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This is what Kofi Amoabeng of defunct UT Bank told a young banker who wanted to buy his BMW X5



what Kofi Amoabeng of UT Bank told a young banker

This is what Kofi Amoabeng of defunct UT Bank told a young banker who wanted to buy his BMW X5

The former Army Officer and the CEO of the defunct UT Bank, Prince Kofi Amoabeng is out to share his life story as a corporate executive with Ghanaians through his new book.

In an up-close interview with Kwame Sefa-Kayi on Peace FM’s Kookrokoo as part of announcing his new book, Mr. Amoabeng used the opportunity to advise the youth who found themselves in the corporate world to be very cautious of how they use their income.

In giving an example of an experience he had with a 38-year old young man who wanted to buy his BMW X5, he said;

“I was selling my X5 and a young man approached me and said he wanted to buy it, he offered a price and I asked him where he works and he said he is a banker. So I asked him how he intends to buy and service the car. I told him I won’t sell the car to him, and told him he is engaged in thievery so he should stop.”


In his opinion and based on his experience in the corporate banking field, he was of the view that bank staff cannot buy an X5 and maintain it. Something is wrong somewhere, I didn’t sell it to him, I sold it for less. If at 38 you want to drive an X5 what will you be driving when you turn 60?” he quizzed.

“I tell the young people the path they are taking is not good for them. A lot of people came for loans and I told them I won’t give them. It’s not because they couldn’t pay but because it won’t help them. You have to convince me that you really need the loan and that you can pay it back.” He recalls how he was dealing with young people who were coming for loans from his defunct bank.

He, therefore, advised the young people of the country to be very prudent with their finances.

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