Prince Kofi Amoabeng, founder of the defunct UT Bank, says many of Ghana’s challenges stem from a lack of leadership values rather than a shortage of ideas or resources.
Speaking on Channel One TV’s The Point of View with Bernard Avle, Mr. Amoabeng reflected on the rise and collapse of UT, a period during which the company created jobs and gained national prominence. He said the experience prompted him to take a closer look at the country’s underlying problems.
According to him, Ghana’s core challenge lies in the character and values of individuals occupying leadership roles across business, public institutions, government, and politics.
“After doing UT and giving jobs to people and creating a company and getting acknowledgement, downhill, collapse, and everything. I sat back and reflected deeply, and asked what the biggest problem of this country is. It’s not rocket science; it’s about leadership, the people who hold positions in businesses, institutions, government and politics,” he said.
Mr. Amoabeng argued that the country lacks leaders who respect people, institutions, and established systems. He said genuine leadership demands respect for everyone, as well as respect for time, systems, and processes—allowing structures, not personal interests, to guide decisions.
He stressed that honesty, transparency, and selflessness are essential leadership values but are often missing in those entrusted with power.
“The problem we have with them generally is that we don’t have leaders with the right values. Values, I mean, people who respect everybody. Have respect for all. Respect for all means you respect everybody’s time, and you respect systems, and you let systems do the choosing and positions. And then you must be honest in all your transactions, transparent and selfless. It’s about the people, after all, that is why we came into this world.”
He added, “We came here to make the right impact. We create leaders, but when you identify your problem, you go to an expert. Our problem is not just about leadership, but leaders with the right mindset, qualities, different from what we’re experiencing now.”
