Entrepreneurship Zone: 14 March 2025 : Ghana: Entrepreneur grows electronics business to 16 stores within a decade

Fri Mar 14 11:08:51 CAT 2025

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Entrepreneurship Zone: 14 March 2025 : Ghana: Entrepreneur grows
electronics business to 16 stores within a decade

 <https://www.firstcapitalbank.co.zw/> 

 <http://www.oldmutual.co.zw/> Kab-Fam Ghana specialises in the retail of
electronics and home appliances. The company is currently working on opening
its 16th store with a target to increase its market share to at least 50%.
Maureen Ihua-Maduenyi asked the founder and chief executive officer, Charles
Antwi-Boahen, about how he built the business and utilised opportunities in
online marketing.

Tell us how the idea of Kab-Fam came about.

I didn’t plan to open a retail business initially. I had worked as a
salesman in a central air-conditioning system retail company, which is now
defunct. The company sold only central units but people kept requesting
split unit air conditioners. I identified a need and went to Electroland – a
distributor of electronic brands in Ghana – to see what it could offer. I
saw the margins on its products and realised we could do business. I would
refer buyers to Electroland and was paid a commission. The founder
recognised the potential and gave me US$60,000 to start my own retail
business.

What were the early days of Kab-Fam like?

In the beginning, people didn’t know the company. We had to make so much
noise to encourage buyers. Online marketing was, and still is, a big part of
our growth. I advertised on Google Trader back in 2012 for the company I
worked for. When I started out on my own, I continued to post on Google
Trader and people would call me. I didn’t have a showroom. I would source
supplies from Electroland where I had already created an account and was
paid from the margin. This continued for some time with a decent turnover
before I registered Kab-Fam in 2013.

In 2014, I rented my first shop from the $60,000 I got as a soft loan,
which I paid off over five years. The following year, a power crisis in
Ghana set us back. People were not buying and the business went down
drastically.

In 2016, we bounced back and opened a new branch in Kumasi. We expanded to
10 additional locations within five years by reinvesting our profit.

We have opened four new stores this year and are working on the fifth,
bringing the number to 16.

Apart from the $60,000 from your supplier, where else did you receive
funding?

It was just the $60,000 I got from my supplier; I have never taken a loan
from any bank. I am wary of loans, so am very disciplined with money. I have
studied many big companies doing well, and I discovered that they are very
prudent with money and reinvest. That is what I do.

>From where do you source your products?

I still work with Electroland as the company’s sole supplier. When we
opened our business, Electroland was still growing. Today, it controls about
50% of Ghana’s electronics and home appliances market. Kab-Fam is their
number one retail partner.

Some manufacturers have approached me directly but what the local supplier
is giving us is way better. I value relationships. Unless someone is
bringing in something different, there is no need to look elsewhere for now.

Share some of the challenges you have faced in building Kab-Fam.

The major hurdle I face – much like other businesses in Ghana – is human
resources. I have to watch everybody and it is not easy because people run
the systems. That has been my biggest challenge as an executive. The company
now has stringent systems in place to mitigate losses.

Kab-Fam sells a variety of electronics and home appliances.

Explain how the company attracts and retains customers.

I don’t play around with marketing; especially online and social media. We
also do TV, radio and billboards. I am a marketer and that is our strategy.
On Facebook, our page has over 800,000 likes and we are also strong on
Instagram. My success has been from online marketing. It is where I started
and where we continue to thrive.

So, I don’t see anyone as a threat when it comes to competition. I believe
we are on the right track; we have to continue engaging in marketing and
opening as many branches as possible. Every branch is like a new company
with revenue, so the more the better. We now have about 10% market share
with over 90 employees.

What changes are you seeing in Ghana’s retail industry?

E-commerce is the new crude oil. As much as customers want to come to the
shop to buy, most want to do it online and have goods delivered.

As I mentioned, online marketing is very important. We are where we are now
because of that; any retail business that wants to do well cannot make it
without marketing its products on social media. People see the products,
businesses or services online, which is the best way to reach out to
customers and it has worked magically for Kab-Fam.

Consumer tastes evolve with the times; they know everything thanks to the
influence of the internet. In terms of electronics, things change just like
every other aspect of technology. We try to go with the trends, the business
can’t be stagnant.

Where does Kab-Fam go from here?

Ghana is big, and we are not done with it yet. I will not rush into
anything. I try to exhaust what is available before considering other
options.

We have not yet captured 50% of the market, so we shouldn’t be looking
outside. Once we have 30 to 40 shops, we may consider expanding into other
countries. Right now, our focus is on opening as many branches as possible
in Ghana.

Charles Antwi-Boahen, founder and CEO of Kab-Fam Ghana.

—Howwemadeitinafrica

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