Renowned businessman and Executive Chairman of Jonah Capital, Sir Sam Jonah, has issued a stark warning about the devastating impact of government actions on entrepreneurs, pointing to the collapse of UT Bank as a chilling example of how easily success can be erased by those in power.
Speaking at the launch of The UT Story: Volume 3 by Prince Kofi Amoabeng, Sir Sam Jonah did not hold back in condemning the state's role in the bank's demise.
He argued that the forced closure of UT Bank was not just an attack on one business but a direct assault on Ghanaian entrepreneurship itself.
According to him, the bank's collapse was "one of the most egregious acts of economic injustice perpetuated by the state," driven not by sound economic reasoning but by "malice, deceit, envy, and jealousy." He warned that such reckless actions create a dangerous precedent where no entrepreneur is safe, regardless of how diligently they operate. "It was not only a collapse of a bank, it was a blow to the very idea that Ghanaians could build something of their own and succeed at the highest level.
