“I sold my mansion so I won’t go broke” – former UT boss Kofi Amoabeng sadly reveals after NPP collapsed his company


Former boss of defunct UT Bank, Prince Kofi Amoabeng has made a sad statement after NPP collapsed his bank.

In a recent interview with TV3, Kofi Amoabeng said his life has been a complete cycle because he has seen it all in life.

On Business Focus on TV3, the businessman whose UT Bank was carelessly collapsed in 2017 by the government’s New Patriotic Party (NPP) on the pretext of the Bank of Ghana’s (BoG) banking sector clean-up suggested he’s in a better position to mentor people about the intricacies of life because he has seen it all.

“I have seen it virtually all the way to the top and I have seen it all the way to down. So, if I say I want to impact people and give them some leadership skills it is a complete thing, it is not like I have read from a book and I am telling you what to do.

“I have experienced it from Kantamanto all the way to the most respected CEO and I have seen it go down. So it is a complete 360. So when I have to give or talk to people it

“You must be liquid then, selling all these businesses?” he was asked by the host, Paa Kwesi.

Responding, he said: “No we didn’t sell the[businesses] they are running. They didn’t have much value, we sold to pay debt and even the debts are not fully paid.

Asked whether he is a man of straw, Mr Amoabeng answered: “I can be a man of straw, I am 70, I have kids that I have educated. I am not saying I live off them but I am quite frugal with my life. I have one watch, I have one shoe so I don’t need much money. I don’t have to have a lot of money to enjoy life.

“But you are comfortable?” host Paa Kwesi further probed.

He replied: “I am very comfortable and I have been blessed big time.”

“I don’t drive Range Rover any more, I drive a Lexus.

“It is an upgrade. I live in an apartment and I am quite comfortable.”

“You sold your mansion for an apartment?” Paa Kwesi asked.

“I had to sell it to organize myself not to get broke,” he said.


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