How Seidu Agongo made his fortune selling rice [Article]

Who is Alhaji Seidu Agongo?

Current Chief of Staff Frema Osei Opare, as well as the late Yaw Kwakye, a cousin to President Akufo-Addo, can bear Alhaji Agongo witness that he used to support Nana Akufo-Addo, long before he became president, with hundreds of bags of rice for distribution to his Muslim support base in Nima.

Alhaji Agongo recalls that his rice, sugar and tin tomato business helped him to transform Nima into a hotbed of trading activities.

Realising that education was the only means by which he could help end the cycle of poverty in the families of poor pupils, Alhaji Agongo decided to move his own children from Al-Rayan International School, where he was spending about $5,000 on each child, at the time, to the St

In October 2022, the UT Bank founder expressed gratitude to Alhaji Agongo for being the only Ghanaian who offered to assist him after a selfie of him wearing a scruffy beard with a sad face went viral on social media and got Ghanaians rumouring that he was now a pauper on the verge of death following the collapse of his financial institution.

He told Nana Otu Darko on CTV’s morning show on Tuesday, 4 October 2022 that the only reason he accepted an invitation to appear on that show was because the station belonged to Alhaji Agongo’s Class Media Group.

“Actually, the reason why I couldn’t say no to your invitation was because of his [Seidu Agongo’s] personality”, Mr Amoabeng told Nana Otu Darko, adding: “I’ve never set eyes on him but at some point in time, after the COVID-19 pandemic hit, I started wearing this beard and I took a picture of myself and I posted it on [social media] and that set tongues wagging that ‘I was on the verge of death’, ‘I’m now a pauper’, but the boss of this place [CMG], Seidu Agongo, sent me a WhatsApp message that if I’m in difficulty, I should send him my account number for him to give me some money”.