Dr. Kwabena Duffuor’s journey as a successful businessman began in the 1980s, when he founded his first company, Star Assurance, in 1984. As he recounts: “I set up my first company in 1984. Star Assurance was set up in 1984. I opened my doors in 1985, April. It’s an old company and it has grown.”
From this initial insurance venture, Dr. Duffuor went on to build a business empire spanning multiple industries. He explains: “We have so many companies out of Star Assurance. They are supporting me and doing what I’m doing.”
One of his most prominent ventures was uniBank, which he founded in 1997. Though the bank later faced challenges, Dr. Duffuor notes that during his active involvement, it performed well:
“Look at the position of Unibank in 2012 when I was a minister. 2016, when John Mahama left office. And now, look at the position.”
Dr. Duffuor credits his business success to putting Ghana’s interests first, even when it meant imposing taxes on his own companies as Finance Minister:
“I have to save Ghana before I save my companies. So I did that. Out of desperation. Ghana must be saved.”
His business acumen led to appointments on numerous corporate boards, including Accra Brewery Limited, Shell Ghana, Ecobank Cote d’Ivoire, Ghana Cocoa Board, and others. Dr. Duffuor sees his companies as vehicles to help develop Ghana:
“They believe that there’s a need for a change. It was for money to save people. We’ve achieved a lot.”
Throughout his career, Dr. Duffuor has maintained that business success should serve the national interest:
“I enjoy doing such things. You understand me? I believe that money is from God.”
This philosophy of using business to benefit Ghana has been a driving force behind Dr. Duffuor’s entrepreneurial journey and success over the decades.
Inspiring Net 