The Executive Chairman of Jonah Capital and a well-known businessman, Sir Sam Jonah, has denounced the failure of UT Bank as one of the most obvious instances of economic injustice against the expansion of the private sector.
He claims that the government’s choice to close the bank six years ago has had a long-lasting effect, deterring business people from taking risks that can revolutionize Ghana’s economy.Ghanaian-inspired merchandise
Speaking at the publication of Prince Kofi Amoabeng’s The UT Story: Volume 3, Sir Sam Jonah underlined the importance of protecting companies from political meddling.
He warned that too much government intervention undermines investor trust and impedes long-term economic growth, and he urged authorities to create a stable and predictable business environment.
“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 the fragile nature of businesses when it’s 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 , how well you play by the rules , your success can easily be undone done by those in power,” citinewsroom.com quotes him as saying.
Prince Kofi Amoabeng, who founded UT Bank and wrote the book, encouraged the younger generation and enterprises to make brave choices that will change the country and expressed hope that they will recover 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 said.
The book’s initial copy sold for GH¢50,000. Prominent CEOs and business executives from many economic sectors graced the launch.
Source: www.ghanaweb.com
