Successful firm aims for Africa’s top ten

ERNEST BEDIAKO SAMPONG Chairman and Chief Executive of Ernest Chemists Limited

Ernest Chemists Limited provides a prime example of private enterprise success. In 1986, pharmacist Ernest Bediako Sampong and his wife started out with four employees. Today, Mr. Sampong’s staff number around 200, his premises have expanded into a manufacturing plant with its own laboratory and comprehensive storage facilities, and he is Chief Executive of one of the biggest pharmaceutical companies in the country.

By producing a wide range of competitively-priced antibiotics, vitamins and analgesics, Ernest Chemists has extended its client base within Ghana, supplying other chemists as well as hospitals. "We have about 25% of the total market share of pharmaceuticals," says Mr. Sampong. He hopes to introduce additional production lines and, eventually, to export to neighboring countries. "We think that we have the opportunity and the capacity to export to countries in the sub-region," he says. "Our capacity lies in the fact that we have a state-of-the-art plant," he adds.

MARKET LEADERS Ernest Chemists are now looking to export to neighboring countries

His company’s position as one of Ghana’s market leaders allows Mr. Sampong to consider further business options in areas such as tourism and the salt industry, both of which the government is eager to develop, as potential investment areas. Meanwhile, Ernest Chemists itself aims to be one of the top ten African pharmaceutical companies by 2010.

Mr. Sampong believes the government’s support of small businesses should center round reducing interest rates, increasing training and developing infrastructure. He would also like to see more efforts made to encourage the development of non-urban areas and slow down the drift toward the cities. "This could be done by giving tax relief for two or three years to those who are willing to invest in rural areas," he comments.

Like the Minister for Private Sector Development, Mr. Sampong sees Ghana’s competitive advantages in its position as gateway to the sub-region. "If you invest in Ghana you are sure to have good returns on your investments," he states.