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Tue, Jun

capital bank

  • According to President Akufo-Addo, “It is not right that the overwhelming majority of ordinary Ghanaians should pay for the actions of a greedy few, without sanction.”

    The President of the Republic, Nana Addo Dankwa Akufo-Addo, has assured the Ghanaian people that “those responsible for the sequence of activities that led to the ‘banking crisis’ will face the full brunt of the law if they are found to have broken the law”.

  • Then came a news story that made me wonder: does Ghana even know what a patriot looks like? Did colonialism so deeply penetrate your psyche that you distrust and attempt to destroy any good thing that comes from your homeland?

    Written By Written By Erinn Ofori - Less than two weeks ago, droves of Ghanaians packed Independence Square for one of the largest gatherings in Ghana’s history. The kick-off to that conference, Greater Works, saw Pastor Mensa Otabil give the nation a riveting word of encouragement that energised and inspired people across the land and reverberated across the continent

  • On the cost, KPMG estimated that a liquidation of uniBank through a new bank will mean that a day-one bond issuance will likely cost “in excess of GH¢4.3 billion.

    The full impact of the August 1, 2018 dissolution of the uniBank Ghana Limited on the nation is coming to the fore, after a leaked report from KPMG revealed that the method used to resolve the bank could cost the state in excess of GH¢4.3 billion.

  • Written By Nelson Semanu Korkor – Several recent developments within the general populace over the acquisition of two Ghanaian-owned banks; Capital Bank and UT Bank Ltd by GCB Bank limited has caught my attention. As an emerging organizational strategy consultant, I am disheartened by it, especially those being pushed on social media, and I feel the urge to pen down some perspectives:

  • The termination of their contracts was done after an audit of employees of the defunct banks exposed issues with the minimum qualification of about 160 staff.

    GCB Bank has terminated the contracts of 56 ex-staff of defunct UT and Capital Banks for not possessing the minimum qualification required to work with the bank.

  • What is different is perhaps among others, the setting of the minimum capital requirement at GHC400 million instead of GHC230 million as originally intended.

    Written By Michael Osei Owusu - Last week, the statutory regulator of the banking sector, the Bank of Ghana closed down two additional universal banks and announced 23 banks as fit for operating in the country.

  • It is apparent that, Ibrahim Mahama is hiding behind the Veil of Incorporation to perpetuate gargantuan fraud on some financial institutions in this country.

    Ibrahim Mahama and his lawyer, have both put out statements to the effect that, Dzata Ltd, a Company that Ibrahim Mahama is a Director and Shareholder, played no part in the collapse of UT Bank.

  • You assume that the public was condemning Mensa Otabil for no wrongdoing? Or that he was on the crucible despite his innocence? You claim that because he built an empire never imagined in human history, we can allow him to graze on public cash?

    Spare the public the blasphemy of assumptions, Manasseh. Your empty tirade laden with pontification that means very little and hardly touches the grain of the matter at issue is sickening.

  • My position was a non-executive role. I was therefore not involved in the day-to-day management and operations of the Bank.

    Greetings!

  • The plaintiffs are seeking to use the legal action to recover over GH₵837 million being what they said were loans granted to the shareholders which remains unpaid.

    The General Overseer of the International Central Gospel Church (ICGC), Pastor Mensa Otabil, the ICGC, and 13 shareholders and directors of the defunct Capital Bank Ghana Limited have been sued for allegedly engaging in acts that led to the collapse of the bank.

  • Written By Cedric Dzelu and Alberta A. Adongo - It may have come as a surprise to many Ghanaians but analysts say the signs were there and the press statement from the Bank of Ghana (BoG) on  August  14, 2017 put an end to all speculations and would have fetched fortunes to anyone who would have gambled on the folding up of the once prestigious UT Bank and Capital Bank, both wholly Ghanaian-owned banks.

  • With regard to the GH¢27.5 million, the prosecution has accused Essien of carrying it in jute bags which he distributed to some individuals for business promotion purposes, ...

    The founder of the defunct Capital Bank, William Ato Essien, who is on trial with three others for allegedly collapsing the bank, is willing to refund GH¢27.5 million back to the state, his lawyers have informed the Accra High Court.
    The amount is part of a GH¢620 million liquidity support given to Capital Bank by the Bank of Ghana (BoG) between June 2015 and November 2016.

  • “I didn’t have banking training but I’m a chairman of a bank and I was intimated the first time, I said wow!, what am I going to do, I’m going to make a mess of myself,” Pastor Otabil acknowledged.

    One of the numerous past motivational messages by Pastor Mensa Otabil, where he expressed fears about going to make a mess of himself, by accepting to chair a banking board without a background in finance has gone into circulation.

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