- Ibrahim Mahama Urges Ghanaians to Overcome Fear and Build Ambitious Businesses
Ghanaian businessman Ibrahim Mahama has urged aspiring entrepreneurs to overcome their fear of failure and pursue ambitious commercial ventures capable of transforming the country’s industrial economy.
Speaking during the fifth-anniversary celebration of Dzata Cement in Tema, Mr Mahama said Ghanaians must be prepared to enter business, take calculated risks and build companies in sectors traditionally dominated by foreign investors.
“There are other ventures that I want to prove to Ghanaians that we can’t always be beggars and we can’t only just be employees to foreign companies,” he said. “We can build it ourselves.”
His comments point to a longstanding weakness in Ghana’s private sector: although the country has a large number of small businesses, relatively few indigenous companies have developed the capital, managerial capacity and technology required to compete in heavy industry.
Cement manufacturing is among the sectors in which entry barriers are particularly high. Establishing a plant requires substantial financing, imported machinery, technical expertise, dependable energy and logistics infrastructure, as well as the capacity to compete against established multinational producers.
Mr Mahama said the idea of establishing Dzata Cement emerged from his earlier involvement in cement transportation and mining contracting.
While working as a transporter, he followed some of his trucks to a cement facility in Takoradi, where he observed the production process and concluded that a Ghanaian-owned company could establish a similar operation.
“I looked at the structure and said, look, I could build one,” he recalled.
He subsequently travelled to Germany to engage equipment manufacturers and approached banks for financing. The project encountered considerable financial and operational difficulties during construction and equipment installation, requiring support from family members, financial institutions and business partners.
The account underlines the difference between encouraging entrepreneurship and creating an environment in which indigenous enterprises can scale. Ambition may start a business, but long-term survival requires patient capital, predictable regulation, technical competence and access to markets.
Mr Mahama acknowledged distributors who supported Dzata Cement during its formative period, particularly when the company experienced difficulties raising funds to clear imported cement and other materials.
“They all joined hands together, the cement came, we allocated it to them, and then Dzata Cement started,” he said.
He also recognised the role played by former Trade and Industry Minister Alan Kwadwo Kyerematen in supporting the establishment of the company under the previous administration.
“Alan, wherever you are, I’m giving you a thumbs up,” Mr Mahama said. “Thank you very much for standing behind us.”
Mr Mahama’s message extends beyond the establishment of individual businesses. It raises a broader question about the ownership structure of Ghana’s productive economy.
Many Ghanaian entrepreneurs remain concentrated in trading, retail and relatively small service businesses. These sectors are important for employment, but they do not always create the industrial capabilities required to reduce import dependence or retain more value within the economy.
Moving domestic capital into manufacturing, mining services, construction materials and other capital-intensive industries could increase local ownership while creating demand for engineers, technicians, transport operators and other skilled workers.
Yet the transition cannot depend on courage alone. Ghanaian businesses frequently face high borrowing costs, limited access to long-term finance, exchange-rate volatility and delays in obtaining regulatory approvals.
Policies designed to promote local enterprise must therefore distinguish between protecting inefficient businesses and creating fair conditions under which capable domestic companies can compete.
The Dzata Cement anniversary also highlighted some of the operational challenges associated with industrial growth.
Tebon Zumah, Director of Ports at the Ghana Ports and Harbours Authority, expressed concern about dust generated through the use of grabs and hoppers in handling cement at the ports.
He said the authority was considering modern systems and would challenge cement manufacturers to adopt handling methods that eliminate visible dust when vessels are at berth.
The planned intervention reflects the need to balance industrial expansion with worker safety, environmental protection and the modernisation of logistics infrastructure.
Philip Adai Mensah, Dzata Cement’s Group Human Resources Director, also encouraged employees to demonstrate loyalty, dedication, service and perseverance, arguing that these values were essential to both institutional growth and personal development.
For Mr Mahama, Dzata Cement’s first five years provide evidence that locally owned businesses can enter industries once considered beyond the reach of Ghanaian entrepreneurs.
The more difficult challenge is translating that example into a wider ecosystem in which promising businesses can secure finance, acquire technology and survive long enough to become competitive industrial companies.
His central message was nevertheless direct: fear of failure should not become a permanent barrier to Ghanaian ownership.
“We can build it ourselves,” he said.
