Kofi Amoabeng, the former Chief Executive of the now-defunct UT Bank, who also served as a retired military captain, has opened up about a difficult decision he had to make during his time in the army. He revealed that leaving the military was one of the toughest choices he faced.
Amoabeng expressed his dream of becoming a Military General but had to depart because he was strongly against a coup d’état that occurred. Following his exit from the military, he found himself automatically transitioning into the business world.
In a Facebook post, Captain (rtd) Kofi Amoabeng wrote: “My dream was to become a Military General. The toughest decision I had to make was leaving the Army. I left because I was against the Coup d’etat which occurred. I became a businessman by default. Your character and values define who you are, not your dreams and aspirations.”
Kofi Amoabeng’s UT Bank was one of the financial institutions affected by the banking sector clean-up exercise in 2019. However, during an interview with GTV on Friday, February 17, 2023, Amoabeng addressed the misconception that he is still wealthy despite the collapse of his bank.
He clarified that he lost all his capital when the government shut down his bank. However, he emphasized that he manages to sustain his livelihood. Amoabeng stated, “I don’t have wealth, I’m broke, and Ghanaians should be happy, especially those who don’t like people who progress. It doesn’t make a difference because when I was whatever I was… I wore one shoe; I had one watch – this same watch. Now I still wear the same shoe and one watch, so for me, it makes no difference.”
Amoabeng acknowledged the perception that Ghanaians might believe he has hidden wealth, imagining themselves in his shoes, assuming they would have accumulated substantial funds if they owned a bank. However, he explained that his wealth was tied up in the bank and the company. As the bank encountered losses and other challenges, his capital was also affected.
Kofi Amoabeng’s revelation sheds light on the personal sacrifices he made during his military career and his subsequent journey as a businessman. Despite the setbacks, he remains resilient and content with his current circumstances.
