UT Bank flourished because I was divorced - Prince Amoabeng

The Chief Executive of defunct UT Bank, Captain Prince Kofi Amoabeng (Rtd) has revealed that the fact that he was divorced from his wife played a role in the success of his bank.

Prince Kofi Amoabeng

According to the award-winning businessman, the UT bank story wasn’t an easy one. He opined in an interview with Joy Prime that moving from the military to entrepreneurship was difficult and challenging at the beginning.

Mr. Amoabeng added that the separation from his wife was the turning point and breakthrough point.

He explained that the divorce ‘luckily’ gave him the luxury of time to focus on his business, which eventually led to his success in building his business empire.

“Because I didn’t have the family burden, I could even devote more of every time I had to build the company. Yeah because when my kids were home, naturally you’ll come and play with them, you listen to their problems, you try to solve their problems at school, school issues, but all these things ‘luckily’, and I say luckily in inverted commas, my wife took them away,” Mr. Amoabeng explained.

He was also quick to add that his business took him away from his family, creating a disconnect between himself and his children; a situation he feels disappointed about.

The businessman who has recently published a book titled: ‘The UT Story: Humble Beginnings’.

He told Joy Prime in the interview that he will not establish a new financial institution.

“When it comes to banking, I am not trying to re-establish myself. I am not young and I am grateful for what God has used me for. I have touched so many lives.

I have changed the world around me and that is what we are supposed to do,”

The retired soldier is a co-founder of UT Bank which collapsed in 2017 during Ghana’s banking sector cleanup.


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