Prince Kofi Amoabeng, the renowned Ghanaian businessman and former CEO of the defunct UT Bank, has shared his perspective on the bank's closure and the broader systemic issues plaguing Ghana's financial sector.
Speaking on Joy Prime's PM Business with George Wiafe monitored by MyNewsGh, Mr Amoabeng offered a candid account of the challenges UT Bank faced and the lessons he has drawn from its demise.
Reflecting on the closure, he criticized the financial logic behind the decision, arguing that the cost of shutting down the bank far exceeded the support it initially required. "We had liquidity support, but the amount spent to close us down was much higher.
Instead of recovering the funds owed, more money was lost in the process.
