By: Bennet Otoo, Jumia Travel

‘’Sika’’ or ‘’Jw3t33’’ are very popular terms used to caption money or riches in many Ashanti or Akan parts of Ghana. A rich person, known as ‘’sikanyin’’ in twi represents someone who has amassed so much wealth that he/she stands out in community or the society. Some have even reached national and international status. One overwhelming fact about these individuals is the fact that a greater chunk of them are Akans, more specifically Ashanti’s. Then this question pops up. Why are the Ashanti’s the richest group of Ghanaians? Jumia Travel, Africa’s leading online travel agency attempts to examine possible reasons for this popular assumption.

Land of Gold – Historically, we can confidently say the Ashanti’s are by far the richest sect of Ghanaians by birth. Born into riches, they are destined for wealth by inheritance. Many Ashanti’s acquire their starting capital from their fathers and forefathers. They have something to build on from the start. The Ashanti Kingdom is also popular called ‘’the land of gold’’ because it houses the biggest mines in the country. The obuasi gold mine has for many decades been a hub for Ghana’s gold mining activities elevating the country to a very good standing as one of Africa’s leading gold producing countries. Have you ever watched an Ashanti ceremony? The full regalia worn by the chiefs and kinsmen will dazzle you. Expensive Kente with very beautiful gold ornaments clearly depict how rich these group of people are. Other rich minerals are also mined here. A look at the top richest men in Ghana clearly shows us also that most of the rich folk are Ashanti’s.

Hardwork – Another reason that may be attributed to Ashanti’s being the richest Ghanaians is hard work. Indisputably, the Ashanti’s who are spread all over the country are much more involved in businesses and work extremely hard for their money. You will hardly find an Ashanti without a job. Either self employed or working with a firm. Many of them also learn a trade. No wonder the biggest open market in Ghana can be found there. They are naturally born traders and are very good at what they do. Give an Ashanti anything and expect them to sell it at a very good price. They don’t relent until the work is done and they have their monies worth for the product or service rendered. They work very hard and hence it comes as no surprise that most of them are successful and rich.

Risk Takers – Fearless, aggressive, and smart are some words that can be used to describe the Ashanti’s way of doing business. However, the most appropriate thing to say may be that they are risk takers. They dive in when they see a business opportunity. This may occasionally be detrimental and they may be on the losing end but trust them to come out on tops on most occasions. Most successful businessmen and women are the ones who take risks and venture into the unknown, work hard and make a way even when the path to success looks gloomy. If there are any group of people in Ghana who will readily explore an opportunity, then it’s the Ashanti’s.

Support for each other – Nana Kofi goes to the USA to work. After 10 years he makes it and settles down. Then he comes back home to take Afia Kobi who is his niece along with him. She too works hard and after a while comes back to Ghana to take her nephew Kwabena Yeboah out of Ghana to work and make some money. The cycle continues till every member of the family is in a comfortable position. This trait is very common with the Ashanti’s who are always there to support and enrich each other. Due to this special and generous attitude, we find many more rich people being Ashanti’s than any other tribe in Ghana. Another thing that makes more of them rich is the level of generosity. An Ashanti man can give out his asset or business to his family member or kinsman to manage and make more money whiles he concentrates on other businesses with the assurance that the business still goes on and they both benefit. They hardly let each other down. This is why they keep getting rich.


Big spenders – To catch a whale, you need to throw in a herring or smaller fish. This is a strategy that hardly fails and the Ashanti’s are by far the biggest users of this phenomenon. They spend big, invest big and almost always reap bountifully. The trick here is, the money hardly gets out of their own circles. During a festival, a group of rih Ashanti friends will go back home, book a hotel owned by an Ashanti, eat from a restaurant or ‘’chop bar’’ managed by an Ashanti and even drink at a bar owned by their kinsmen. At all these places, they spend heavily and patronize from their own people hence the money stays in their own circle.

The above mentioned points are not to say that other tribes in Ghana are not rich or do not practice any of these things. However, the group that stands out as those who do it more and better are the Ashanti’s. Maybe, in some time to come, this will change but until then, the children of Gold lead the way.

By: Bennet Otoo, Jumia Travel