Prince Kofi Amoabeng has shared profound insights on the current state of Ghana's banking sector in a recent interview on PM Business with George Wiafe, monitored by MyNewsGh.
The former CEO of the defunct UT Bank, reflecting on his experience, expressed concerns about the over-reliance on raising minimum capital as a solution to the sector's challenges.
He noted that the real issue lies in the banks' capacity to grow organically, something that isn't addressed by simply increasing the minimum capital requirement.
Amoabeng also discussed the inefficiencies within the judicial system, which he believes have a significant impact on the banking sector. "Recovery cases can take years to resolve, even when all evidence is clear," he remarked.
