Alhaji Banda: Business tycoon who reshaped Ghana’s economy dies at 89

Ghana and the broader African business community are mourning the loss of Alhaji Asoma Banda, a pioneering entrepreneur and one of the nation’s most influential business figures.

The shipping and aviation magnate passed away in the early hours of Saturday, March 1, 2025, at the age of 89.

His death marks the end of an era for Ghana’s business landscape, which he helped shape through his visionary leadership and relentless determination.

The news of his passing was shared by Nigerian businessman and media personality Dele Momodu, who paid an emotional tribute to Alhaji Banda on Instagram.

Momodu described him as a “towering figure in business” and a cherished friend, highlighting the profound impact Banda had on those who knew him.

“In the last three decades, it was such a privilege knowing this adorable couple, ALHAJI & EDWINA ASOMA-BANDA,” Momodu wrote. “Today, the elephant has fallen… May ALLAH bless BAABA for keeping ALHAJI comfortable to the end.”

In accordance with Islamic tradition, Alhaji Banda is expected to be laid to rest on the same day as his passing.

Alhaji Asoma Banda’s journey is a testament to the power of resilience, vision, and hard work.

Born into modest circumstances, he defied the odds to become one of Ghana’s most successful entrepreneurs.

His business empire spanned multiple industries, with his most notable contributions coming in shipping and aviation.

In the 1980s, Banda founded Antrak Shipping Line, which quickly became a cornerstone of Ghana’s maritime industry.

His success in shipping laid the foundation for his next ambitious venture: aviation.

In 2003, he launched Antrak Airlines, a domestic carrier that revolutionized air travel in Ghana.

Antrak Airlines not only made air travel more accessible to Ghanaians but also set new standards for safety, efficiency, and customer service in the industry.

Sir Sam Jonah, a prominent Ghanaian businessman and close associate of Banda, described him as a visionary who saw opportunities where others saw obstacles.

“He believed in the power of African enterprise,” Jonah said. “His audacious bid to take over Ghana Airways was a bold statement of his confidence in local business and his commitment to building a self-reliant economy.”

Despite his remarkable achievements, Alhaji Banda’s career was not without its challenges.

Sir Sam Jonah noted that Banda often had to navigate the complex and sometimes contentious relationship between business and politics in Ghana.

“Ghana has witnessed too often how business and politics can be an uneasy mix.

“Alhaji Banda’s ability to navigate this terrain, while maintaining his integrity and focus, is a lesson for future generations of business leaders,” Jonah observed.

Banda’s resilience in the face of adversity was a hallmark of his career.

He faced setbacks, including the eventual closure of Antrak Airlines in 2014 due to financial difficulties, but he remained undeterred.

His ability to adapt and persevere earned him the respect of his peers and cemented his legacy as a trailblazer.

Beyond his business acumen, Alhaji Banda was known for his generosity and willingness to share his knowledge.

He served as a mentor to many young entrepreneurs, offering guidance and support to those looking to follow in his footsteps.

He was also a passionate historian, often sharing insights on Ghana’s economic development and the role of entrepreneurship in nation-building.

“Alhaji Banda’s story is a powerful reminder that determination and strategic vision can propel one from modest beginnings to great heights,” Sir Sam Jonah remarked. “His life is a blueprint for anyone striving to make a mark on the continent.”

Alhaji Asoma Banda’s contributions to Ghana’s economy and his pioneering spirit have left an indelible mark on the nation.

His leadership in the aviation sector, in particular, reshaped domestic travel and inspired a new generation of entrepreneurs to dream big.

“As we say goodbye to this extraordinary man, let us not only mourn his loss but celebrate the lasting legacy he leaves behind,” Jonah said. “His resilience and unwavering belief in African enterprise will continue to inspire.”

Banda’s legacy extends beyond his business ventures. He was a philanthropist who supported various charitable causes, particularly in education and healthcare.

His commitment to giving back to his community reflected his deep sense of responsibility and love for his country.

A Final Farewell

As Ghana prepares to bid farewell to Alhaji Asoma Banda, tributes continue to pour in from across the continent.

Leaders, colleagues, and admirers have hailed him as a true icon of African business, a man whose life and work embodied the spirit of innovation and perseverance.

His passing is not just the loss of a business titan but the end of a chapter in Ghana’s economic history.

However, his legacy will live on through the countless lives he touched, the industries he transformed, and the example he set for future generations.

In the words of Dele Momodu, “The elephant has fallen, but his footprints will remain forever etched in the sands of time.”

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