Captain Prince Kofi Amoabeng (Rtd), the Chief Executive Officer (CEO) of defunct UT Bank says he was not greatly affected by the collapse of his bank as people may perceive.
He noted that he has always lived a simple life even as CEO and as such losing his bank did not really affect his lifestyle.
Detailing his point, he mentioned on the Happy Morning Show hosted by Samuel Eshun: “I had only one shoe and I had one watch which was gifted to me so I hadn’t lost anything. Even though the bank was taken and my account was frozen, it didn’t affect the core of me. I can always afford one shoe. I can always have one car. I don’t need to live in a mansion. So, I try my best to help the people around me.”
Based on this, the businessman advised that people should do away with materialistic lives and focus on what matters most in life.
“People are materialistic and I think they need validation from wherever. Thus, they do things and look for money by all means. It is not necessary. I think we didn’t come to this world to be materialistic and amass wealth. We came to better our worth,” he added.
The BoG revoked licenses of UT Bank Ltd and Capital Bank Ltd and approved a Purchase and Assumption (P&A) transaction with GCB Bank Ltd that transferred all deposits and selected assets of the two banks after they were found to be deeply insolvent.
The Central Bank subsequently revoked the universal banking licenses of five banks including UniBank Ghana Limited Construction Bank Sovereign Bank, Royal Bank and Beige Bank and issued a license to a newly created bank Consolidated Bank Ghana Limited – which is wholly owned by the Government of Ghana.
BoG further revoked the licenses of 23 insolvent savings and loans and finance house companies.
Meanwhile, Kofi Amoabeng is out with a new book titled, ‘The UT Story: Humble Beginnings’ which shares his experience and how business-minded people can take advantage of the learnings from his experience.
