Richard Nii Armah Quaye Biography: From Quick Credit to Private Jet – The Rise of a Ghanaian Business Mogul

Richard Nii Armah Quaye is a distinguished Ghanaian entrepreneur and investor, renowned for his significant contributions to the financial sector in Ghana and across Africa. As the founder and chairman of Quick Angels Limited and Bills Microcredit (formerly Quick Credit), Quaye has played a pivotal role in supporting startups and small-to-medium enterprises (SMEs) through innovative financial solutions.

Early Life and Education

Born and raised in Ghana, Richard Nii Armah Quaye developed an early interest in entrepreneurship. He pursued professional training in accounting, becoming a certified accountant through the Association of Chartered Certified Accountants (ACCA). This educational foundation equipped him with the financial acumen necessary for his future business ventures.

Entrepreneurial Ventures

Quick Angels Limited

In 2019, Quaye established Quick Angels Limited, the first institutionalized angel investment company in Ghana. The firm focuses on providing equity financing to startups and businesses, thereby fostering innovation and supporting economic growth. Under his leadership, Quick Angels has invested in over 30 brands, including:

• Gold Coast Food and Spices (Sankofa Natural Spices)
• Pizzaman
• Agatex Paint
• Chickenman
• Ridge Medical Centre
• Burger King (Ghana franchise)
• Dough Man Foods
• Coli Network Ghana Limited
• Lynx Entertainment
• Alcilla (tilapia farming)
• Benjie and Duke Rice
• Sun Solar (salt production)
• Tigon Creative Studios

These investments have collectively generated employment for over 3,000 individuals, significantly impacting Ghana’s employment landscape.

Bills Microcredit (Formerly Quick Credit)

Quaye’s entrepreneurial journey began with the establishment of Quick Credit, a microcredit company aimed at providing accessible financial services to individuals and SMEs. The company has grown to become Ghana’s largest non-bank credit institution, boasting a customer base exceeding 200,000 and a staff strength of over 1,500. Its operations have expanded beyond Ghana to several African countries, including Tanzania, Kenya, Uganda, Sierra Leone, Liberia, and Nigeria, under the brand name Oya Credit. Collectively, these entities serve over 300,000 customers and employ more than 3,000 staff members.

Recent Developments

Acquisition of Private Jet and Bugatti Chiron

In March 2025, ahead of his 40th birthday, Quaye made headlines by acquiring a Gulfstream G200 Galaxy private jet and a Bugatti Chiron. He shared images of these acquisitions on his Instagram account, generating significant public interest. The private jet, branded with his initials “RNAQ,” arrived at Kotoka International Airport, where it received a water cannon salute. However, subsequent investigations revealed that the jet, with tail number N710RH, is registered to Lion Aviation Group and leased to Elite Air, a U.S.-based rental company, casting doubt on the ownership claims. 

Awards and Recognition

Quaye’s contributions to the business sector have been acknowledged through numerous awards, including:

• Outstanding Business Leader of the Year (Investment)
• Outstanding Business Investor Award at the Ghana Business Standards Awards 2021
• Outstanding Financial Service Entrepreneur of the Year at the 11th Ghana Entrepreneur & Corporate Executive Awards 2021
• Outstanding CEO of the Year at the same event
• Promising Entrepreneur at the Ghana Business Awards 2020
• Overall 40 Under 40 Award in 2020
• European CEO Entrepreneur of the Year Award 2020 by Global Business Outlook

Additionally, Quaye has been featured in “Those Who Inspire,” a publication endorsed by the President of Ghana, and has lectured on entrepreneurship at Harvard Business School. 

Philanthropy and Social Responsibility

Beyond his business endeavors, Quaye is committed to philanthropy, supporting educational scholarships, healthcare initiatives, and community development projects. His approach to business reflects a balance between profitability and social impact, reinforcing his belief in building enterprises that serve the greater good.

Personal Life

Richard Nii Armah Quaye maintains a relatively private personal life. He is known for his dedication to family and often credits his upbringing for instilling in him the values of hard work and perseverance.

Richard Nii Armah Quaye’s journey from a budding entrepreneur to a leading business magnate exemplifies vision, resilience, and strategic acumen. His contributions have not only transformed Ghana’s financial landscape but have also inspired a new generation of entrepreneurs. As he continues to expand his business ventures and philanthropic efforts, Quaye remains a pivotal figure in Africa’s economic development.