Retired Captain Prince Kofi Amoabeng, founder of the now-defunct UT Bank, says Ghana’s challenges are rooted not in a shortage of ideas or resources, but in the absence of leaders with strong ethical values.
Amoabeng reflected on the rise and fall of UT Bank—a period during which the company created jobs and gained national recognition. He said the experience prompted him to examine the deeper issues affecting the nation.
“After building UT, creating jobs, and gaining acknowledgement, the company eventually collapsed. I reflected deeply and asked myself what the biggest problem of this country is. It’s not rocket science; it’s about leadership—those who hold positions in businesses, institutions, government, and politics,” he said.
Amoabeng argued that Ghana lacks leaders who respect people, institutions, and established systems. He emphasized that genuine leadership requires respect for everyone, adherence to processes, and decisions guided by structures rather than personal interests.
He added that honesty, transparency, and selflessness are essential leadership values often missing among those in power.
“The problem we have is that we don’t have leaders with the right values. Values mean respecting everybody—their time, the systems, and allowing structures to guide positions. Leaders must also be honest, transparent, and selfless. It’s about the people, after all; that is why we came into this world,” he said.
Amoabeng concluded by stressing the need for leaders with the right mindset and qualities to make a meaningful impact in Ghana, different from what the country currently experiences.
