Support credible companies — Prince Kofi Amoabeng to Gov’t

Founder of the defunct UT Bank, Prince Kofi Amoabeng, has urged the government to adopt a more targeted and strategic approach to job creation.

He said support should go to credible, well-structured companies.

Speaking on Channel One TV’s The Point of View, which was closely followed by Today.com.gh, Mr. Amoabeng argued that Ghana’s current model of providing funds to individuals under the banner of poverty alleviation has consistently failed to deliver sustainable employment.

He emphasised that a more effective pathway to job creation lies in deliberately investing in companies with proven structures and integrity.

“Intentionally support them, even with grants, to employ people rather than give the money to some lucky foot soldiers,” he said. “If we want sustainable and verifiable employment with conviction, that is where the money should go.”

Mr. Amoabeng was critical of successive administrations for repeating the same ineffective cycle of channeling money to individual artisans and micro-entrepreneurs without ensuring scalability, accountability, or long-term impact.

Referencing initiatives such as MASLOC, he noted that these programmes often become avenues for disbursement rather than genuine business development tools.

“Governments come, and they say they want to attend to poverty alleviation, and therefore they try to give money to artisans and people to start businesses,” he explained. “You know the story about MASLOC and all those places where money goes, and it doesn’t create anything. Maybe they get something small out of this.”

According to him, a credible job-creation strategy requires identifying companies that are transparent, compliant, and responsible.

“If you really want to create employment, you must identify companies that have credibility, companies that are run transparently, honestly, and that pay their taxes and SSNIT contributions. You should have some criteria,” he stated.

Beyond his policy critique, Mr. Amoabeng also spoke warmly about President John Dramani Mahama, describing him as an exceptionally humble and humane leader.

He said Ghana is fortunate to have a public figure with such down-to-earth qualities.

“He’s been my friend; his wife, the First Lady Lordina Mahama, was my friend, and he also became my friend,” he recounted. “We shared intimate moments, we had drinks, and ate together when he was Vice President. The President is too down-to-earth, humane, and extremely humble.”

Mr. Amoabeng noted that despite his stature, Mr. Mahama relates easily with people from all backgrounds — a trait he considers rare and admirable.