When Kwaku Oteng was learning carpentry in the Ashanti Region in the 1980s, nobody was predicting that he would one day own a television station, a radio network and one of Ghana's most recognisable consumer brands. But that is exactly what happened, and the story of how it happened is one of the most instructive in Ghanaian business.
Kwaku Oteng
Founder of the Angel Group of Companies. Estimated net worth: $300 million. Read full profile →
The carpentry years
Born in 1966 in the Ashanti Region, Kwaku Oteng grew up in a modest household and trained as a carpenter. It was a practical skill and it gave him an income, but it was not where he intended to stay. He had a sharper eye for business opportunity than most, and he was willing to wait for the right one.
Adonko Bitters, the product that changed everything
The pivot that defined his career was the creation of Adonko Bitters, an herbal alcoholic drink that became one of the most recognised consumer brands in Ghana. It was not an overnight success. He worked on the formulation and positioning of the product for years before it caught. But when it did, the revenues gave him the capital to expand in directions that had nothing to do with beverages.
Building the Angel Group
Today the Angel Group of Companies spans broadcasting (Angel TV and a network of Angel FM radio stations across multiple Ghanaian regions), the Adonko Next Level premium spirit brand, real estate and hospitality. The radio network in particular has given Oteng a presence in regions of Ghana that many Accra-based media companies have never reached effectively.
He is not a man who courts the limelight the way some of Ghana's other business moguls do. He has rarely given long interviews and has not been the subject of many profiles. The business does the talking.
What the story teaches
The Kwaku Oteng story sits alongside Joseph Siaw Agyepong and Osei Kwame Despite as evidence that the most consequential Ghanaian entrepreneurs of the modern era did not start with capital, connections or credentials. They started with a product, a willingness to reinvest every cedis they made, and enough patience to let the compounding work.
He is estimated to be worth $300 million. The carpenter from Ashanti built that from scratch.
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