Senior Partner at Africa Legal Associates (a private law firm) and a close relative to President Nana Akufo-Addo, Gabby Asare Otchere Darko, has questioned the motive behind Prince Kofi Amoabeng’s disclosure that he once funded the president and finance minister, Ken Ofori-Atta.
The former Chief Executive of the defunct UT Bank, Kofi Amoabeng had in an interview on TV3 program on Monday said UT bank once rescued Ken Ofori-Atta’s business from collapsing and also supported Nana Akufo-Addo with a loan facility.
Mr Amoabeng was making a strong case for local businesses and why they should be supported.
But reacting to Mr Amoabeng on his facebook wall, Gabby Otchere-Darko confirmed Akufo-Addo took a loan, but paid back.
“Is he saying if his financial institution advanced credit to Nana Akufo-Addo, which, by the way, was fully paid back under President Rawlings, then, for this reason, his bank should have been spared when it became manifestly insolvent under President Akufo-Addo?”
To the founder of the political think-tank, the Danquah Institute (DI), going by Mr Amoabeng's comments, the president's action is a clear case of a politician with a high-level of intergrity.
"I think his story is rather a good one for money and politics. That there are politicians who will take decisions in the national interest first and not be primarily influenced necessarily by who funded their campaign, if that."
Below is the full response by Gabby
Yes, so Nana Akufo-Addo took a loan from Unique Trust decades ago, which was fully paid back by 2000 (not 2003); so what? After all, what are lenders for? Banks are there to lend and borrowers agree to pay back even if interest rates are prohibitive.
But, I’m struggling to make heads or tails out of this story. Did Prince Amoabeng say he gave a loan to Nana Akufo-Addo for Nana’s political campaign and is he also saying he does not fund political parties? As a person or as UT? I don’t understand.
Is he saying if his financial institution advanced credit to Nana Akufo-Addo, which, by the way, was fully paid back under President Rawlings, then, for this reason, his bank should have been spared when it became manifestly insolvent under President Akufo-Addo? I doubt that is what he is saying. He wouldn’t.
I think his story is rather a good one for money and politics. That there are politicians who will take decisions in the national interest first and not be primarily influenced necessarily by who funded their campaign, if that.
Prince Amoabeng is one person we have all admired for what he achieved as a business man. Discipline was his motto, as we saw it from afar. In fact, I featured him on my talk show, Gabby’s Airtime on TV3 in 2003 to tell his great story. Yes, at one time, I also took a loan from UT for my talk show. But, it wasn’t for free! He took a personal asset of mine as collateral because the Talk Show had no such asset. He would not have waived it if I had defaulted beyond redemption. That’s why I am wondering what the point of this disclosure that he once funded Nana Addo and Ken Ofori-Atta is all about.
Source: Peacefmonline.com/GHANA
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Wat dis seek to settle Gabby is dat nana had nothing before becoming President you guys always tell us dat u were damm rich before taking political power so u will not steel ghana money and dat u were self made guys now we all know dat u are loan takers and so please go and pay de loan and u Gabby dat dollar account dat u operate within a short time you haf millions of dollars sitting in there wat a corrupt association of family members in power who have decided to take away all de state resources and make it thir property Ghanaians should wake up or else dis guys will finish ghana
when you have a british citizen coming to ghana to write for his law exams at the time his relative was an attorney general. meanwhile ghanaians are proudly writing and passing the british law exams.
In as much i sypathise with Mr Amoabeng and all who had lost their jobs, my question are: if he took a loan and repay latter, what is it? Did he charge interest or was it for free? was Mr Amoabeng in different business other than lending? you had debts of 850m and assets of 112m meaning our (Ghana) funds were being used to support you yet we call you "business mongol". Some people would need just 100 cedis to start on their own. why did he not spread his risk by selling shares when expanding? we will have such situations when we abide by "adze nye wo dze" and adze wo fie a oye" philosophy.
My thoughts exactly! Amoabeng should come again.
what Amoabeng meant was that he does not operate on political grounds because people said he was NDC and gave loan to Ibrahim Mahama reason why he said he is neither NPP or NDC because if it was because of the loan he gave to Ibrahim then he has also given loan to Akufo Addo and Ofori Atta. You guys should listen well to his interview. I didn't know that Gabby was that shallow minded. He again said that that is what the government thought was right so he had no problems with that. He was asked questions and he answered don't quote him half way.
SO HE SHOULD PAY AND STOP COLLAPSING THEIR JOBS
MY SENTIMENTS EXACTLY. THANKS GABBY
Someone is making sense, stealing de poor's money in suits yet dey want us to clap for dem.only an ***barred word*** person will make dis banking clean up political, did he shared his profit with Nana Addo? Ghanaians n hippocracy. We support people who do things right
And so your face, you don't Bite the hand that feeds you. The man has dare the government to prosecute him. He also challenge Eoco to release the release report on his bank. Why don't you tell your uncle to release the report and stop your unnecessary reply.
this is the only 1 sense you,ve made in all your posts. agreed