Prince Kofi Amoabeng has the challenges of running a business in Ghana, pointing to a system deeply rooted in personal connections rather than due process.
The former CEO of the defunct UT Bank, while speaking on Joy Prime's PM Business with George Wiafe, pulled no punches in critiquing the country's business environment and financial sector policies.
Reflecting on the closure of UT Bank, Amoabeng revealed a striking paradox. "We had liquidity support of 800 million Ghana cedis, yet they used over 2.2 billion Ghana cedis to shut us down," he said, his frustration palpable. "You lose the 800 million owed to you and spend more to close the institution.
That doesn't make sense.
