Chief Executive Officer of Crown Peak Holdings (Pinkberry, Icy Cup, Burger King), Dr. Kobbina Tuyee Awuah, has described Africa as a high-risk environment for business, citing currency instability, regulatory uncertainty, and operational challenges across several markets.
Speaking on The Career Trail on Joy Learning TV and Joy News, he said although the continent presents opportunities, the risks are often significant and unpredictable.
“Africa is a very risky place. You’ve heard so many cautionary tales of businessmen who lose everything. Currency depreciates like crazy. You can lose a lot,” he said.
“It’s just risky for whatever reason. Government doesn’t like you, or there’s some big influence that works against you. It’s unpredictable,” he continued.
He, however, drew a contrast with Ghana, describing it as relatively stable compared to other markets on the continent.
“Ghana is not as bad. The rule of law here is fantastic. It is probably one of the best I’ve seen on the continent,” he stated.
He added that Ghanaian professionals often benefit from a strong continental reputation, which opens doors in other African countries.
“One beautiful thing about being Ghanaian is that we are very respected on this continent. A lot of it has to do with Kwame Nkrumah. I went to Malawi for the first time and walked into regulatory offices. I went to Mozambique and saw Kwame Nkrumah’s bust in the central bank,” he shared.
He noted that this respect often translates into business opportunities and easier access to institutions.
“As soon as they hear you’re from Ghana, there’s a certain level of respect,” he said.
“You don’t always see it when you’re here because the hustle is real. But outside, you realize how much Ghanaian reputation carries weight,” he added.
Despite the challenges, he explained that his experience across multiple countries helped him better understand how to navigate African markets.
“I’ve lived in about 12 countries, and seven of them are in Africa. That experience helped me a lot in understanding different markets,” he concluded.
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