Former Chief Executive Officer of UT Bank and UT Holdings, Prince Kofi Amoabeng
The former Chief Executive Officer of UT Bank and UT Holdings, Prince Kofi Amoabeng (rtd), has stated that Ghanaians made a wrong decision by voting for the New Patriotic Party (NPP) in the 2020 elections.
Speaking in a recent interview on The Day Show on TV3, he blamed the Akufo-Addo-led government for imposing significant hardships on Ghanaians.
“If you ask me, we voted wrongly for President Akufo-Addo. From what is happening around, you can look around and tell me in the eye that I am telling you the truth. Times are really hard; what the government has done this time is unbelievable,” he stated.
Prince Amoabeng further described the current economic crisis as dire, highlighting the impact of past decisions on the present.
“We are consuming the past because people’s savings have disappeared. We are consuming the present with high taxes, inflation, and utilities going up by the day, and we are consuming the future because there are debts that have been scheduled ahead of us. It is a desperate situation, and I don’t think we have been in this situation before,” Amoabeng lamented.
The former bank CEO also accused successive governments of compromising state institutions by appointing their allies in key positions.
“It is also sad because governments, when they come into power, compromise all state institutions. They change all the heads, and they put their puppets, their cronies, and their cohorts or whatever there, and they can make you uncomfortable if they want to, and that is what happens,” he noted.
The economy witnessed a downward trend in 2020 after the country was hit by the coronavirus pandemic.
In response to the economic challenges arising from the pandemic and the Russia-Ukraine war, the government implemented measures to restore stability.
One key measure has been seeking financial assistance from the International Monetary Fund (IMF) for a three-year period.
Despite these efforts, Ghanaians continue to face significant hardships, including rising costs of living and doing business.
JKB/MA
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