The Collapse of UT and Capital Bank was a Big Challenge – Finance Minister

The Minister for Finance, Hon. Ken Ofori-Atta has said that one of his biggest challenges as a public official was giving the approval to collapse the UT and Capital Bank.

He explained that it was difficult because these are also indigenous firms of entrepreneurs who take risks.

“Deep in the recess of one’s mind, being an entrepreneur myself, is that they can’t bounce back and so maybe that’s okay but let’s take care of the public first and that really for me and for the ministry should exemplify looking at the big issue” stated the Minister.

The minister stated that he is committed to improving the environment so the country does not witness such development again.

UT Bank and Capital Bank was taken over by the Ghana Commercial Bank (GCB) in August after the bank of Ghana reported that they had failed to improve their financial position.

He made the statement in an interview on Joy Business.