The UT and Capital Bank takeovers: Are Ghanaian investors safe?

The recent mafia style Bank of Ghana-directed takeovers of UT Bank and Capital Bank has darkened the private investment climate of Ghana. Bank of Ghana was certainly directed by the Minister of Finance.

Ghanaians, however, have a few questions for our President to answer.

1. Did you, Mr. President, approve this daring move by the Minister of Finance?

2. Are you aware, Mr. President, of the relationship between Board members of Bank of Ghana and Mr. Ken Ofori Atta (Minister of Finance)?

3. Your Excellency, couldn't you have helped the two Banks by simply asking for the names of their key debtors? It is generally believed that the debts of four (4) major customers (including Ibrahim Mahama) could have been retrieved under Presidential duress or by the same Ministry of Finance that ensured the payments of monies owed the Ghana Revenue Authority (GRA) by Ibrahim Mahama. This retrieved cash could easily have offset the predicament of the two Banks.

4. Are you aware, Mr. President, that two major foreign investors were willing to bail out the two Banks?

5. Are you aware, Your Excellency, that Ghana Commercial Bank (GCB) has simply duplicated what Ibrahim Mahama tactically did with former Merchant Bank (taking over the Bank without paying any money)?

6. And why GCB, a Bank that has a poor performance record?

7. Are you aware, Your Excellency, of Mr. Ken Ofori Atta's plan to succeed you in the year 2020?

8. Will the much-talked about Akyem Mafia use this and other deals to fortify their Presidential War Chest ($$$$)?

9. Should we assume, Your Excellency, that this whole deal is part of the Grand Akyem Presidential Succession Plan (GAPSP)?

Let's not forget the grave consequences this GAPSP will have on voters in NPP's stronghold (Ashanti Region) and in the Vice President's backyard (Upper East, Upper West, and Northern Regions).

I am Kojo Atta, your faithful Elephant Family member.