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

Ghanaian business mogul Alhaji Asoma Banda, known for his transformative impact on the country’s shipping and aviation industries, has passed away at the age of 89. He died in the early hours of Saturday, March 1, 2025.

His passing was confirmed by Nigerian businessman Dele Momodu, who paid tribute to him on Instagram, describing him as a towering figure in business and a cherished friend.

“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, Banda is expected to be laid to rest the same day.

A self-made mogul who defied the odds

From humble beginnings, Alhaji Banda rose to become one of Ghana’s most influential entrepreneurs, building an empire that spanned shipping, aviation, and beyond. He founded Antrak Shipping Line, a key player in Ghana’s maritime industry, before expanding into air travel with Antrak Airlines, which revolutionized domestic aviation.

Prominent businessman Sir Sam Jonah described Banda as a visionary who saw opportunities where others saw obstacles. “He believed in the power of African enterprise,” Jonah said, noting Banda’s audacious bid to take over Ghana Airways as a testament to his confidence in local business.

Navigating the politics of enterprise

Despite his successes, Banda’s career was not without challenges. Sir Sam Jonah highlighted the difficulties of balancing business and politics in Ghana, a struggle that has often hindered even the most ambitious entrepreneurs.

“Ghana has witnessed too often how business and politics can be an uneasy mix,” Jonah noted, calling it a lesson for future generations of business leaders.

Beyond his commercial ventures, Banda was a mentor and historian who openly shared insights on Ghana’s economic development. His story, Jonah emphasized, serves as a powerful reminder that determination and strategic vision can propel one from modest beginnings to great heights.

An enduring legacy

Though Alhaji Banda’s passing marks the end of an era, his influence on Ghana’s economy remains. His leadership in the aviation sector, particularly through Antrak Airlines, reshaped domestic travel and set new industry standards.

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

Alhaji Asoma Banda’s contributions to business and industry in Ghana will long be remembered, his life serving as a blueprint for future entrepreneurs striving to make a mark on the continent.