NAME: Prince Kofi Amoabeng
CREDENTIALS: Founder & President, UT Holdings.
Prince Kofi Amoabeng (born 22 February 1952) is a Ghanaian business person. He is the founder of UT Bank and the president of its parent, UT Holdings. Mr. Amoabeng successfully established UT Bank Ghana Limited, which commenced business as a Finance House in 1997 and evolved from a lending company to a Universal Bank.
Amoabeng was born at Bososo in the Eastern Region of Ghana. He attended Adisadel College in Cape Coast, Penworth Preparatory School, in Accra, and St. Peter’s Secondary School at Nkwatia. He graduated from the University of Ghana, Legon, with a bachelor’s degree in Administration (Accounting). Kofi then attended the Military Academy in Accra and was commissioned as a Lieutenant. While in the army, studied the Royal Army Pay Corps course in Cost and Management Accountancy in Winchester, UK, returning home after a year and a half. He left the army in May 1982 because he opposed the return of the country to military rule. He became a businessman and consultant, launching several enterprises including Opayesco Wood Processing Co Ltd, K K Power & Co ltd, P. K. Amoabeng Enterprise Ltd, and Schiewer Gh. Ltd., as well as a consulting firm, Jam Haus. He also taught at the Ghana Stock Exchange. In 1997, he and Joseph Nsonamoa set up a ‘finance house’ to provide more timely and appropriate finance than was available from the traditional banking sector. The finance house was initially called Best Financial Services, then changed the name to Unique Trust Financial Services, now UT Bank. In a short, but eventful span of some 15 years, raising an initial 255 million cedis(25,000 Ghana cedis) as seed money, and staff of 3 operating from a tiny office at Kantamanto in the Central Business District in Accra, UT is now a Bank(click to find banking jobs) with a turnover of about US$55.5, more than 600 employees and 26 branches in seven of the ten regions of Ghana.
Amoabeng is a member of the Board of Directors of the Ghana Interbank Payment Settlement System (GHIPSS); a member of the Council of Enablis Ghana (Canadian Entrepreneurial NGO) and a member of the International Advisory Board of China Europe International Business School (CEIBS), in Ghana.
Mr. Amoabeng’s achievement is a perfect example of the principle of money success, which is the audacity to set definite goals, and execute with grit.
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