UT Saved Ofori-Atta’s Company From Collapsing – Angry Kofi Amoabeng Alleges

Prince Kofi Amoabeng, the Chief Executive Officer of now-defunct UT Bank has alleged in a recent interview that he saved Ghana’s Finance Minister, Ken Ofori-Atta’s company from collapsing.

In an exclusive interview with TV3 Business Focus, disappointed Kofi Amoabeng stated loud and clear that Ken Ofori-Atta run to UT for a loan just to save his company from collapsing.

He stated with all certainties that the said loan was what has saved the Finance Minister’s company from hitting the rock at the time.

He recalled;

“The Minister of Finance, the same thing; his own company would have gone down…and I said this’s Ghanaian company and they still got the potential and we help them out.”

Angry Kofi Amoabeng did not stop there, he went on the tell the world that President Akufo-Addo before coming to the president run to him for a loan to finance his political campaign.

He revealed;

“In actual fact, our president; today’s president, when he was in opposition in his own party in around 2003, he came to UT of all places, a local company, and we gave him a loan and he admits that.”

Turn of events

The Bank of Ghana on Monday, August 14, 2017, revoked the licences of UT and Capital banks due to their insolvency, leading to a seamless takeover of the two banks by GCB Bank.

UT Bank, which was trading on the Ghana Stock Exchange, had it’s listing status also suspended.

Provisional figures showed the total liability of UT Bank stood at GH¢850 million while its total assets were pegged at GH¢112 million.