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Zongo Startup Summit 2023 held with calls on youth to develop the right attitude for wealth creation

As he cautions against being too ambitious without the discipline to see it through

The Zongo Startup Summit 2023 has been held in Accra with a clarion call on the youth to cultivate the right attitude necessary for entrepreneurial success.

The summit, aimed at promoting business and economic growth in Zongo communities across Ghana, took place on Saturday, December 23, at the National Mosque in Kanda.

In his keynote address, the Chief Executive Officer of the McDan Group of Companies, who was the Chairman of the occasion, Daniel McKorley, emphasised that attitude is critical for the youth to prosper in business, saying one’s mindset and approach from day one largely determine the outcome.

“Never joke with your attitude if you are a startup,” he said.

“Attitude is what is killing the Zongos. Our zongos are embedded with the wrong attitude.

“And any Zongo youth I meet, it is attitude that I talk about first. But let me tell you something about wealth creation: if you want to make money, 70 percent is your attitude, 25 percent is your skill, and 5 percent is your knowledge.

“So if you don’t have the right attitude, from day 1, you have failed already. ”

McDan urged the youth to embrace qualities like diligence, persistence, and willingness to learn to prosper in business.

He criticised laziness and early marriages in Zongos when the couples lack resources, stressing the importance of developing oneself.

“We sleep too much in the Zongos; we waste too much; we marry too early, yet we don’t have money,” he told the over 500 attendees.

“The attitude of trying to build yourself is very important. Consistency is another thing.

“To be a very good entrepreneur in the Zongo, you have to solve problems.”

He, however, cautioned against being too ambitious without the discipline to see it through.

“At times we become too ambitious, then we let go with the right attitude,” MacDan said.

“I made my first million dollars at the age of 28, but one funny thing is that I lost them all at the age of 32.

“Life is funny; there is something called attitude. To make money, you need certain principles, understanding, and the right attitude, and that is what I want to give back to the Zongo youth to walk.”

The 2023 edition brought together over 500 youth, community leaders, small business owners, investors, and policymakers to discuss strategies for boosting development in Zongo areas through youth-led startups and small enterprises.

It featured a pitch competition with 15 Zongo youth entrepreneurs presenting their business ideas to a panel in a packed hall, of which Abass Bushira, CEO of startup Bishara Farms, won the ultimate prize for her exceptional presentation.

While congratulating the ZongoVation Hub for coming up with the initiative, Mr. MacDan made a generous personal donation of 20,000 GHS in support of the summit and promised that the winner of the Zongovation Challenge is guaranteed an automatic place in the Grand Finale of the next MacDan Entrepreneurial Challenge.

“Whoever wins this pitch, I want you to bring him to the Finale of the MacDan Entrepreneurship Challenge,” he said.

“And the winner of that challenge is gonna win 100000 dollars.”

Other speakers at the summit also highlighted the need for self-confidence, passion, and readiness to work hard as key mindsets and character traits for succeeding in entrepreneurship.

The Zongo Entrepreneurship Summit began in 2017 and has since helped launch over 100 youth-owned startups.

With unemployment high among Zongo youth, it has become the biggest initiative aimed at promoting entrepreneurship and innovation in the Zongos.

 

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