Award-winning Ghanaian rapper Kwame Ametepee Tsikata, popularly known in the music industry as M.anifest, has urged entrepreneurs to learn from the collapse of the UT and Capital Banks, rather than allow the situation to discourage them.
The rapper said the confidence of Ghanaian entrepreneurs need not to be shaken at all, insisting a lot can be learned from the troubles of the collapsed commercial banks.
“Hopefully, this also does not shake people’s confidence in wanting to be Ghanaian entrepreneurs. Because things happen and we learn from all these things,” M.anifest remarked.
According to him, local entrepreneurs must still “embark on creating Ghanaian companies, Ghanaian products, Ghanaian things and yeah this is not the end of the world.” ?He noted that despite the negativity that the collapse of the UT and Capital Banks is bound to breed, entrepreneurs must not be deterred, urging them to pick “a lesson for the future”. ?
The ‘God Mc’ hit maker also had his take on employees likely to be affected by the collapse of the two banks, expressing his compassion towards those who stand to be laid off. ?The UT and Capital banks were ordered to cede their possessions to the GCB Bank, after the Bank of Ghana described their situations as “capitally impaired”.
The development came as a shock to majority of Ghanaians, with people now exercising caution when it comes to investing in indigenous banks. However, M.anifest believes Ghanaian entrepreneurs should see it as a learning curve rather than a discouragement.