two, three homes? Best like in your. Let's say I'm a. I'm an engineer, I'm a doctor, a doctor abroad. A doctor Ghana over the lifetime. How many of them, let's say who owns three, four, five homes. Just look at yourself, one home abroad, big house. But the person in Ghana might have multiple homes, multiple apartments. Look at your cohorts, what you do over time, not just maybe five years.

[B]

Then there is a certain group of people, our own black people who become so attached to the Western press, they don't want to come back home. Some of those people, maybe they were.

[A]

Born there, they don't even want to.

[B]

Don't want to have anything to do. What do you tell them?

[A]

We have no problem with that because you can't change them. You don't put resources on things that you can change. You put resources on things you can change. There's still also a cohort of them who would want to come. We have to facilitate things and make it easier for those who want to come. Those. Yeah, there's nothing wrong with immigration is going to be with people. As long as human beings are alive, there's going to be immigration. People be moving around like it's going to be with us. So those who want to say that there's nothing wrong with them though if you are there, try and get as much as you can. If you say you are not going to come back, get as much as you can for you and your family. Those who are here just understand that globally only 3% of people move out of where they are born globally. So if you are here and you are in your twenties, if you take hundred of you, only three of you will be able to move out. So make here comfortable for you. And if you make your comfortable and you want to go out, it's going to be easier. If you have the money and you want to go get visa and go abroad, it's easier at 14. Yes sir.

[B]

3Am yes. On the 24th of August.

[A]

Yes.

[B]

My stepfather called me and I sat on his bed the following morning I was supposed to travel. My father was taking me abroad and he said I'm so happy you're traveling. Your father is taking you abroad while you're going. Remember this country is what made you who you are today.

[A]

Yes.

[B]

And when you go and things work out, remember if it doesn't work out, this is where you come back to. That was the best advice I ever.

[A]

I also heard the same thing before I left for abroad. My dad's big brother passed away, 2013 told us the same thing. That's the legacy I'm talking about. They see you, they know you, you'll be better. Go and learn. As I was saying, they've taken you out there. Go and learn all the tricks and bring it home. Make your people better. And I tell you Derek, you are even from your own expression, I think you enjoy living here.

[B]

Mr. Fred.

[A]

Thank you sir.

[B]

Motivation or discipline?

[A]

Discipline.

[B]

What's the best advice you've ever received?

[A]

I think from my aunt, unfortunately she passed away. She was my mom August. I was right by her when she passed away. She told me Fred, work in all things work. I'm grateful for that. Wow.

[B]

Are you really fulfilled?

[A]

Is the best time of my life. And this coming from someone who at one point in my career abroad. Corporate card. Unlimited corporate card. Go to airport. You show your corporate card. You don't go through it. They have a special place for you. Managed over 50 people worked from the coatings industry. Fiber reinforced plastic. Fiber reinforced plastics is just what they use for making planes. Formula one cars. Fiberglass to oil and gas to lubrication, to spray foam. Polyurethane. Develops products for some of the largest companies in the world. Largest award winning chemists abroad. And I'm seeing best time of my life living in Ghana. You say something.

[B]

I love it. Thank you so much.

[A]

You're welcome Derek. And it's a pleasure.

[B]

Yeah, I really appreciate you. We first met through our senior minds.

[A]

Salute to you.

[B]

He's the man of. He's the legend. Yes, that's what we call him. And to my listeners and my followers, thank you so much for being a part of the family.

[A]

And if you made it to the.

[B]

End, I'd like to know in the comments and know that indeed, you are.

[A]

One of my champions.

[B]

Thank you. My name is Derek Abite, and I'm out.