UT bank was iconic but government killed it – Kofi Amoabeng reiterates

The former Chief Executive Officer for UT Bank and UT Holdings, Prince Kofi Amoabeng (rtd) has stated that the government collapsed UT Bank.

Speaking on Starr Chat Bola Ray on Thursday, January 25, 2024, the retired Captain explained that at the time the government wanted to revoke the license of his bank he was bringing in investors.

According to him, the UT bank was publicly listed on the Stock Exchange with about 15,000 Ghanaian individual shareholders, “then you withdraw the license and Stock Exchange stops trading in those shares.”

He indicated that at the time Bank of Ghana withdrew the license, the shares had some kind of value which should have been addressed holistically.

“UT was an iconic company for Ghanaians and we had an indigenous company that we could be proud of. We have won all kinds of awards including internal national awards.

“We were number two at some point in time on Ghana Club 100 and a story I personally was invited to Oxford to share this idea, you don’t just kill it. I am not talking about Kofi Amoabeng. I am talking about Ghana that we were able to build something that outside appreciate and will want to hear about and you just killed it,” Mr. Amoabeng stated.

He continued: “You killed it for what seek? So the issue is I don’t have the time to hate people and bear grudges, but as we sit here I am consumed by the passion to create leaders who are different. Leaders who will not look at the myopic thing but think about Ghana and Africa, that is what I am doing now.”