UT and Capital Bank collapse shouldn’t deter Ghanaian Entrepreneurs

Ghanaian rapper and singer M.anifest has encouraged Ghanaian entrepreneurs to remain resolute despite the recent collapse and subsequent take-over of two indigenous banks; UT and Capital Bank.

The Bank of Ghana revoked the license of these two commercial banks last week after the banks failed to turn around their negative capital adequacy position and further directed GCB Bank to take over management of the two banks.

M.anifest, who was a guest on the award-winning Celebrity Fanzone show on GH One TV last Saturday, expressed his concern for workers of the two banks who are likely to be affected by the takeover.

“I think first and foremost, what most of us feel is a deep compassion for the workers and those who stand the risk of losing their jobs because that means there are other families involved not them alone as individuals.”

M.anifest further encouraged Ghanaian entrepreneurs to take the necessary lessons from this unfortunate turn of events even as they forge ahead in their quest to create more indigenous companies and products.

“Hopefully, this also does not shake people’s confidence in wanting to be Ghanaian entrepreneurs. Because things happen and we learn from all these things, we can still embark on creating Ghanaian companies, Ghanaian products, Ghanaian things and yeah this is not the end of the world. It is a difficult situation but I think hopefully it’s being handled and it is a lesson for the future,” he stated.

M.anifest has recently released a single titled Be my woman featuring Mi Casa and has assured his fans that he still has some more music for them before the year closes.

 

 

Gideon Sarpong

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