Big companies don’t always begin with big ideas.
 
Hubtel’s story started with a small idea, from three young men who saw an opportunity and chased it. 

In a recent interview on Asempa FM’s Ekosiisen show, Hubtel CEO, Alex Bram shared how that simple beginning grew into Ghana’s leading fintech. 

The show, hosted by Mr. Osei Bonsu, aimed to equip entrepreneurs, business owners, and young professionals with practical guidance for the new year through its annual “Beginning the Year Right” series. 

The interview was a reflective conversation about the realities of building a technology business from the ground up. 

WATCH FULL INTERVIEW HERE 

Where It All Began 

Alex traced his entrepreneurial journey back to 1998 at St. Augustine’s College, where he and his Science 2 classmates, Ernest Apenteng and Leslie Gyimah, first explored the idea of building something together. 

Their first venture was a school magazine called Student Rally, which failed, but planted an early seed. 

“At that time, I had a strong drive to be successful,” Alex shared. “Back then, success felt like it came through these three paths: becoming a professional like a doctor or lawyer, travelling abroad, or starting a business.” 

Medicine did not work out. Travelling abroad followed. In 2003, Alex and Ernest moved to London, taking up menial jobs. But that chapter did not feel like the future. 

By the time they returned to Ghana, text messaging was gaining ground. In 2005, on their last day of school, they started SMSGH and built it from Alex’s father’s dining hall, using a single Pentium 3 computer. 

The idea was simple: help businesses communicate with customers through SMS alerts, and broadcasts. 

Early Wins and Hard Lessons 

The early days were tough. Big banks would not grant them meetings. So, they started small, working with travel and tour companies, then later with airlines. 

Their first big break came with North American Airlines, earning them five million cedis in old currency. From there, insurance companies and banks followed. 

By 2007, SMSGH had crossed half a million dollars in revenue. 

But Alex made one thing clear, early success did not lead to comfort. 

“We didn’t spend the money on luxury,” he said. “Our first office was my bedroom. By day it was an office, by night it was where I slept.” 

Titles did not matter in the very early stages, as the focus was on building the company and putting in a collective effort and dedication. Alex moved between operations, sales, marketing, and management, doing whatever the business needed at the time. 

When Growth Slowed  

Between 2009 and 2012, the company continued to build. But by 2013, something had changed. Growth dropped from the previously recorded 300% to about 30%, then down to 9% by 2015. 

“The market had evolved,” Alex explained. “Internet usage had increased, WhatsApp had come, and SMS alone was no longer enough. Businesses needed more, especially around payments.” 

That realisation marked a turning point. 

The Pivot to Hubtel 

In 2017, SMSGH officially rebranded to Hubtel. 

The change was not just in name. It was a complete shift in direction, from messaging to payments and digital services. 

Between 2016 and 2018, the company restructured, lost some employees, and rebuilt with a stronger focus on product, engineering, and long-term relevance. At the time of the rebrand, Hubtel had approximately 110 staff members. Today, the company has over 700 staff members. 

Alex also shared one of the toughest strategic decisions the company made, closing Hubtel’s offices in Kenya, Nigeria, and Cameroon to focus fully on Ghana. 

“Africa is big,” he said, “but we wanted to build a brand that Ghanaians truly loved before expanding elsewhere.” 

Becoming Ghana’s Leading Fintech 

By the end of 2022, Hubtel had become Ghana’s largest fintech by transaction volume. 

Hubtel processes about 3.5 million transactions daily, representing roughly 10-12% of the Ghanaian market, with room to grow. 

Beyond payments and commerce, Hubtel also supports government digitalisation, having contributed to platforms like Ghana.GOV and the ECG Power app, helping improve public service delivery. 

Trust, Governance, and Leadership 

Trust, Alex emphasised, starts internally. For him, trust start with how a company treats its people. 

Hubtel’s focus on transparency allowed businesses to see every transaction clearly, helping build confidence over time. 

Strong governance also played a major role. Alex highlighted the impact of experienced board members such as Patience Akyianu, who helped strengthen financial discipline after the company recorded a significant accounting loss during its transition years. 

“When you have a strong board, they can call you to order,” he noted. 

Innovation, Failure, and Building in Africa 

On innovation, Alex encouraged African entrepreneurs to adopt a mindset of testing and iteration. 

“In other markets, people test and fail until it works. Here, we tend to be too cautious.” 

His advice was simple: test your ideas, tweak when they fail, and choose ideas that match your capacity and resources. 

Timing, he added, also matters. 

“Momentum is key. If I had finished school today, I’m not sure the same opportunities would exist.” 

READ ALSO: Hubtel Awarded Overall Best Fintech Partner at the MobileMoney Fintech Stakeholder Dinner & Awards 

Hubtel Newest Innovation – BackOffice App  

Alex also touched on Hubtel’s latest innovation, the Hubtel BackOffice, which allows businesses to use smartphones as POS devices. With NFC-enabled phones, customers can tap cards, pay via mobile money, QR codes, and complete transactions without additional hardware. 

A Message to Young Entrepreneurs 

Alex closed with a message rooted in persistence and purpose. 

“Don’t be scared of failure. We’ve failed many times. Dedication, focus, and consistency are what make it work.” 

He described Hubtel’s guiding philosophy as being useful every day, not just for businesses and customers, but also internally, ensuring employees feel fulfilled by the value they create. 

Conclusion 

Alex Bram’s interview on Asempa FM was more than a founder story. It was a relatable conversation on resilience, adaptability, and building with intention in Ghana. 

As the main sponsor of the Beginning the Year Right series, Hubtel’s participation reinforced its commitment not just to technology but to empowering businesses, supporting entrepreneurs, and contributing meaningfully to Ghana’s digital future.