By Kingsley LARBI (Rev. Prof.)
Chapter 36 of my book titled “Born to Win” reveals that in an era where businesses, startups, and institutions often credit their success to financial strength, political backing, or a wealth of human capital, the story of Central University College (CUC) presents an intriguing counter-narrative.
Founded under the visionary leadership of Rev. Dr. Mensa Otabil and developed through the relentless dedication of Rev. Dr. E. Kingsley Larbi, CUC defied conventional wisdom. Established in November 1998, ahead of older and financially stronger church institutions, CUC’s journey is a testament to the power of vision, resilience, strategic decision-making, and faith.
For contemporary entrepreneurs, businesses, and individuals navigating a world of uncertainty and limited resources, the principles underlying CUC’s meteoric rise offer invaluable lessons. This article deciphers the success blueprint embedded in Chapter 36 of Born to Win and applies these insights to today’s economic landscape.
The myth of resources: Money is not the answer
One of the most compelling revelations from the Central University story is debunking the myth that financial capital is the primary driver of success. Many attributed CUC’s early start to its presumed financial strength, yet the reality was quite different. Unlike other denominational universities that started later, Methodist University in 2000, Presbyterian University in 2003, and Catholic University in 2003, Central University had no existing infrastructure, little financial backing, and a limited pool of highly qualified professionals.
The university’s takeoff was made possible through extreme prudence, faith, and the creative use of credit arrangements. The first operational costs were covered by the church, and much of the initial infrastructure was acquired through credit agreements, including the university’s main campus building and its first set of equipment. Similarly, entrepreneurs today must recognise that success is not necessarily about starting with abundant financial resources but rather about leveraging available assets, being resourceful, and managing capital prudently.
For instance, in the modern startup ecosystem, companies like Airbnb and Uber initially had little to no financial backing. Airbnb’s founders, Brian Chesky and Joe Gebbia, famously rented out air mattresses in their apartment to generate capital for their business. Likewise, CUC’s founders relied on faith, negotiation skills, and an unwavering commitment to their vision to navigate financial constraints.
Vision and leadership: The true differentiator
Leadership and vision played a crucial role in CUC’s success. While many institutions had the credentials, professors, and financial resources, they lacked the drive to take bold initiatives. CUC, on the other hand, started from “Ground Zero” but was fueled by an unwavering vision and strategic leadership.
Modern-day businesses must understand that leadership is not about titles or accumulated credentials but about decisive action. Consider Tesla’s meteoric rise under Elon Musk, who, despite financial struggles and near-bankruptcy in 2008, steered the company to become a global leader in electric vehicles. The success of Tesla, much like CUC, was built on a foundation of innovation, persistence, and faith in a transformative vision.
Similarly, Ghanaian entrepreneurs must take bold steps in leadership. With a growing economy and digital transformation accelerating sectors like fintech, agritech, and edtech, opportunities abound for those willing to take calculated risks.
The role of faith and determination
A striking takeaway from CUC’s journey is the role of faith, not just religious faith, but faith in a vision, faith in people, and faith in an unseen future. Rev. Dr. Larbi personally used his laptop to facilitate university operations before the acquisition of proper equipment. This demonstrates a mindset that modern entrepreneurs must adopt: the belief that temporary setbacks should not define long-term success.
Many modern startups that ultimately achieved global recognition faced initial resistance. WhatsApp, now one of the most widely used communication apps worldwide, was rejected multiple times by venture capitalists. Similarly, Jack Ma, founder of Alibaba, was rejected from Harvard ten times and faced numerous business failures before succeeding. The key lesson here is that resilience and unrelenting belief in one’s mission can transform a struggling startup into an industry leader.
Funding through smart financial management
Another critical lesson from CUC’s success story is the strategic use of internally generated funds. The university was primarily funded through school fees, with operational and capital expenses covered by this income. The takeaway for businesses and entrepreneurs today is clear: revenue generation should be prioritised over over-reliance on external funding.
For instance, Ghana’s burgeoning mobile money industry, which recorded GH₵ 1.2 trillion ($100 billion) in transactions in 2021, illustrates the power of a sustainable, internally driven financial model. Mobile money operators leveraged service charges and partnerships rather than external investments to fuel their growth. Entrepreneurs must think beyond securing loans or grants; they must find ways to monetize their ideas from the onset.
Strategic partnerships and negotiation skills
CUC’s founders understood the power of negotiation. The university’s early growth was driven by well-arranged credit agreements that allowed it to acquire vital infrastructure before generating substantial revenue. Likewise, modern businesses must embrace negotiation as a critical skill.
Consider the example of MTN Ghana, which successfully negotiated strategic partnerships to expand its mobile money services and digital offerings. Entrepreneurs must actively seek partnerships, not just for funding but also for technology, expertise, and market expansion.
Conclusion
The story of Central University College is more than a historical account; it is a playbook for contemporary success. The five pillars of its success—resourcefulness, visionary leadership, faith, financial prudence, and strategic partnerships are as relevant today as they were in 1998.
For today’s entrepreneurs, businesses, and professionals, the lessons are clear:
- Money is not the primary determinant of success; resourcefulness is.
- Leadership is about action, not just credentials.
- Faith in a vision fuels resilience.
- Smart financial management is essential for sustainability.
- Strategic partnerships open doors to growth and expansion.
As Ghana continues to evolve into a thriving hub of business innovation, it is these principles that will determine who succeeds and who falters. Just as CUC defied the odds to become one of Ghana’s leading private universities, modern entrepreneurs can defy conventional limitations and build enterprises that stand the test of time. The question is: are you ready to embrace the success prescription?
