Asoma Banda, Ghanaian business icon and philanthropist, dies at 91

Key Points

• Asoma Banda, a pioneer in Ghana’s shipping and aviation sectors, passed away on March 1, 2025, leaving a lasting legacy in business and philanthropy.
• Banda co-founded OT Africa Line, established Antrak Shipping and Antrak Air, and played a key role in revitalizing Ghana Airways, shaping regional logistics.
• Banda funded hospitals, supported security initiatives, and built a mosque, earning Ghana’s highest honors for his contributions to business and society.

Ghanaian business magnate and philanthropist Asoma Banda, known for his pioneering contributions to shipping and aviation, passed away on March 1, 2025, at the age of 91. His death in the early hours of Saturday marks the end of an era in Ghana’s business world, leaving behind a legacy of innovation and economic empowerment.

Early life and education

Born in June 1933 in Kintampo, in Ghana’s Brong Ahafo Region, Banda showed an entrepreneurial drive from a young age. He completed his early education in Kintampo and Kumasi before moving to London, where he earned Ordinary and Advanced Level certificates and a diploma in Marketing and Sales Management. He later pursued further studies in Marketing, Management, and Shipping—laying the foundation for a career that would reshape Ghana’s maritime and aviation industries.

Business ventures and achievements

In 1975, Banda co-founded OT Africa Line in London, making a bold entry into the international shipping industry. Under his leadership, the company grew into a global powerhouse, operating in multiple countries and employing thousands. Even after selling OT Africa Line to the Bolloré Group in the 1990s, he remained chairman, underscoring his lasting influence in the sector.

Beyond shipping, Banda had a keen eye for business opportunities. He founded Antrak Shipping Line, solidifying his position as a leader in maritime logistics. His ambitions extended into aviation, where he played a key role in efforts to revitalize Ghana Airways, driven by his belief in Ghanaian ingenuity and his vision for regional transportation.

Building on this vision, he established Antrak Air, a fully Ghanaian-owned airline that transformed domestic air travel and expanded operations across West Africa. His contributions to infrastructure were equally significant, including his role in the development of the Tema Container Terminal—a project that created jobs and strengthened Ghana’s logistics capacity.

Philanthropy and legacy

Banda’s influence extended beyond business. He was deeply committed to societal development, funding the reconstruction of the maternity wing at Korle Bu Teaching Hospital and establishing the Crime Prevention Foundation to support national security. A devout Muslim, he also financed the construction of a mosque in Accra’s Airport Residential Area, reflecting his dedication to his faith and community.

His leadership at Antrak Group, which grew to over 146 branches and created more than half a million jobs globally, earned him widespread recognition. He was the first African to own a ship and the first Ghanaian to own an aircraft—historic achievements that cemented his legacy. The Ghanaian government honored him with the Companion of the Order of the Volta, and he received lifetime achievement awards from various organizations for his contributions to the maritime and aviation industries.

Tributes and reflections

Following his passing, tributes have poured in from business leaders and close associates, celebrating his impact.

Nigerian media mogul and longtime associate Dele Momodu announced Banda’s passing on social media, sharing a heartfelt tribute on Instagram: “Such a privilege knowing this adorable couple, ALHAJI & EDWINA ASOMA-BANDA, in the last three decades… Today, the elephant has fallen… May ALLAH bless BAABA for keeping ALHAJI comfortable to the end. May ALLAH comfort the entire family, his wives, and children.”

Ghanaian business mogul Sam Jonah described Banda as “a true patriot, a visionary entrepreneur, and a giant of industry,” highlighting his role in shaping Ghana’s economic landscape.

From humble beginnings to becoming a titan of industry, Asoma Banda’s journey remains an enduring source of inspiration. His legacy of entrepreneurship, philanthropy, and national development will be remembered for generations to come.