Personality profile – Dr. (Alhaji) Adamu Iddrisu


TVM: How are you weathering the storm?
Dr. A.A.I: All we are doing is to improve efficiencies in operations in terms of financial management, treasury management, and operational efficiencies. We hope to contain our cost and keep the business going; that’s all we can do. We cannot change interest rates or fix inflations. It all depends on government policy. There isn’t much we can do except that we must respond strategically as a business and that’s all we are doing.
TVM: What do you suggest can be done to reverse the trend?
Dr. A.A.I: Reversing the trend? The onus rests with government. These are macro economic fundamentals controlled by government; we don’t control them. I believe government must do the right thing; the excessive borrowing by government must stop. I’m referring to previous and current governments.
Once they keep borrowing, interest rates will go up. Alternatively, the more they pump more money into the system, the more inflation increases. So for me, it’s about the government trying to get its act together and eliminating wastes and I think economies are managed by governments, that’s why we elect them and give them the mandate and this is not about politics.
TVM: What do you make of the recurrent depreciation of the Cedi?
Dr. A.A.I: We are all part of the reason why the cedi is always falling against the major trading currencies. If someone should give you dollar right now, you will take it, right?
TVM: YES
Dr. A.A.I: But, if you go to China and India and you have dollars, nobody will accept it as a legal tender. That is what we are to do here in Ghana but the reverse is the case. So, we shouldn’t blame anyone; we should blame ourselves. We are all part of the reason for the depreciation of the cedi.
TVM: Who is Dr. Alhaji Adamu Iddrisu?
Dr. A.A.I: I’m a Ghanaian. My mother comes from Paga and my father from Niger. I grew up here in Accra– Old Fadama to be precise, at the timber market. We actually started the timber market at the post office and later moved it to the Makola Fire Service, then to Kantamanto before finally settling at Amamomo where the market is still situated.
But, before all this, I used to help my father on the farm. So, I learnt a lot about farming. At age 17, I joined my brother in Accra and we started the timber business. Through the timber business, I developed interest in the transport business as well because I needed to convey the woods to my clients and by 1964 I bought the first two Fargo trucks, during Nkrumah’s regime.
I bought the first CKD trucks in Ghana in 1964. At that time, trucks were imported in their skeletal forms and then assembled here in Ghana. We had Man Diesel, Mercedes Benz, Fargo trucks, in fact all the trucks were assembled in Ghana. So, no one could import an assembled truck directly from overseas.
After Nkrumah till Kutu Acheampong’s regime, all the leaders did same. Moreover, during Acheampong’s regime, he ordered that motorbikes, bicycles as well as cars should also be assembled in Ghana. No one could import a brand new car as of that time. This created industrial boom and job creation in the country.
TVM: Is that where you got the idea of your transport business?
Dr. A.A.I: No no no! I started the transport business even before Nkruma’s regime. I actually started the transport business with a horse-driven cart. I had a little cart tied to a horse on which I packed the wood from the timber market to distribute to our customers in Accra.
So I had the idea from there because I needed to keep supplying the customers’ everyday with the wood and that was how I got the idea and it wasn’t a bad one. Only that the transport business is very risky.
TVM: H o w risky is it?
Dr. A.A.I: Very! One cannot tell when a car or a truck can have an accident. You can buy a truck today and give it to a driver and you can’t tell what will happen in the next minute. It can be an accident, an arrest because of an illegal engagement by your driver etc. All these accounts for the risky nature of the transport business. TVM: Did you have to drive the trucks at a point?
Dr. A.A.I: Yes! When I started the truck business I was driving the trucks myself but also, I had other drivers.
TVM: At what age were you when you entered into the transport business?
Dr. A.A.I: I started working with my brother at the age of 17 but by the time I entered into the transport business I was in my thirties. I did it simultaneously with the timber business but after four years, I stopped the timber business to concentrate on the transport business. I had the opportunity to also supply the timber to countries like Togo, Burkina Faso etc.
TVM: What lessons did you learn when you were working with your brother?
Dr. A.A.I: My brother gave me free hands to learn the business very well when I was with him. I learnt how to serve as an apprentice as well as collaborate as a partner. I also learnt to manage my brother’s business as my own. I was very obedient to his instructions and contented with what I had.
TVM: Did you ever think you would be this successful while you were selling the wood?
Dr. A.A.I: I had a vision and that’s why I separated from my brother’s business. I was very hard working. For instance, when I was 16 years and staying with my father, I worked on his farm and did not give him the cause to work on the farm again.
I worked so hard he didn’t have to touch anything on the farm. I did the same for my brother when I joined him to sell the wood at the timber market. That is why today I advise people that they should not be selfish but work hard.
Even if it is not their job, they should go ahead and sacrifice themselves for the job. If they feel the company does not belong to them and so would do as pleased, such an attitude wouldn’t get them to be successful. Africans have a different attitude to work unlike Europeans and Arabs.
While I was with my brother, because of my hard work he wanted to build a house for me but I refused. My priority was not for the gift offerings but to ensure the business grew as expected for me to earn my income. I took nothing from the business without his prior notice and consent.




Coke ‘Hates the Feeling’ - Forecast a significant hit to current-quarter results
- Coke withdraws annual forecast, volume plunges 25 per cent in April
- Revenue beats $8.60B VS $8.282B EST
- Change in consumers purchase pattern will have a material effect on the current quarter results
- Continue Reading