Executive Chairman of Jonah Capital, Sir Sam Jonah, has opined that the closure of UT Bank has had lasting consequences.
The incident he noted discouraged entrepreneurs from pursuing bold initiatives that could have helped the economy to transform.
Mr. Jonah also described the closure of the bank as acts of economic injustice against private sector growth.
He made the remarks while speaking at the launch of The UT Story: Volume 3 by Prince Kofi Amoabeng.
“This is perhaps the most profound and most painful chapter in Kofi’s journey, for it speaks not only of his success but also of betrayal, of the harsh realities of power, and of the fragile nature of businesses when they’re entangled with politics.
“The seizure of his bank was one of the most egregious act of Economic Injustice perpetuated by the state ; a move driven by malice ,deceit ,envy and jealousy,” he bemoaned.
“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. It sent a chilled message to entrepreneurs and innovators that no matter how hard you try, no matter how hard you work, and no matter how well you play by the rules, your success can easily be undone by those in power,” he said.
The Founder of UT Bank, Prince Kofi Amoabeng on his part expressed optimism that he will bounce back stronger.
“The vision should not necessarily be a bank coming back .The vision that I have now is bigger than the bank: it is about how we can groom and create leaders with the right values who can change the narratives,” he stated.
The first copy of the book was sold at GHS 50,000.
By: Rainbowradioonline.com/Ghana
