Richard Nii Armah Quaye
RNAQ Holdings, a private holding company, has launched a GH¢300 million ‘Scale-Up Fund’ to boost existing Ghanaian businesses.
The launch, held yesterday in Accra, brought together over 500 participants who among others interacted with business leaders including the President of RNAQ Holdings, Richard Nii Armah Quaye.
The strategic investment initiative is a collaborative effort between RNAQ Holdings and Quick Angels, which focuses on supporting ventures that have proven business achievements, but in their early stages.
According to RNAQ Holdings, the Scale-Up Fund will offer a unique opportunity for Ghanaian entrepreneurs who are between the ages of 20 to 45 years and are already operating businesses as well as ready to scale up opportunity to pitch their business plans to receive funding support.
The launch, which also featured a panel discussion by the Chief Executives of some companies under RNAQ Holdings, discussed with participants various strategies and preparedness businesses need in order to become successful.
Participants, who commended RNAQ for the initiative to support existing businesses as well as sharing their experiences in establishing successful brands, also asked questions on the business pitch, which is expected to start on Monday, November 3, 2025.
RNAQ Holdings holds equity in several leading entities, including Quick Angels, Bills Micro Credit and the RNAQ Foundation.
Speaking at the launch, President of RNAQ Holdings, Richard Nii Armah Quaye, cited several businesses such as Pizzaman Chickenman, Oya Micro-Credit, Sankofa, Burger King, King Ranch, and Pinkberry as examples of enterprises that started with a clear vision and have since achieved remarkable results.
Mr. Armah Quaye also mentioned that through vision and determination, many small dreams have become national brands while others have also taken steps toward global relevance.
That, he stated, was not achieved because the people involved were related by blood, neither were they friends nor hailed from the same tribe.
He indicated that most of them pooled their resources together and eventually succeeded to become global brands without conflict.
He further stated that successful businesses in advanced economies are rarely owned by one person but rather a diverse group of people who bring unique strengths, resources, and capital to the table.
“The Scale-Up Fund, with GH¢300 million behind it, reflects one clear belief; Ghana has abundant talent and innovative ideas, but what it often lacks is the capital and systems necessary to scale businesses effectively,” he stressed.
“The Scale-Up Fund is specifically designed for entrepreneurs who have already taken the first step; those who have proven they can start a business but now need the support to scale properly. It’s a fund built for execution, offering the resources and guidance required for businesses to thrive,” he noted.
Mr. Armah Quaye also pointed out that most of the world’s successful businessmen don’t own a majority stake in the companies they founded, and therefore expressed confidence in the next generation of entrepreneurs.
“Owning 1% of greatness is better than 100% of nothing. I encourage all Ghanaian entrepreneurs to open their businesses to equity investors, scale up their operations, and focus on long-term growth,” he stressed.
He noted that smart entrepreneurs attract outside resources by giving up a portion of their stake in exchange for significant capital, which could propel the business to greater heights, citing the example of Elon Musk, who owns only 13 percent of Tesla, Jeff Bezos who owns 10 percent of Amazon, and Bill Gates who owns less than 1 percent of Microsoft.
By Ebenezer K. Amponsah