Founder of the now-defunct UT Bank, Capt. (rtd) Prince Kofi Amoabeng, in retrospection, has realised the decisions he made that led to the collapse of his financial institution.
Mr. Amoabeng was accused by the state of mishandling depositors’ cash by engaging in fictitious and unlawful activities which led to the collapse of UT Bank in 2017.
In that very year, he admits that his bank was not faring well at the time of the banking sector cleanup.
“The bank wasn’t doing that well at the time but the way the government acted, some banks were helped, some banks were closed. That is what irritates me,” he stated while citing political influence as reason for the ‘biased selection’.
In a recent interview on Kingdom FM, Prince Kofi Amoabeng noted that if given the opportunity to go back in time before the collapse of UT Bank, he would stay away from the actions that caused him his business.
He did not specifically name the exact actions he would stay away from as his submission was quite vague.
“Do you think if UT should be back to where it was and I go back, I would repeat those same mistakes? I won’t repeat the same mistakes. I know exactly the mistakes that I committed,” he said.
He made this submission while endorsing 2024 National Democratic Congress flagbearer, John Dramani Mahama, whom he saus is the best candidate to lead Ghana at this time, citing the experience he gained during his first term in office.
“…I look at President Mahama, and what I have to say about him is that we have never had somebody who has been president before becoming president again; it is only Mahama.
“And therefore, if you ask me, it is worth giving Mahama the chance because he has been there before.
Meanwhile, former President Mahama has noted that in his next administration, he would restore all financial institutions that were unfairly collapsed during the banking sector cleanup exercise.