Seven-year term better for Ghana gov'ts - Amoabeng

Business magnate Prince Kofi Amoabeng has said the four-year constitutional term given Ghanaian Presidents to execute their agenda is not enough.

He said the nature of Ghanaian politics makes it difficult for politicians to combine executing their agenda as required by proper management principles and winning votes.

“I think the issue is with the four-year tenure… I don’t think it's enough to do all things you want to do. And the nature of our situation is that the politicians are also thinking of how to win votes and please the people.

“The issue of whether the tenure must be extended or not is perhaps a subject for another day but I think if there is one term of even seven years, I will prefer that to four years that people have to go for a second term; that is my personal position,” the outgoing Chief Executive Officer of UT Bank told Paa Kwesi Asare on Business Edition on Starr 103.5FM Tuesday.

Amoabeng will become the president of the UT Group of Companies after 2015. He successfully established UT Bank Ghana Limited, which commenced business as a Finance House in 1997 and evolved from a lending company to a Universal Bank. It is publicly owned and actively traded on the Ghana Stock Exchange.

UT Bank has positioned itself as a lending bank that seeks to change the face of banking in Ghana through fast, efficient and respectful delivery of products and services. As one of the fastest growing banks in Ghana, UT Bank provides innovative customer oriented products and services, focusing primarily, on the financial needs of small and medium sized enterprises (SMEs).