MICHAEL AGYEKUM ADDO

MICHAEL AGYEKUM ADDO

$270 Million

CEO, KAMA GROUP OF COMPANIES

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Wealth: SELF MADE, PHARMACEUTICALS

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Education: KWAME NKRUMAH UNIVERSITY OF SCIENCE & TECHNOLOGY, BACHELOR’S DEGREE, PHARMACY, MASTER’S DEGREE, INDUSTRIAL MANAGEMENT

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Known For: KAMA

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OVERVIEW

Dr. Agyekum Addo started his business with the opening of a pharmacy in Kumasi in the Ashanti Region. Due to difficulties he faced in raising the requisite capital to start his business, all the inputs needed to commence operations were bought using credit (rent, furnishings and stock). In 1986, he began manufacturing products in his garage. Kama Health Services now has 11 outlet pharmacies in six regions in Ghana and currently represents eight multinational manufacturing companies.

He was honoured with the degree of Doctor of Science (Honoris Causa) in 2005 by KNUST in Ghana.

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NET WORTH SUMMARY

Kama Industries manufactures medicines for both the local and international markets. The company produces 42 different drugs.

From a humble beginning of buying stock on credit and a turnover of under US$1,200 in 1983, the annual sales revenue of the company reached US$4.9 million in 2000 and over US$12.5 million in 2010.

Kama currently exports 10% of its total production volume to Liberia, Sierra Leone and Nigeria.

Dr Addo has built his business into the Kama Group which now employs over 400 staff and boasts 11 wholesale and retail outlets across Ghana, two pharmaceutical factories, a micro-finance firm, real estate business and a multi-purpose conference centre. 

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