Business
"I had to start by selling some of my properties I acquired outside the country,” he said. Those assets included homes in London, Geneva and the United States.
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Entrepreneur Dr. Andrew Asamoah has revealed that he financed the construction of A&C Mall by selling properties he owned overseas after failing to secure suitable funding from local banks.
In an interview with Kafui Dey, the businessman said he had initially planned to finance the project through bank loans. However, high interest rates and short repayment periods forced him to abandon that option.
“I had to start by selling some of my properties I acquired outside the country,” he said.
Those assets included homes in London, Geneva and the United States.
“I had a house in London, one in Geneva and another one in America. I had to sell them to be able to start on my own.”
Rather than build the mall all at once, Dr. Asamoah developed it in phases over a period of about 10 years.
He said the first phase consisted of the main shopping area, followed by the fuel station, then the gym and swimming pool, before later expanding to include other sections of the complex.
“It took us about 10 years to complete A&C Mall as you see it today,” he said, adding that throughout that period, the project remained largely self-financed.
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