- by Christian Amegbor
- Jun 21, 2023
Easier to Turn GH₵100k into GH₵1m Than to Start from Zero, Ecobank Development MD on Wealth Building
- By Christian Amegbor
- Feb Wed, 2026
- in Business
The Managing Director of Ecobank Development Corporation (EDC)Investments Ltd, Paul Kofi Mante, says building wealth becomes easier once people build their initial capital base, stressing that moving from GH₵100,000 to GH₵1 million is not as difficult as starting from zero.
Speaking on JoyFM’s Super Morning Show on February 11, Mr. Mante explained that the principle of compounding favors those who can build capital over time.
“In fact, it is easier to move from 100,000 to 1 million than from zero to 100,000,” he said. “If you use 20% as a percentage, if you have GH₵1,000 and you earn 20% on it, you will earn GH₵200. But if you have GH₵100,000, you will earn GH₵20,000. If you have GH₵500,000 and you earn 20% on GH₵500,000, you will earn an additional GH₵100,000.
According to him, the main lesson is that the bigger the investment base, the faster it grows. The bigger the base, the faster it travels, the faster it gets to where you are, he said.
His speech comes at a time when the public is increasingly interested in long-term investments and financial security, with many Ghanaians looking beyond their salaries to build a sustainable income.
Mr. Mante cited the example of a teacher who started with a small investment but saw significant growth in 2020 during the Covid-19 pandemic. When schools closed, the teacher set up online classes to earn extra money later and expanded into fish farming and pottery.
He went beyond just his salary and looked at other things,” Mr. Mante said, highlighting the importance of multiple sources of income.
He explained that as of late last year, the teacher was earning about GH₵75,000 per month just from interest on his investment.
Using an annual interest rate compounded at 18% per quarter, Mr. Mante showed how small contributions can add up over time.
He said an investment of GH₵150 per month could generate about GH₵1.1 million in 27 years, while GH₵600 per month could cross the million-cedi mark in 19 years. The larger monthly investment would reduce the time.
You are growing a little bit. It won’t happen overnight. But you will get there, he assured the audience.
He also warned investors to factor in inflation when calculating their returns. Explaining the difference between inflation and income growth, he said that if inflation is 4% and your investment is 10%, your total return is 6%.
The best way to ensure time value is to make sure you are earning before inflation, he said. While inflation cannot be controlled, he urged people to focus on what they can control through good savings and smart investments.
You cannot control inflation, which eats away at the value of money. What you can control is your savings, investments, and consumption, he said.
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