How social media smacked Kofi Amoabeng, the founder of a Ghanaian bank that has collapsed

Kofi Amoabeng resigned as the CEO of UT Bank years before its collapse. However, Ghana social media did not leave him out as the founder following GCB Bank's takeover.

How social media smacked Kofi Amoabeng, the owner of a Ghanaian bank that has collapsed

The parent company, UT Holdings is a financial service company focusing on Banking, Life Insurance, Logistics, Property Management, Debt Recovery and also Private Security Services.

But UT Bank is no more.

On Monday, August 17, 2017, the Central Bank of Ghana announced the withdrawal of UT Bank’s license alongside Capital Bank’s.

In a statement released by the Bank of Ghana, GCB Bank was selected amongst three others to take over the bank on the basis of ‘purchase price, cost of funding, branches to be retained, staff to be employed and impact on the acquiring bank’s capital adequacy ratio.’

Kofi Amoabeng had resigned as the CEO of UT Bank four years before the bank’s closedown Ghana social media did not care.

From his past rumoured relationships to what he uses his money for, the Ghanaian business man was smacked everywhere.

The first notable among the post which attributed the collapse of his bank to him confessing to not pay tithes divided opinions. The other half of the debate made their point by asking questions on why Capital Bank, a bank chaired by Pastor Mensa Otabil and co-owned by two pastors and a business man was also shut down.

Mzbel is a Ghanaian musician who is reported to have dated the founder of UT Bank Kofi Amoabeng in the past. When the GCB Bank takeover was announced, MzBell was brought into the debate.

Another Ghanaian musician, Sarkodie who somehow endorsed UT Bank in one of his songs had to endure trolls from social media users when the collapse of the bank was announced.

A meme on the whole saga.

However, there were other people defending Kofi Amoabeng too.

This old photo of Kofi Amobeng having fun is worlds apart from what his trolling should actually mean. Fun times.

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