Founder of the defunct UT Bank, Prince Kofi Amoabeng, has revealed his lifelong dream of assuming the highest office of the land, which is the presidency.

He is hopeful his dream will materialise someday.

"If I were to choose between my biggest options in life, I would choose to be the president of Ghana," he declared in an interview with Konnected Minds.

The retired military officer also spoke about how Ghana is being held back by the type of governance system being practiced.

While he is a fan of the democratic system of governance, Kofi Amoabeng believes that the system needs to be reviewed to suit the peculiar challenges of the country.

"We have democracy, and that dispensation will never get us out of this mess. This is because the system is managed by political parties, and looking at what we have now, a political party must amass a lot of wealth which they will use to convince the people to vote for them.

"So, by the time we have a president, the machinery that we put there is in debt and owes a lot of favours and money and has to pay back those monies with interest. The only way to do that is to be corrupt," he added.

The founder of the defunct UT Bank added, "We must look at our democracy again and tweak it. I don't believe in one man, one vote. It will never give, and for that matter, Africa, the leader that we want.

"Democracy is by representation, and we choose people to represent us in Parliament and other arms. Why should we all vote? For example, we can go through a referendum and say this class of people should vote to elect our president."

Kofi Amoabeng also appealed to the country's leadership to create the right environment for businesses to grow.

"For a country to be great or to be developed, it has to have a big GDP. And the drivers of GDP are the CEOs. Politicians should focus on creating an environment conducive for businesses to thrive.

"What is happening is because our politicians have become dirty, and they need so much money, they have become the creators of the CEOs. So, for example, if you are getting successful, they must align with you to make some of the money to propagate their agenda," Amoabeng explained.

Collapse of UT Bank

The Bank of Ghana (BoG) revoked the 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.

SA/AE



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