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Business News of Sat, 27 Aug 201610

‘Dumsor’ affected UT Bank – Amoabeng

The erratic power supply situation that Ghana suffered for almost four years affected several businesses including UT Bank, Prince Kofi Amoabeng, founder of UT Holdings, has said.

Speaking in an interview with DJ Premier on Entertainment Capital on Accra100.5FM on Saturday August 27, Mr Amoabeng said: “A lot of businesses collapsed because of the power crisis, UT suffered a lot of bad loans.”

“UT Bank got a big hit,” he emphasised.

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Meanwhile, government in June this year said Nigeria’s inability to supply crude oil was partly responsible for recurring power outages across the country.

Deputy Power Minister John Jinapor explained: “We (government) are having some problems with even crude supply that we have paid for that they [Nigeria] have not been able to deliver…”

Recently, there has been an improvement in the energy situation in many parts of the country.

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