Founder and Leader of Heaven’s Gate Ministries, Nicholas Osei, popularly known as Prophet Kumchacha has hit hard at the founder of International Central Gospel Church, Pastor Dr. Mensah Otabil over the recent takeover of Capital Bank by GCB Bank.

According to him, Pastor Otabil who’s the board chairman for Capital Bank couldn’t resuscitate Capital Bank with less than two million customers when it was on the verge of collapsing, yet he was quick to criticise and called Former President John Mahama’s government ‘incompetent’.

“When President Mahama was in power, Dr. Mensa Otabil called him ‘incompetent’. He extensively criticised the former President that he can’t rule over 27 million population but you (Otabil) with this small Bank (Capital Bank), you couldn’t keep this bank in business and sat to watch it collapse,” Kumchacha disclosed to Gatuso on Aben Wa Ha show on Kasapa FM.

The Akan speaking pastor revealed how disappointed he is with regards to Dr. Mensa Otabil’s high level of academic excellence and strong links but failed to utilise them to keep his own bank in business.



The GCB Bank Ltd announced total take over the control of UT Bank and Capital Bank, a Press statement from the Bank of Ghana said Monday.

This follows the BoG’s approval of a Purchase and Assumption transaction with GCB Bank Ltd that transfers all deposits and selected assets of UT Bank Ltd and Capital Bank Ltd to GCB Bank Ltd.

According to the BoG, the move has become necessary due to a severe capital impairment of the two financial institutions.

Kasapafmonline.com has learnt some three banks bid to purchase the two banks where ‘GCB was selected amongst 3 others on the basis of purchase price, cost of funding, branches to be retained, staff to be employed and impact on the acquiring bank’s capital adequacy ratio’, the central bank said.

Notwithstanding this, the Bank of Ghana said deposits of customers are safe and banking operations of the two banks will continue as normal.

‘The Bank of Ghana assures the public that all customers can continue normal banking business at all UT Bank and Capital Bank facilities which are now branches of GCB bank’.