Ghanaian-UK entrepreneur and founder of Konnected Minds, Derrick Abaitey, has revealed how buying his first house became the foundation of a growing real estate portfolio spanning the United Kingdom and Ghana.
Speaking on Joy Learning TV and JoyNews’ entrepreneurship programme, The Career Trail, Derrick said his journey into property investment began before he got married.
According to him, he and his then-girlfriend, who is now his wife, combined their savings to purchase their first property after raising the required deposit.
“It started before we got married. We got our first property and only needed about £12,000,” he recounted.
Rather than selling the property or stopping there, Derrick explained that he and his wife used the increase in its value to secure funds for further investments.
“Two years after that, we re-mortgaged the property. It had gone up in value, so we went back to the bank and took a loan against the new value. We took the difference, added some savings and bought a bigger property,” he said.
He noted that this approach became the foundation of his real estate expansion in the UK.
Over the years, Derrick said he has continued to grow his property investments by partnering with close friends, including Desmond and his long-time business partner, Eddy.
Reflecting on the challenges associated with real estate investment, he said his mindset has always been focused on identifying opportunities rather than dwelling on difficulties.
“I think if you have the mind of Derrick, you don’t see challenges; you only see opportunities. It’s simply a matter of starting,” he said.
While acknowledging that processes such as legal documentation and finding the right investment property require patience, he described the overall experience as manageable because of the financial stability his career had provided.
“You just have to wait for the legal people to do their work and find the right property that can generate enough cash flow. That’s it, really,” he stated.
Explaining his decision to relocate, he said the move was driven by both business opportunities and family values.
“Coming to Ghana is really to expand our portfolio and build more businesses here. Currently we run a real estate business in Ghana, and we also have a pharmaceutical company here. In fact, I’m building another pharmaceutical company right now. We ain’t stopping. I also find joy in raising my children within my culture,” he revealed.
Beyond real estate, Abaitey disclosed that he now operates pharmaceutical businesses in Ghana and has no plans of slowing down.
Comparing the business environments in Ghana and the UK, Abaitey acknowledged that while the UK’s systems are more streamlined, Ghana’s challenges present unique opportunities for entrepreneurs.
“My mentor in Ghana told me that wherever there’s chaos, look at what’s keeping the chaos happening. That is where the opportunity is. When I see chaos, I see opportunity,” he shared.
According to Abaitey, choosing the right profession played a significant role in making those investments possible.
“That’s why I always say the career you choose is the fastest way to begin building your wealth. If you choose the wrong career, it will delay you,” he stressed.
He concluded by encouraging young people to focus less on whether to stay in Ghana or relocate abroad and more on developing financial literacy.
“Whether you stay here or move abroad, build your financial literacy. If you can, start a business. I’m simply using my own journey to show people that it’s possible,” he concluded.
