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2024 Elections: Former UT Bank Boss Kofi Amoabeng Endorses John Mahama

In an interview on Kofi TV, Amoabeng expressed his decision to back Mahama, saying that he made a wrong choice in the past by deciding to support some people from the ruling party.

Former CEO of defunct UT Bank and UT Holdings, Captain Prince Kofi Amoabeng (rtd), has thrown his support behind NDC flagbearer, John Dramani Mahama ahead of the 2024 general elections.

In an interview on Kofi TV, Amoabeng expressed his decision to back Mahama, saying that he made a wrong choice in the past by deciding to support some people from the ruling party.

“I wasn’t NDC as such. In fact, my sister was the MP for our area and she was Deputy Minister for Education until the recent reshuffle and of course, I have to support my sister. So people in the NDC think I am NPP but the thing about this is that my genuine friends are in the NDC even though I didn’t support them in the past,” he said in that interview.

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Adding further, he said: “I think we made a wrong experiment and next time I have to make the right choice. So now knowing Mahama and knowing what the NPP has done, I think I have to go fully behind NDC and Mahama to see what he can do for us in his second coming.”


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His public endorsement of Mahama could potentially be seen as a vendetta, as his bank was among the first few banks to have been shut down by the Bank of Ghana in the about three-year-long financial sector clean-up.

UT Bank before it collapsed made a name for itself as one of the banks supporting Ghanaian businesses, usually providing loans in less than 48 hours. But in 2017, the bank alongside others was cited for poor corporate governance among others, leading to their licenses being revoked.

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Since that time, Amoabeng has blamed the current government for his bank’s collapse, saying it was all political.

But his public endorsement of John Mahama doesn’t seem like a first. In January, in an interview with Star FM, he proposed that Mahama be given a chance again to be President, adding that the current regime has been bad at governance.

“We have tried military coups, democracies, parliamentary type, presidential type and I think the only thing we haven’t tried is somebody who has been President before. So I think it’s John Mahama he has been in the position before and therefore when he comes back. He knows the path to tread,” he said in that interview.

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