Live from the Woods: Too much information cause of banking crisis

In the morning of Monday, August 14, 2017, Ghana’s financial walls came down after the Central Bank announced the takeover of two indigenous banks, Capital and UT banks. The announcement shook the nation. The Governor of the Bank of Ghana, Dr Ernest Addison explained the banks, earlier lauded for their successes, were financially distressed to […]

My father exuded grace after collapse of Capital Bank – Otabil’s daughter

The daughter of evangelical pastor, Dr Mensa Otabil says her father’s demeanour after the collapse of Capital Bank shows he is a strong man. Baaba Otabil wrote on her Facebook wall, the motivational speaker had consoled her when she called to find out about the bank’s bankruptcy. The Otabil and Associates headed by the pastor […]

Why ICGC members cheered Otabil over ‘insult’ comment

The problem with controversial evangelical pastor Dr Mensa Otabil is his frankness or what some say is his thirst for publicity. He tells things as they’re and sometimes to the hilt. The way he jetted in some policy decisions of the past government has earned him the ‘enviable’ title of a foe of the National […]

God prepared me for Capital bank collapse – Otabil reacts

Head Pastor of ICGC, Dr Mensah Otabil says God used one of his sermons to prepare him for the week Capital and UT Banks were declared bankrupt by the Central Bank. The former shareholder of Capital Bank said the week the two, hitherto successful, indigenous banks went bust was an “eventful” one for him. He […]

Former CEO of Capital Bank warned of collapse in 2014

The imminent collapse of Capital Bank, formerly First Capital Plus Bank, was predicted three years before it went bust. The bank’s former CEO, John Kofi Mensah in an August 2014 memo warned of the breakdown of banking ethics which could lead to the collapse of the company. “In short, transparency, candour and diligence in prosecuting […]

How UT, Capital Banks collapsed after beating GCB Bank in KPMG survey

It might sound one of the miraculous stories in the Bible especially after two collapsed banks outperformed their consolidator in a 2016 survey by international accounting firm, KPMG. On all six criteria the research explored, the now defunct bank – UT Bank – performed par excellence than GCB Bank. The KPMG Customer Satisfaction Index (CSI) […]