“In this world there is nothing good or bad, thinking makes it so,” although he is no more on the land of the living, these words of his that signify resilience and positivity continue to live on. Ghana was hit with a big blow on Saturday, March 1, 2025, following the demise of Alhaji Asoma Abu Banda. The deceased was a distinguished business mogul who pioneered a lot of businesses in the country’s aviation and shipping industry.
Apart from being a renowned businessman, he was a philanthropist, a devout Muslim, and a politician who has duly paid his dues in Ghana’s political space. Alhaji’s rise to fame and success in the world of business is a story of resilience, resistance, and tenacity. It is a story that should offer an inspiration and hope to young entrepreneurs aspiring to attain higher heights in the world of business.
As the world joins Ghana to mourn and celebrate the life of a man whose existence impacted many lives, The High Street Journal has compiled a detailed profile of him to enable our audience to fully appreciate who Alhaji Asoma Banda was.
Early Life & Education
The late Alhaji Banda was born in 1933 in Kintampo. This indicates he lived during the colonial period and witnessed the struggle for independence. At independence in 1957, he was 24 years old. No member of his family had formal education. As a staunch Muslim family, he says his father barred any family member of his from attending school due to the fear that they might be converted to Christianity. This is because almost all the schools around were mission schools.
He counts himself very lucky after a stranger who had come to Kintampo to work was able to convince his father to let him to go school despite initial resistance. He began his education in Kintampo and later continued at Government Boys School in Kumasi after his father moved to Kumasi. Later he moved to Accra to continue his life. Against the wish of his father, he travelled to London to further his studies. He obtained Ordinary and Advanced Level Certificates, and as well as a diploma in Marketing and Sales Management.
He says the college education is the highest level of education he had. He never had any university education in his life. However, he was able to rise to the very top in the field of business.
The Journey to His Business Empire
The late Alhaji Banda can be said to have gained his business acumen and entrepreneurial insights from his boyhood since he was born into a business-oriented family. Between 1955 and 1957, he took on the demanding task of purchasing cattle from Mali, Niger, and Upper Volta (now Burkina Faso), personally overseeing their transport on foot to Kumasi.
Alhaji Asoma Banda confirms that he began his own life after school in London with the savings he made from the stipend he received as a student under Dr. Kwame Nkrumah’s scholarship which was 39 pounds a month. He got a well-paying job in an international organization after his studies in London. After working with this organization as the Director for Africa and Middle East for some time, he proceeded to build businesses of his own.
He began with shipping which he says emanated from the interest he has nurtured in the transport business since his father was also into transport. It all started when he travelled to Saudi Arabia in search of customers for his company. He says his hotel in Jeddah was facing the old Jeddah port so he was having his afternoon prayers when he saw a ship offloading without a crane. His interest peaked and immediately after the prayers, he went to the port to have a critical look. That was how he began his shipping business despite the discouragement from his friend who felt the venture was too risky and expensive.
This journey began in 1975 when co-founded his shipping company in London; OT Africa Line, along with the Antrak Group of Companies in both London and Ghana. His exceptional leadership and keen business insight have driven the expansion of his enterprises, which now boast over 146 branches worldwide, providing employment opportunities for more than 500,000 people.
As the visionary Chairman, Antrak Air became Ghana’s first wholly owned airline playing a pioneering role in the country’s aviation sector. Partnering with international investors, he facilitated a $10 million investment (approximately 70 billion cedis) to establish the Tema Container Terminal, generating around 100 jobs and further strengthening the nation’s logistics infrastructure.
Philanthropical Legacy
The late Alhaji Banda is one Muslim who took his Zakat very seriously. He gave back to the society more than he took. As a devout Muslim, he financed the construction of a mosque in the Airport Residential Area of Accra at a cost of $1 million, providing a place of worship for the community.
In 1999, Alhaji Banda played a pivotal role in securing funding from Antrak Group of Companies (Ghana) for the reconstruction, refurbishment, and maintenance of the maternity wing at Korle Bu Teaching Hospital. This significant project, undertaken at a cost of nearly one billion cedis, enhanced healthcare facilities and improved maternal care services at the hospital.
He also founded the Crime Prevention Foundation to help resource the Ghana Police Service and other security agencies. He has also constructed a female Cell for Nima Police Station in Accra.
Exploits in Politics
It is safe to say Alhaji was a staunch Nkrumahist since he was a young boy. He was a member of the Young Pioneers of the CPP who were ardent believers of Dr. Kwame Nkrumah. His love for the CPP was also against the wish of his father yet he soldiered on. He has recounted how he moved from Kumasi, also against the will of his father, to Accra to join a group of people who were chased out of Kumasi because of CPP in a house at Adabraka.
That house, he said, housed the first parliamentarians Kwame Nkrumah got from the Ashanti Region. After the overthrow of Nkrumah and the CPP was subsequently banned, with the help of others, he founded the People’s Convention Party (PCP). He became the chairman but later went to court to change the name back to CPP.
He singlehandedly led the formation of the Great Alliance where CPP merged with the UP Tradition in 1996 for the elections. It was the Great Alliance, spearheaded by Alhaji Banda which had President Kuffour and Ackaah of blessed memory as flagbearer and running respectively.
Public Life & Recognitions
Without any university education, except a college education, he became the Chancellor of the University of Education, Winneba. He also served on the boards of the defunct Ghana Airways, Cal Bank, Ghana Ports and Harbours Authority, Ghana Maritime Authority, Shippers’ Council among others.
He has also served as a member of the Council of State and received various recognitions.
Alhaji Banda’s outstanding contributions to leadership, entrepreneurship, and national development have earned him numerous prestigious accolades.
In 2003, the All African Students Union honored him with the Kwame Nkrumah Leaders Award in recognition of his exemplary leadership and unwavering support for youth and students across Africa and the Diaspora.
His philanthropic efforts were acknowledged in 2002 when he was awarded the title of Fellow of Kwame Nkrumah University of Science and Technology (KNUST), Kumasi, during the university’s Special Golden Jubilee Congregation.
He has also been recognized with two honorary doctorate degrees: a Doctor of Entrepreneurship (Honoris Causa) from the University of Cape Coast and a Doctor of Science (Honoris Causa) from KNUST, celebrating his influence in business and academia.
In the maritime sector, he was presented with the West Africa Maritime Lifetime Achievement Award in 2009, alongside his shipping company, which was twice named Best Shipping Line of the World in 1999 and 2000. His contributions to aviation were recognized with the Golden Star Award for Aviation Operations in West Africa (2009), while the Brong Ahafo Region honored him with a Silver Award during its 50th-anniversary celebrations.
The Lesson
This is one of the lives that can be described as well-lived considering the positive mark he made in the world, Ghana’s socio-economic development, and the impact on many lives. He passed away on March 1, 2025, at the age of 92. His death marked the end of an era, but his legacy as a visionary entrepreneur and philanthropist endures, inspiring future generations.
Alhaji Asoma Banda’s life journey from humble beginnings to becoming a magnate in Ghana’s business landscape exemplifies dedication, resilience, and an unwavering commitment to national development. The High Street Journal joins the rest of the world, Ghana and his family to celebrate a life well-lived and full of impact.
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