Richard Nii-Armah Quaye (RNAQ): A Ghanaian industrialist championing financial inclusion and entrepreneurship in Africa

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In the vibrant landscape of African entrepreneurship, Richard Nii-Armah Quaye stands out as a visionary leader, making significant strides in finance, investment and entrepreneurial support. As the President of RNAQ Holdings, RNAQ oversees a diverse portfolio of businesses, with a clear vision: to scale African-led ventures globally.

At the heart of RNAQ's impact lies his commitment to financial inclusion and SME development, which he has demonstrated through his leadership of Bills Micro Credit and Quick Angels Limited.

Bills Micro Credit: Empowering Individuals and Businesses

Founded in 2009, Bills Micro Credit has evolved into a leading microfinance company in Ghana, formerly known as Quick Credit and Investment Microcredit Limited. Bills Micro Credit provides short-term working capital and financial services to individuals and small businesses across Ghana.

Over the past 16 years, Bills Micro Credit has disbursed billions of Ghana cedis in loans and currently serves an active customer base of over 350,000. In 2023 and 2024 alone, it disbursed ₵3.2 billion in loans. The company is supported by a workforce of more than 2,000 direct employees and is widely regarded as the leading microfinance company in Ghana, with the largest market share in the industry.

Under RNAQ’s leadership, Bills Micro Credit expanded its footprint beyond Ghana through the establishment of OYA Micro Credit in East and West Africa, including operations in Tanzania, Kenya, Uganda, Sierra Leone, Nigeria and Liberia. The name “OYA,” meaning “Quick” in the Ga language, a tongue well known and spoken in Ghana and of RNAQ’s origin, “OYA” reflects the brand’s roots and commitment to fast, accessible financial services.

Quick Angels Limited: Fueling Growth and Innovation

In 2019, RNAQ established Quick Angels Limited, a private equity and angel investment firm that supports early-stage and growth-stage businesses with both capital and strategic guidance. The firm is recognized as Ghana’s first institutionalized angel investor company.

Since its founding, Quick Angels has invested over ₵500 million across more than 30 Ghanaian-owned businesses, collectively employing thousands of Ghanaians. The portfolio includes notable brands such as CEQA Foods (Pizzaman and Chickenman), GoldCoast Foods (Sankofa Natural Spices), Ridge Medical Centre, Pinkberry (Ghana), Royalty QSR Ghana Ltd (Burger King), Bloomway Ltd (D33d3w Spices), Lynx Group Limited, Tigon Creative Studio, and COLI Link.

Quick Angels’ equity-financing model is aimed at scaling local brands, creating jobs and accelerating domestic entrepreneurship. The company continues to contribute significantly to Ghana’s startup ecosystem and youth employment landscape.

RNAQ Foundation: Igniting Hope and Building Legacies Across Africa

The RNAQ Foundation, established in 2025, aims to become a leading African legacy foundation. It focuses on transforming lives, restoring dignity, and building Black wealth through programs that empower communities, support local businesses and use wealth to drive change. The foundation addresses issues like food insecurity and lack of wealth systems, as well as youth disillusionment. Early initiatives include donations to the Muslim community for Eid-ul-Fitr and support for the Kumasi Adum PZ market fire victims. The foundation is set to make a significant impact across Africa and beyond.

Essentially, Richard Nii-Armah Quaye's journey is a testament to his dedication to financial inclusion, SME development, entrepreneurial support and philanthropy. His leadership has not only shaped the success of Bills Micro Credit and Quick Angels Limited but has also made a lasting impact on Africa’s economic landscape. Through his ventures, RNAQ is fostering growth, creating opportunities, and inspiring a new generation of entrepreneurs in Ghana and Africa at large.

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