Billionaire Richard Nii Armah Quaye retires from active business at 40, launches RNAQ Holdings

Ghanaian billionaire and business mogul Richard Nii Armah Quaye has retired from active business at the age of 40.

The business magnate, who recently celebrated his birthday at a plush event attended by dignitaries and celebrities from across Africa, announced his retirement at the Alisa Hotel in Accra on Monday, April 28.

His retirement as Chief Executive Officer of Quick Angels and Board Chairman of Bills Micro Credit followed the introduction of his successors, who will now oversee the day-to-day operations of the companies.

“As I begin my retirement from all my businesses in Ghana and other countries as CEO or Board Chairman, I want to focus my time and energy to lead this vision of bringing together young people with financial resources and those with amazing skills and early-stage businesses to trigger the economic revolution that will make our nation great and strong,” he said.

“Yes, my only aspiration is to see us thrive economically as a nation. I have no political ambitions whatsoever, as may be speculated. These actions will create many businesses that will hold and support our nation’s economic growth,” Mr. Quaye added.

His companies will now be led by Lawyer Dei Kwarteng, who will act as Chairman of Bills Micro Credit, and Emmanuel Lamptey, who will serve as CEO and Board Chairman of Quick Angels.

Both successors expressed readiness to build on the legacy left by Mr. Quaye and thanked him for the confidence reposed in them.

Following his retirement announcement, Mr. Quaye officially launched a new company, RNAQ Holdings, where he will serve as President.

RNAQ Holdings aims to support young and ambitious individuals in Ghana and across Africa, many of whom face challenges such as unemployment and lack of access to capital and mentorship.

The new initiative is designed to honor the past, address current needs, and build for the future, while encouraging young leaders to pursue their aspirations.

In his years of active business, Mr. Quaye made a tremendous impact on the business ecosystem.

Particularly, Quick Angels Limited, which he established in May 2019, has so far funded over 30 startups and businesses with more than GHC 50 million.

These companies include Ridge Medical Center, Prospectus Ghana, Zaconut, Coli Network, Alcilla (Tilapia farm), Addicent Foods (Benjie Rice), Dominion Paints (Agatex), Sunsolar (salt production), GoldCoast Foods (Sankofa Natural Spices), BEEfA Foods (BEEfA Chips), Jenam Cosmetics, CEQA Foods (Pizzaman and Chickenman), Morning Glory Publication, and Mona Brand (cosmetics and clothing).