How a $25,000 Loan Became Databank: The Story of Three Ghanaians Who Built a Financial Empire

In 1990, three Ghanaians — Ken Ofori-Atta, Keli Gadzekpo and James Akpo, who would later become Togbe Afede XIV — borrowed $25,000 and started Databank in a small room at the UTC Motors Building in Kantamanto, Accra. More than three decades later, that bet has become part of Ghana’s financial history.

In 1990, three Ghanaians — Ken Ofori-Atta, Keli Gadzekpo and James Akpo, who would later become Togbe Afede XIV — made a relatively small financial bet with potentially enormous consequences.

They borrowed $25,000 and started Databank in a small room at the UTC Motors Building in Kantamanto, Accra.

Originally the idea was not to build a financial empire. Databank began as a three-person equity research operation, built around a simple proposition: provide investors with information about Ghana’s emerging capital markets.

From Research to a Full Financial Services Platform

But later the founders discovered that research alone would not be enough.

Databank expanded beyond research into stock brokerage, investment banking, asset management and corporate finance — building a financial-services platform that would become one of the most recognisable names in Ghanaian finance.

Databank’s transformation was bigger than the original business plan. What began with three founders and a $25,000 loan became a company that helped introduce generations of Ghanaians to investing through products ranging from mutual funds to equities and fixed-income securities.

The Founders: Careers Beyond Databank

The founders themselves would go on to build influential careers beyond Databank.

• Ken Ofori-Atta later became Ghana’s Finance Minister.

• Keli Gadzekpo became a prominent figure in Ghana’s financial-services sector.

• James Akpo went on to become Togbe Afede XIV, the Agbogbomefia of the Asogli State.

A Lesson in Business Building

The Databank story is ultimately a lesson in how businesses are built: capital may start the journey, but adaptability can determine how far it goes.

A $25,000 loan was the starting point. The bigger bet was believing that Ghana’s financial markets could become an industry worth building around.

More than three decades later, that bet has become part of Ghana’s financial history.

Key Milestones at a Glance

Last Updated on October 6, 2026 by Samuel Kwame Boadu

Samuel Kwame Boadu

Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.

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