Episode Overview

Podcast: Konnected Minds Podcast
Host: Derrick Abaitey
Guest: Mr. Fred (entrepreneur, chemist/scientist, and business founder)
Episode Title: Stop Waiting for Easy - Why Building in Ghana Means Solving Problems Others Won't
Date: January 13, 2026

In this episode, Derrick Abaitey explores the mindset, grit, and practical realities of building a business in Ghana with guest Mr. Fred. They discuss personal and professional setbacks, the necessity of relentless problem-solving, and the unique challenges and opportunities of entrepreneurship in Africa. Mr. Fred shares candid stories of devastating setbacks—like factory fires and betrayal—and unpacks why resilience and resourcefulness are non-negotiable when building something meaningful in Ghana.

Key Discussion Points & Insights

1. Overcoming Devastating Setbacks in Business

• Factory Fire & Aftermath (00:00–03:29):

  • Mr. Fred recounts the shock and emotional toll when his new factory, stocked with fresh raw materials, was found burning at 1:00 AM.
    • “As soon as the raw materials came the next day, early in the morning, 1:00am… I had about 30 missed calls… they said the factory is on fire.” (Mr. Fred, 00:03)
  • Despite no apparent electrical fault (no electricity connected), the fire service dubbed it ‘spontaneous combustion,’ which Fred doubted was plausible given the materials involved.
  • He lost nearly $50,000 in equipment and materials, guttingly sharing:
    • “I was in the washroom crying. My wife came in, saw me crying… the factory is on fire…” (Mr. Fred, 01:03)
  • The person who helped put out the fire was later hired as caretaker, then ultimately stole 500,000 cedis in goods—leading to a criminal trial and jail time.
  • Fred highlights the importance of learning from these “lapses” but rejects the notion that these issues are uniquely ‘Ghanaian’:
    • “People take the path of least resistance… It’s not just Ghana, it’s worldwide.” (Mr. Fred, 02:29)

• Another Explosion & Continuous Adaptation (03:00–03:29):

  • A second fire, this time with Fred present, required direct action:
    • “I went in the burning poor house with fire extinguishers, managed to calm it down…” (Mr. Fred, 03:14)
  • Root-cause analysis revealed heat and ventilation issues, prompting investments in new ventilation and safer storage—demonstrating relentless adaptation.

2. Mastering Relentless Problem-Solving

• Entrepreneurship = Problem Solving (03:29–04:04):
  • Derrick and Fred agree that, above all, successful entrepreneurs must master problem-solving skills.
    • “There’s a skill that you are going to end up mastering—problem solving skills.” (Derrick, 03:29)
  • Fred’s scientific training is cited as a vital asset in this mindset of continuous troubleshooting.

3. Mindset: Resilience and the “No Sleep” Hustle

• Sacrifice and Hard Work (03:46–04:25):
  • Fred shares his grueling work schedule: “There are nights I go to bed around 1am, 3, 4am and up. People send me messages at 2am… I’m like, money doesn’t sleep.” (Mr. Fred, 03:46)
  • Responsiveness and tireless effort are presented as non-negotiable for African entrepreneurs.

4. Family Tradition and the Making of an Entrepreneur

• Nurture over Nature (04:25–07:00):
  • Fred traces his entrepreneurial drive to family influence:
    • His father, a top professional, also ran businesses into his old age.
    • “He’s still working. While his friend and his colleagues are long retired. Still working.” (Mr. Fred, 04:29)
  • Of eight siblings, half are already entrepreneurial—others, he predicts, will follow.
    • “Entrepreneurs are nurtured… because of the upbringing and me seeing, that’s all they did. By default, subconsciously, you’ve seen them doing it.” (Mr. Fred, 05:45)
  • Derrick notes the deep-seated “seed” of entrepreneurship, suggesting shared values and experiences have a delayed but inevitable impact.

5. Financing a Ghanaian Startup: Sacrifice and Strategy

• Startup Capital & Western Leverage (07:00–End):
  • Over ten years, Fred (and family) invested around $500,000 US into the business—a substantial sum for Ghana.
    • Most of this investment came from his own savings and labor abroad.
  • Fred explains his strategy for raising seed capital in the West:
    • “If you live in the West, the fastest way to get access to capital is through real estate. So initially I purchased my first home in 2011… I did that for one year to raise the needed capital.” (Mr. Fred, 07:40)
    • He worked two jobs—professional by day, factory hand at night—to afford the down payment and start accruing equity as future business funding.

Notable Quotes & Memorable Moments

• On Problem-Solving:

  • “There’s a skill that you are going to end up mastering—problem solving skills. And as a scientist you do that a lot.” (Derrick, 03:29)

• On Human Nature and Accountability:

  • “People take the path of least resistance. 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.” (Mr. Fred, 02:29)

• On Resilience:

  • “We dusted ourselves off and keep continuing.” (Mr. Fred, 01:38)

• On Tireless Leadership:

  • “People send me messages at 2am they’re like, Mr. Fred, you don’t sleep. I’m like, money doesn’t sleep.” (Mr. Fred, 03:46)

• Entrepreneurship is Learned:

  • “Entrepreneurs are nurtured… because of the upbringing and me seeing, that’s all they did. By default… you’ve seen them doing it.” (Mr. Fred, 05:45)

• On Raising Capital:

  • “If you live in the West, the fastest way to get access to capital is through real estate.” (Mr. Fred, 07:40)

Important Timestamps

• 00:03 – Mr. Fred recounts the night his factory burned down
• 01:03 – Vulnerability: crying in the washroom after the fire
• 02:29 – Reflection on theft and human nature
• 03:14 – Second fire and hands-on response
• 03:29–03:43 – Problem-solving as the core entrepreneurial skill
• 03:46 – “Money doesn’t sleep”—discussion of work ethic
• 04:25–05:43 – Family background, entrepreneurial nurture
• 07:00–07:43 – How Fred funded his business via work and real estate strategy

Summary Tone & Closing Thought

The episode is candid, gritty, and motivational—showcasing both the pain and pride intrinsic to building a business in Ghana. Host Derrick’s tone is supportive and probing, while Fred’s is open, humble, but fiercely determined. The message is clear: “Stop waiting for easy”—progress comes only from engaging with hard problems, nurturing resilience, and leveraging every resource at your disposal.

For more inspiring conversations on entrepreneurship and mindset in Africa, check out Konnected Minds Podcast on YouTube or Instagram.