In Ghana, the name Kwame Despite is among the most searched on the internet. With an estimated net worth of around 950 million USD, he is rated as the third richest man in Ghana after Ernesto Taricone and Sir Sam Jonah in position 1 and 2 respectively. Born on 2nd February 1962 in Agona Wiamoase, Ashanti Region, he turned 63 in 2025. Osei Kwame continues to be an inspiration to many. However, based on “people also ask” questions, one thing stands out, how did Kwame become so rich?
People are interested in his wealth generation strategy and in this article, I am going to answer that question in detail. We’ll explore his early struggles, his breakout into media, the diversification of his empire, and the legacy he’s built.
Osei Kwame’s journey began from a humble background. Raised in rural Ashanti, he first tried selling music cassettes, padlocks, feeding bottles and other small wares in Dunkwa-Offinso. Those early years were tough, but according to him, they taught him two big lessons: community builds business, and diversity insulates against failure.
In the early 1980s, alongside other Ghanaians, he moved to Lagos to seek better opportunities. Political instability forced him back in 1983 as this exile wasn’t voluntary, but a mass return triggered by Nigeria's unrest. He arrived back home with just a chainsaw and a trident cassette player. Though he tried logging, his saw was crushed during a job; a painful failure that pushed him back to selling cassettes.
This period teaches us that sometimes, forced resets can set the stage for reinvention.
Thanks to effort made by people like Kwame despite, Ghana now has several international musicians like Sarkodie, Shatta Wale and King Promise among many others. Now, here is his story, the beginning of his business in music and Ghana's media in general.
With the logging attempt behind him, Kwame returned fully to cassette sales. But unlike others, he leaned into Ghanaian artists and local-language music. Back then, Ghanaian radio stations were dominated by English content, despite the majority of Ghananians speaking Akan or Twi. Kwame saw a gap.
Then came a bold move: in 1999, he launched Peace FM at Mile 7 Junction, Accra. Broadcasting almost entirely in Akan, it tapped into a deeply underserved audience. Peace FM didn’t just sell airtime but rather became a platform celebrating Ghanaian culture, giving voice and airtime to homegrown artists.
Peace FM’s success was swift and spectacular. It disrupted the broadcasting scene and set the tone for local-language content across the country.
Building on that momentum, Osei Kwame didn’t stop. He launched Okay FM, Neat FM, Hello FM, and PeaceFM Online. All these media platforms are under the umbrella of Despite Group of Companies. Despite owns 100 percent of these radio stations, demonstrating his belief in full ownership and control of his platforms.
In March 2015, he partnered with Ernest Ofori Sarpong to form U2 Company Limited, the entity behind UTV Ghana. They each hold 50 percent shares. Through UTV, his media reach expanded into television, solidifying his influence over Ghana’s broadcast landscape.
This is how Kwame got so rich: by identifying underserved markets, building tightly owned platforms, and then scaling them systematically.
Media was just the first leg of his empire. Osei Kwame quickly diversified into other sectors, especially food production. He owns Neat Foods and Atona Foods, which produce household staples; NEAT Fufu, Banku, Hausa Koko, NEAT Dairy Products, and even “This Way” chocolate drink and children’s cereal.
He also co-founded U2 Company Limited (salt production and TV), and has interests in Best Point Savings & Loans, plus farming and construction businesses.
By building complementary businesses e.g media platforms to advertise his products, farming to source raw materials, the man created a self reinforcing ecosystem.
“Osei Kwame Despite” became his public persona, thanks to the Despite Group brand. But who is he as a person?
Educationally, he has no traditional degree as his education ended early but he was awarded an honorary doctorate from a British university in recognition of his entrepreneurship and societal impact. This underlines that real world results often speak louder than degrees.
On the personal front, he’s married and reportedly has nine children. His eldest son, Kennedy Asante Osei, is the general manager of Despite Media, a sign of succession planning in action.
He’s also known for his love of luxury cars. In February 2022, to mark his 60th birthday, he reportedly purchased a $3 million Bugatti Chiron, becoming one of only five Africans to own one. However, there’s no confirmed record of him owning a private jet, TikTok rumors exist, but no hard evidence has emerged.
Osei Kwame Despite has built a diverse business empire across multiple industries in Ghana. While the exact number may be higher due to subsidiaries and partnerships, he is known to own or co-own at least 10 well-established companies spanning media, food, finance, and more.
Here is the list of major companies owned by Kwame Despite:
He also has other interests in farming, construction, and retail, though these are less publicly documented.
What makes him remarkable isn’t headline-making charity or flashy speeches. It’s his methodical approach: he starts small, tests local ideas, pivots when needed, and then scales with intentional ownership. He didn’t just bet on one business but rather built a diversified empire that reinforces itself: media sells food products, food production supports local markets, and finance captures capital to fund more ventures.
He was also among the first in Ghana to champion Akan-language broadcasting, showing an uncanny cultural insight. The honorary doctorate he earned wasn’t for academic brilliance but recognition in his real-world impact on education, commerce, and culture.
Osei Kwame Despite offers plenty of useful lessons that feel practical, not preachy:
Despite’s estimated wealth places him near the top of Ghana’s richest class. But he’s not the only one who shies away from labels. Ernest Ofori Sarpong, his UTV partner, similarly avoids billionaire talk. Another discreet entrepreneur is Nana Kwame Bediako, popularly known as known as “Cheddar” who became wealthy in real estate, scrap and telecom, yet prefers keeping a low profile.
Osei Kwame Despite’s story isn’t built on luck or privilege but on seizing cultural gaps, functioning with resilience, and scaling thoughtfully. From the ashes of a failed chainsaw enterprise to owning a multimillion-dollar media and food empire, he’s proof that understanding your audience and owning your strategy matters most.
He doesn’t brag about his wealth. He’s not on the cover of Forbes. Yet he’s built an empire that touches radio waves, supermarket shelves, and even the financial sector. He may not fly in private jets (at least not confirmed), but he flies in influence.
That’s how Kwame Despite got rich, not through sudden windfalls, but by earning trust, speaking local, and owning every step of his climb.
I’m Clinton Wamalwa Wanjala, a financial writer and certified financial consultant passionate about empowering the youth with practical financial knowledge. As the founder of Fineducke.com, I provide accessible guidance on personal finance, entrepreneurship, and investment opportunities.
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