UT Bank Collapse Was a Political Hit Job – Sir Sam Jonah Fires
enowned businessman decries UT Bank’s shutdown as an act of economic injustice, warning that political interference threatens private sector growth and investor confidence.
- Sir Sam Jonah condemns the UT Bank collapse as a politically motivated attack on private sector growth.
- He warns that the shutdown discouraged bold initiatives and sent a chilling message to Ghanaian innovators.
- Kofi Amoabeng remains optimistic, focusing on grooming ethical leaders rather than reviving the bank.
Renowned businessman and Executive Chairman of Jonah Capital, Sir Sam Jonah, has described the collapse of UT Bank as a grave economic injustice that undermined private sector growth.
Speaking at the launch of The UT Story: Volume 3 by Prince Kofi Amoabeng, he lamented the government’s decision to shut down the bank six years ago, stating that it discouraged bold entrepreneurial initiatives and sent a chilling message to innovators that success could be easily undone by political forces.
Sir Sam Jonah stressed the need for a stable and predictable business environment, warning that excessive state interference erodes investor confidence. He described the bank’s closure as “one of the most egregious acts of economic injustice,” attributing it to malice, deceit, envy, and jealousy.
Prince Kofi Amoabeng, founder of UT Bank and author of the book, remained optimistic about the future, urging young entrepreneurs to make bold decisions that transform the nation.
He emphasized that his vision extends beyond rebuilding a bank—focusing instead on grooming ethical leaders who can reshape Ghana’s economic narrative.
The book’s first copy was auctioned for GHS 50,000, with several distinguished CEOs and business leaders in attendance.
