Kofi Ahovi

  UT Bank and GN Bank may soon re-enter Ghana’s financial landscape, Senior Partner at AB & David Africa, David Ofosu Dorte has predicted.  This he says marks a potential shake-up in the country’s banking sector. Speaking on the evolving financial market at the 2025 Crystal Ball Event, Ofosu-Dorte predicted that at least, one of the two defunct banks could regain its operating license in the near future. UT Bank and GN Bank—one of them will get their license back,” he stated, adding that this move could signal a broader shift in Ghana’s banking ecosystem. In addition to this anticipated development, Ofosu-Dorte noted that MTN’s planned transition into a fully operational bank could disrupt the market significantly. MTN has already announced becoming a bank. It will look more real soon, and a lot of banks will be scared,” he remarked. Ofosu-Dorte also alluded to expected changes at the Development Bank Ghana (DBG), suggesting a shake-up could be on the horizon for the state...

Former UT Bank founder and CEO Prince Kofi Amoabeng has questioned the International Monetary Fund's (IMF) involvement in the closure of UT Bank and how the process was carried out. Speaking on Joy News’  PM Express Business Edition  on Thursday, January 16, he expressed concerns about the Bank of Ghana’s decisions and whether they were unduly influenced by external pressures. It was a very interesting comment,” Amoabeng began, referring to the Bank of Ghana Governor’s assertion that the IMF had influenced the decision. “One, I had my suspicions that IMF had a role to play in it, but I couldn’t confirm it. So if you ask me, I believe in what the governor said, that the IMF influenced the program. But then, it’s a sad statement for him to make because it means the leadership in Africa don’t have the independence and the will to do what is right for their country, and they have to be dictated to.” Kofi Amoabeng pointedly questioned the specifics of the IMF’s alleged influence, e...

  The Founder of the defunct UT Bank, Capt (rtd) Prince Kofi Amoabeng, has disclosed that philanthropist and businessman, Alhaji Seidu Agongo, offered to extend his benevolence to him when he appeared in images wearing an unusually scruffy beard. The retired Ghana Armed Forces Captain said while other Ghanaians used those pictures to mock and laugh at him, Alhaji Agongo, also the founder of the collapsed Heritage Bank, contacted him on the quiet to ask if he could be of help in any financial difficulty that he might have found himself in. The seasoned entrepreneur said although he did not pursue the benevolent request, the gesture by the owner of the Class Media Group (CMG), among other businesses, touched him in a manner that made him understand that at least, one of his fellow Ghanaians cared about his welfare. Capt (rtd) Amoageng was made the disclosure when he spoke to Nana Otu Darko, host of CTV’s Breakfast Show, on Tuesday. He said the led to him forming a pleasant image abou...

Governor of the Bank of Ghana, Dr. Ernest Addison, has provided a detail response to the reason the Central Bank will not be appearing before a Parliamentary Committee to answer a petition by some shareholders of defunct UT Bank and Unibank. According to him, one of the major reasons is to allow the legal proceedings to flow smoothly, since some of the shareholders have already slowed the process with many counter suits. Speaking at the Ghana Chamber of Commerce and Industries Business Forum,  Dr. Addison said “running to parliament to seek redress for the revocation of an institution’s licence is not one of the processes laid down under the law for those who feel aggrieved by a licence revocation by the Bank of Ghana.  There are already a number of actions filed in court and at arbitration by the same persons who run to parliament for cover up and the Bank of Ghana simple response to parliament is respectfully to allow the pending legal processes to run their course.” Indeed ...