Meet CEO Who Started His Equipment Supply Company with KSh 18k

  • Joseph Moses-Mensah is the creator of Industrial Procurement Services (IPS), a company he started with KSh 18,000 in 2006
  • Before founding the company, he was working as a sales executive with a company at Obuasi in the Ashanti Region of Ghana
  • Moses-Mensah established his business after he was made to resign following an incident involving a female colleague worker and the company’s manager

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A young entrepreneur, Joseph Moses-Mensah, has recounted how he started his company, Industrial Procurement Services (IPS), a chain supply venture in the mining industry.

Ghanaian CEO opens up about how he started his business
Moses-Mensah: Meet the Ghanaian CEO who Started His Equipment Supply Company with KSh 18,000. Photo credit:
Source: UGC

For Moses-Mensah, it was about turning a tribulation into lemonade and becoming his own boss.

Before he created IPS, he was working as a sales executive with a company at Obuasi in the Ashanti Region of Ghana.

He recalls having an altercation with a female colleague and the manager, who was the sister of the company’s director.

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Moses-Mensah resigning from work

Embittered by the actions of the manager, he passed a derogatory remark during a phone conversation with the director when he called to complain.

Moses-Mensah was subsequently made to resign after refusing to render a qualified apology to the director and his brother.

He left the company with KSh 18k, he said.

Starting IPS

He would later travel to Accra to register his business, Industrial Procurement Services (IPS), a company he started in 2006 to supply equipment to various mining companies in Ghana.

”I used KSh 16,000 from the KSh 18,000 to register the business at The Registrar General’s Department in Accra,” he told Wundef.

Moses-Mensah invested the remaining amount and his saving of KSh 10,000 into other aspects of his young start-up.

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”I bought a table and a computer.” He started working from the room of a friend, where they converted into an office,” he recalled.

Making his first purchase order

He recalls getting his first purchase order from a company that earned a profit of KSh 11,000, but he would face challenges during the off-peak of the business. ”People were not buying,” he said.

Moses-Mensah overcame the storms and focused on growing his venture, which currently has 50 permanent staff with numerous casual workers.

Click to watch his video below:

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Tabitha Karanja

As previously reported, Tabitha Karanja, the founder of Keroche Breweries, is one of the greatest female entrepreneurs in Kenya.

Her entry into the male-dominated industry was certainly a bold move.

Tabitha’s company has been gradually creating a strong foundation in the market by producing great brands.

Keroche Breweries was founded in 1997 by Tabitha and her husband, Joseph Karanja, as a fortified winemaker.

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The duo started with a capital of KSh 500,000, capital drawn from a hardware shop they owned. The company has since grown to be the second-largest alcoholic beverages producer in Kenya.

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Source: Tuko


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