Renowned businessman and Executive Chairman of Jonah Capital, Sir Sam Jonah, has strongly criticised the collapse of UT Bank, describing it as a significant act of economic injustice that has stifled private sector growth in Ghana.
He argued that the government's decision to shut down the bank six years ago has had far-reaching consequences, discouraging ambitious entrepreneurs from pursuing transformative ventures.
Speaking at the launch of 'The UT Story: Volume 3' by Prince Kofi Amoabeng, Sir Sam Jonah underscored the critical need to protect businesses from undue political interference.
He emphasised that a stable and predictable business environment is essential for long-term economic prosperity, warning that excessive state control undermines investor confidence and stifles entrepreneurial ambition.
