ADAMU IDDRISU & FAMILY

$550 Million

FOUNDER, THE ROYAL BANK 

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Age: 80

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Wealth: SELF MADE, DIVERSIFIED

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Known For: GLOBAL HAULAGE LIMITED, THE ROYAL BANK

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OVERVIEW

In the early 1950’s, Alhaji Adamu, secured his first contract as a sawn timber supplier to GNTC, a successor of A. G. Leventies. From then on Alhaji went on to acquire other contracts to cart goods for A. G. Leventies, Cocoa for Ghana Cocoa Marketing Board and fertilizer for the Ministry of Agriculture. 

By 1996, on realizing the need to expand his transport business Alhaji set up A. A. Iddrisu Transport which later became Global Haulage Ltd.

As of 2014, Global Haulage operated a total number of 388 trucks for various haulage roles. These are made up of 271 Articulators, 111 Cargo trucks. 

Global Haulage has been involved in Cocoa evacuation since 1961 mostly for the Cocoa Marketing Board. Global Haulage from 1997 started setting up a number of Licensed Buying Companies (LBCs) to support the haulage sector of the company, and to increase profitability. These are – Federated Commodities Limited (FEDCO), Transroyal (GH) Limited, Cocoa Merchants (GH) Limited and Royal Commodities Limited (CROCO). This group forms the second largest internal marketing entity in Ghana. 
He passed away on the 26th of July 2016.

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NET WORTH SUMMARY

Alhaji Adamu obtained most of his fortune from hauling commodities mainly cocoa. During the 2012/2013 cocoa crop year, Global Haulage hauled 146,061.57 tons (2,322,590 bags) of cocoa for the Cocoa Licensed Buying Companies (FEDERATED COMMODITIES, TRANSROYAL (GH) LTD., COCOA MERCHANTS LTD and ROYAL COMMODITIES LTD.) which are the major clients of Global Haulage.
Global Haulage is also a major hauler of agro-chemicals and fertilizer for COCOBOD and the Ministry of Food and Agriculture of the Republic of Ghana. Most of these goods originate at the ports and are hauled to the hinterland.

Global Haulage hauls the largest tonnage of cocoa in Ghana. During the last main crop cocoa season (2011/2012) Global Haulage hauled 193,507 tons of cocoa to the ports representing 22.01% out an annual total of 879,348 tons of cocoa purchased by COCOBOD. Global Haulage also provides warehousing facilities for cocoa and is also involved in real estate.

Alhaji Adamu Iddrisu is also the founder of THE ROYAL BANK which had total assets of GHC 439.3 million as at 31^st December 2014. His children own majority shares in the Bank; Abdul Aziz; a director at the bank is the majority shareholder with 39.59% followed by Abdul Mumuni who owns 23.99%, Fatima owns 22.9% with Abdul Zakou having 4.46% whiles Hawa owns 3.93%.

Alhaji also set up the The Royal Bank (TRB) Foundation which is currently providing 50 boreholes in 50 deprived communities (in the country) in need of clean water. This is to address the water shortage problems in rural communities and deprived areas across Ghana.

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